George M. Milne, Jr. Purchases 100,000 Shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Director George M. Milne, Jr. bought 100,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $2.20 per share, with a total value of $220,000.00. Following the completion of the acquisition, the director now owns 858,571 shares of the company’s stock, valued at approximately $1,888,856.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Amylyx Pharmaceuticals Trading Up 5.3 %

Shares of AMLX traded up $0.11 during mid-day trading on Thursday, reaching $2.20. The company had a trading volume of 492,596 shares, compared to its average volume of 2,156,231. The stock has a market cap of $149.61 million, a price-to-earnings ratio of -1.97 and a beta of -0.63. The firm has a fifty day simple moving average of $2.03 and a 200-day simple moving average of $3.66. Amylyx Pharmaceuticals, Inc. has a fifty-two week low of $1.58 and a fifty-two week high of $21.28.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last issued 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 prior year, the business posted $0.31 EPS. As a group, equities analysts predict that Amylyx Pharmaceuticals, Inc. will post -2.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Amylyx Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund increased its stake in Amylyx Pharmaceuticals by 11.9% during the 4th quarter. New York State Common Retirement Fund now owns 23,754 shares of the company’s stock worth $350,000 after buying an additional 2,519 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Amylyx Pharmaceuticals by 69.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,389 shares of the company’s stock worth $153,000 after buying an additional 4,255 shares during the period. Quest Partners LLC purchased a new stake in Amylyx Pharmaceuticals during the 4th quarter worth $89,000. Hennion & Walsh Asset Management Inc. increased its stake in Amylyx Pharmaceuticals by 5.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 118,983 shares of the company’s stock worth $226,000 after buying an additional 6,116 shares during the period. Finally, Swiss National Bank increased its stake in Amylyx Pharmaceuticals by 8.7% during the 1st quarter. Swiss National Bank now owns 86,600 shares of the company’s stock worth $246,000 after buying an additional 6,900 shares during the period. Hedge funds and other institutional investors own 95.84% of the company’s stock.

Analyst Upgrades and Downgrades

AMLX has been the subject of a number of research analyst reports. Mizuho dropped their target price on shares of Amylyx Pharmaceuticals from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Tuesday, May 14th. HC Wainwright reiterated a “buy” rating and issued a $8.00 price target on shares of Amylyx Pharmaceuticals in a research report on Wednesday, July 10th. Finally, The Goldman Sachs Group increased their price target on shares of Amylyx Pharmaceuticals from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $17.60.

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.