Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Director Purchases $220,000.00 in Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Get Free Report) Director George M. Milne, Jr. bought 100,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $2.20 per share, with a total value of $220,000.00. Following the purchase, the director now owns 858,571 shares of the company's stock, valued at approximately $1,888,856.20. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ:AMLX traded up $0.11 on Thursday, reaching $2.20. The company's stock had a trading volume of 492,596 shares, compared to its average volume of 2,156,231. The stock's 50-day moving average is $2.03 and its two-hundred day moving average is $3.66. Amylyx Pharmaceuticals, Inc. has a 52-week low of $1.58 and a 52-week high of $21.28. The stock has a market capitalization of $149.61 million, a P/E ratio of -1.97 and a beta of -0.63.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($0.73) EPS for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.35). Amylyx Pharmaceuticals had a negative net margin of 17.86% and a negative return on equity of 15.51%. The business had revenue of ($1.02) million during the quarter, compared to analysts' expectations of $18.83 million. During the same period in the previous year, the company posted $0.31 earnings per share. Equities analysts forecast that Amylyx Pharmaceuticals, Inc. will post -2.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AMLX. The Goldman Sachs Group boosted their target price on shares of Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the stock a "neutral" rating in a research note on Friday, July 12th. Mizuho decreased their price objective on shares of Amylyx Pharmaceuticals from $4.00 to $3.00 and set a "neutral" rating for the company in a research note on Tuesday, May 14th. Finally, HC Wainwright restated a "buy" rating and issued a $8.00 price objective on shares of Amylyx Pharmaceuticals in a research note on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $17.60.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AMLX. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Amylyx Pharmaceuticals by 69.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,389 shares of the company's stock worth $153,000 after purchasing an additional 4,255 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Amylyx Pharmaceuticals by 11.9% during the fourth quarter. New York State Common Retirement Fund now owns 23,754 shares of the company's stock worth $350,000 after purchasing an additional 2,519 shares in the last quarter. Swiss National Bank raised its holdings in Amylyx Pharmaceuticals by 19.8% during the fourth quarter. Swiss National Bank now owns 79,700 shares of the company's stock worth $1,173,000 after purchasing an additional 13,200 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Amylyx Pharmaceuticals by 5.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 387,620 shares of the company's stock worth $5,706,000 after purchasing an additional 21,758 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in Amylyx Pharmaceuticals by 38.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 59,111 shares of the company's stock worth $870,000 after purchasing an additional 16,327 shares in the last quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.

Amylyx Pharmaceuticals Company Profile

Amylyx Pharmaceuticals, Inc, a commercial-stage biotechnology company, engages in the discovery and development of treatment for amyotrophic lateral sclerosis (ALS) and neurodegenerative diseases. The company's products include RELYVRIO, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of ALS in adults in the United States and marketed as ALBRIOZA for the treatment of ALS in Canada.

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