Wellington Management Group LLP Invests $793,000 in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Wellington Management Group LLP purchased a new stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 209,708 shares of the company's stock, valued at approximately $793,000. Wellington Management Group LLP owned about 0.31% of Amylyx Pharmaceuticals at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. FMR LLC boosted its stake in shares of Amylyx Pharmaceuticals by 292.0% during the third quarter. FMR LLC now owns 221,001 shares of the company's stock worth $716,000 after buying an additional 164,622 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Amylyx Pharmaceuticals by 144.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 140,559 shares of the company's stock valued at $455,000 after purchasing an additional 83,048 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Amylyx Pharmaceuticals by 181.8% in the fourth quarter. American Century Companies Inc. now owns 59,310 shares of the company's stock valued at $224,000 after purchasing an additional 38,261 shares during the period. Barclays PLC raised its stake in shares of Amylyx Pharmaceuticals by 91.1% during the third quarter. Barclays PLC now owns 84,572 shares of the company's stock worth $274,000 after purchasing an additional 40,319 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Amylyx Pharmaceuticals during the fourth quarter worth $56,000. Institutional investors and hedge funds own 95.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AMLX. Mizuho upgraded shares of Amylyx Pharmaceuticals from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $3.00 to $7.00 in a research report on Monday, April 7th. HC Wainwright reiterated a "buy" rating and set a $12.00 target price on shares of Amylyx Pharmaceuticals in a research report on Wednesday, March 5th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $8.00.

Amylyx Pharmaceuticals Stock Up 4.2 %

Shares of AMLX traded up $0.16 on Friday, reaching $3.98. The stock had a trading volume of 724,313 shares, compared to its average volume of 1,285,987. The firm has a 50-day moving average of $3.56 and a 200 day moving average of $4.10. The firm has a market capitalization of $352.64 million, a PE ratio of -1.04 and a beta of -0.53. Amylyx Pharmaceuticals, Inc. has a twelve month low of $1.58 and a twelve month high of $7.27.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.06). The company had revenue of ($0.67) million for the quarter. On average, sell-side analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -2.2 earnings per share for the current fiscal year.

Insider Activity at Amylyx Pharmaceuticals

In other news, CFO James M. Frates sold 10,896 shares of the business's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $3.47, for a total value of $37,809.12. Following the completion of the transaction, the chief financial officer now owns 290,988 shares of the company's stock, valued at $1,009,728.36. The trade was a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joshua B. Cohen sold 21,490 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $3.47, for a total transaction of $74,570.30. Following the sale, the chief executive officer now owns 3,355,280 shares in the company, valued at approximately $11,642,821.60. This trade represents a 0.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,509 shares of company stock valued at $222,586. 11.70% of the stock is owned by corporate insiders.

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.