Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Short Interest Update

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 1,290,000 shares, an increase of 27.7% from the October 15th total of 1,010,000 shares. Based on an average daily volume of 1,340,000 shares, the short-interest ratio is currently 1.0 days. Currently, 3.1% of the company’s stock are short sold.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ:AMLX traded down $0.37 during trading on Friday, reaching $4.65. The company had a trading volume of 777,695 shares, compared to its average volume of 2,019,306. Amylyx Pharmaceuticals has a fifty-two week low of $1.58 and a fifty-two week high of $19.95. The stock’s fifty day moving average price is $4.07 and its 200 day moving average price is $2.67. The firm has a market capitalization of $318.76 million, a price-to-earnings ratio of -1.24 and a beta of -0.70.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Leerink Partners set a $4.00 target price on Amylyx Pharmaceuticals and gave the company a “market perform” rating in a research report on Friday, October 18th. Bank of America raised Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price target for the company from $4.20 to $10.00 in a report on Wednesday, October 23rd. Finally, HC Wainwright boosted their price objective on shares of Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.14.

Insider Buying and Selling at Amylyx Pharmaceuticals

In other Amylyx Pharmaceuticals news, Director George M. Milne, Jr. acquired 100,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the acquisition, the director now owns 858,571 shares in the company, valued at approximately $1,888,856.20. This trade represents a 13.18 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Camille L. Bedrosian sold 11,442 shares of the business’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 $36,614.40. Following the sale, the insider now directly owns 143,801 shares in the company, valued at approximately $460,163.20. This represents a 7.37 % decrease in their position. The disclosure for this sale can be found here. 11.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

A number of large investors have recently bought and sold shares of the company. Walleye Capital LLC boosted its holdings in shares of Amylyx Pharmaceuticals by 986.5% in the third quarter. Walleye Capital LLC now owns 670,594 shares of the company’s stock valued at $2,173,000 after acquiring an additional 608,874 shares in the last quarter. Alpha Wave Global LP purchased a new stake in Amylyx Pharmaceuticals in the 3rd quarter valued at approximately $2,169,000. FMR LLC increased its position in Amylyx Pharmaceuticals by 292.0% during the 3rd quarter. FMR LLC now owns 221,001 shares of the company’s stock worth $716,000 after purchasing an additional 164,622 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Amylyx Pharmaceuticals by 41.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 880,745 shares of the company’s stock worth $2,854,000 after buying an additional 258,818 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Amylyx Pharmaceuticals by 63.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock valued at $42,000 after buying an additional 5,104 shares during the period. Hedge funds and other institutional investors own 95.84% of the company’s stock.

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.