Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Major Shareholder Morningside Venture Investment Sells 9,122 Shares of Stock

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX – Get Rating) major shareholder Morningside Venture Investment sold 9,122 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $32.55, for a total value of $296,921.10. Following the completion of the sale, the insider now directly owns 7,250,762 shares in the company, valued at approximately $236,012,303.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Morningside Venture Investment also recently made the following trade(s):

• On Tuesday, March 14th, Morningside Venture Investment sold 70,714 shares of Amylyx Pharmaceuticals stock. The shares were sold at an average price of $34.54, for a total value of $2,442,461.56.
• On Thursday, March 2nd, Morningside Venture Investment sold 50,000 shares of Amylyx Pharmaceuticals stock. The shares were sold at an average price of $33.75, for a total value of $1,687,500.00.
• On Wednesday, February 22nd, Morningside Venture Investment sold 50,000 shares of Amylyx Pharmaceuticals stock. The shares were sold at an average price of $34.73, for a total value of $1,736,500.00.

Amylyx Pharmaceuticals Trading Down 5.6 %

AMLX stock traded down $1.79 during trading on Friday, hitting $30.29. The company had a trading volume of 1,729,819 shares, compared to its average volume of 937,620. The company has a fifty day moving average price of $35.76 and a two-hundred day moving average price of $34.16. The company has a market cap of $2.02 billion, a P/E ratio of -8.83 and a beta of -0.63. Amylyx Pharmaceuticals, Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $41.93.

Amylyx Pharmaceuticals (NASDAQ:AMLX – Get Rating) last announced its quarterly earnings results on Monday, March 13th. The company reported ($0.65) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.12. The company had revenue of $21.89 million during the quarter, compared to analyst estimates of $3.05 million. On average, analysts expect that Amylyx Pharmaceuticals, Inc. will post -0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMLX. HC Wainwright reissued a “buy” rating and set a $50.00 price objective on shares of Amylyx Pharmaceuticals in a report on Tuesday. Citigroup lifted their price objective on Amylyx Pharmaceuticals from $51.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday. Bank of America began coverage on Amylyx Pharmaceuticals in a report on Thursday, January 5th. They set a “buy” rating and a $50.00 price objective on the stock. Finally, The Goldman Sachs Group lifted their price objective on Amylyx Pharmaceuticals from $41.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Amylyx Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $50.20.

Institutional Trading of Amylyx Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Alliancebernstein L.P. raised its position in Amylyx Pharmaceuticals by 1.0% in the 3rd quarter. Alliancebernstein L.P. now owns 36,242 shares of the company’s stock valued at $1,020,000 after purchasing an additional 342 shares during the last quarter. Royal Bank of Canada raised its position in Amylyx Pharmaceuticals by 36.2% in the 3rd quarter. Royal Bank of Canada now owns 1,373 shares of the company’s stock valued at $38,000 after purchasing an additional 365 shares during the last quarter. High Net Worth Advisory Group LLC raised its position in shares of Amylyx Pharmaceuticals by 33.3% during the third quarter. High Net Worth Advisory Group LLC now owns 2,000 shares of the company’s stock worth $56,000 after acquiring an additional 500 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in shares of Amylyx Pharmaceuticals during the fourth quarter worth $25,000. Finally, Wells Fargo & Company MN raised its position in shares of Amylyx Pharmaceuticals by 79.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,719 shares of the company’s stock worth $64,000 after acquiring an additional 762 shares during the last quarter. Institutional investors and hedge funds own 70.55% of the company’s stock.

About Amylyx Pharmaceuticals

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Amylyx Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in developing various therapeutics for amyotrophic lateral sclerosis (ALS) and other neurodegenerative diseases. The company's product pipeline includes AMX0035, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of amyotrophic lateral sclerosis.