Jacobs Levy Equity Management Inc. Decreases Stock Holdings in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

Jacobs Levy Equity Management Inc. reduced its stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) by 18.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 478,440 shares of the company’s stock after selling 110,671 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Amylyx Pharmaceuticals were worth $1,550,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AMLX. Vanguard Group Inc. grew its holdings in shares of Amylyx Pharmaceuticals by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 5,348,139 shares of the company’s stock worth $15,189,000 after acquiring an additional 72,573 shares during the period. CWM LLC boosted its position in Amylyx Pharmaceuticals by 104.2% during the second quarter. CWM LLC now owns 28,643 shares of the company’s stock worth $54,000 after purchasing an additional 14,613 shares in the last quarter. SG Americas Securities LLC grew its holdings in Amylyx Pharmaceuticals by 113.6% in the second quarter. SG Americas Securities LLC now owns 55,836 shares of the company’s stock valued at $106,000 after purchasing an additional 29,697 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Amylyx Pharmaceuticals by 5.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 118,983 shares of the company’s stock valued at $226,000 after buying an additional 6,116 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Amylyx Pharmaceuticals by 88.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 28,785 shares of the company’s stock worth $55,000 after buying an additional 13,509 shares during the last quarter. 95.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Camille L. Bedrosian sold 11,442 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $3.20, for a total value of $36,614.40. Following the sale, the insider now directly owns 143,801 shares of the company’s stock, valued at approximately $460,163.20. This trade represents a 7.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Justin B. Klee sold 18,589 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction of $59,484.80. Following the transaction, the chief executive officer now directly owns 3,120,569 shares of the company’s stock, valued at $9,985,820.80. This trade represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.70% of the company’s stock.

Analysts Set New Price Targets

AMLX has been the topic of a number of research reports. Leerink Partners set a $4.00 price objective on shares of Amylyx Pharmaceuticals and gave the company a “market perform” rating in a research note on Friday, October 18th. HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Amylyx Pharmaceuticals in a research report on Thursday. Baird R W upgraded Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Robert W. Baird upgraded Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their target price for the company from $3.00 to $11.00 in a report on Monday, November 18th. Finally, Bank of America raised Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their price target for the stock from $4.20 to $10.00 in a research report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.43.

Amylyx Pharmaceuticals Stock Performance

AMLX stock opened at $5.14 on Monday. Amylyx Pharmaceuticals, Inc. has a one year low of $1.58 and a one year high of $19.95. The stock has a market capitalization of $352.35 million, a P/E ratio of -1.35 and a beta of -0.68. The company has a 50 day moving average price of $4.88 and a two-hundred day moving average price of $3.07.

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.