Acadian Asset Management LLC Purchases New Position in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Acadian Asset Management LLC acquired a new position in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,211,617 shares of the company's stock, valued at approximately $2,300,000. Acadian Asset Management LLC owned approximately 1.78% of Amylyx Pharmaceuticals at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Amylyx Pharmaceuticals by 1.4% during the first quarter. Vanguard Group Inc. now owns 5,348,139 shares of the company's stock valued at $15,189,000 after purchasing an additional 72,573 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Amylyx Pharmaceuticals by 114.4% during the 4th quarter. Franklin Resources Inc. now owns 1,325,001 shares of the company's stock valued at $19,504,000 after buying an additional 707,134 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Amylyx Pharmaceuticals by 5.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,256,861 shares of the company's stock worth $18,501,000 after acquiring an additional 69,733 shares in the last quarter. Farallon Capital Management LLC bought a new position in Amylyx Pharmaceuticals in the first quarter valued at $3,267,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Amylyx Pharmaceuticals by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 970,555 shares of the company's stock valued at $2,757,000 after acquiring an additional 75,775 shares during the last quarter. 95.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other news, Director George M. Milne, Jr. bought 100,000 shares of the company's stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $2.20 per share, for a total transaction of $220,000.00. Following the completion of the acquisition, the director now owns 858,571 shares in the company, valued at approximately $1,888,856.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 11.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AMLX shares. The Goldman Sachs Group increased their price objective on Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the company a "neutral" rating in a research report on Friday, July 12th. HC Wainwright reiterated a "buy" rating and set a $8.00 price target on shares of Amylyx Pharmaceuticals in a research report 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. According to MarketBeat.com, Amylyx Pharmaceuticals presently has a consensus rating of "Hold" and a consensus target price of $17.60.

Amylyx Pharmaceuticals Stock Performance

AMLX stock traded up $0.13 during trading on Friday, hitting $2.62. 843,141 shares of the company traded hands, compared to its average volume of 2,128,136. The company has a 50-day moving average of $2.12 and a 200-day moving average of $2.95. Amylyx Pharmaceuticals, Inc. has a 1 year low of $1.58 and a 1 year high of $20.44. The firm has a market capitalization of $178.37 million, a PE ratio of -2.45 and a beta of -0.62.

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

About Amylyx Pharmaceuticals

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.