Charles Schwab Investment Management Inc. lessened its stake in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX – Free Report) by 42.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 302,270 shares of the company’s stock after selling 219,349 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Amylyx Pharmaceuticals were worth $979,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in AMLX. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Amylyx Pharmaceuticals by 41.6% in 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 during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Amylyx Pharmaceuticals by 63.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,094 shares of the company’s stock valued at $42,000 after acquiring an additional 5,104 shares in the last quarter. abrdn plc boosted its stake in Amylyx Pharmaceuticals by 1,567.9% in the third quarter. abrdn plc now owns 1,972,242 shares of the company’s stock valued at $6,390,000 after acquiring an additional 1,853,995 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Amylyx Pharmaceuticals in the second quarter worth $156,000. Finally, Maven Securities LTD increased its position in shares of Amylyx Pharmaceuticals by 300.0% during the second quarter. Maven Securities LTD now owns 100,000 shares of the company’s stock worth $190,000 after purchasing an additional 75,000 shares in the last quarter. 95.84% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
AMLX has been the subject of a number of recent analyst reports. Leerink Partners set a $4.00 price objective on Amylyx Pharmaceuticals and gave the stock a “market perform” rating in a research report on Friday, October 18th. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Amylyx Pharmaceuticals in a report on Thursday, December 5th. Baird R W upgraded Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Robert W. Baird raised shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $3.00 to $11.00 in a research report on Monday, November 18th. Finally, Bank of America raised shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $4.20 to $10.00 in a research report on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $7.33.
Insider Buying and Selling at Amylyx Pharmaceuticals
In related news, CEO Justin B. Klee sold 18,589 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $3.20, for a total transaction of $59,484.80. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Camille L. Bedrosian sold 11,442 shares of Amylyx Pharmaceuticals 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 transaction, the insider now owns 143,801 shares of the company’s stock, valued at approximately $460,163.20. This represents a 7.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.70% of the company’s stock.
Amylyx Pharmaceuticals Stock Up 2.4 %
Shares of NASDAQ AMLX opened at $4.28 on Wednesday. Amylyx Pharmaceuticals, Inc. has a 52 week low of $1.58 and a 52 week high of $19.95. The business’s 50 day moving average price is $5.06 and its 200 day moving average price is $3.20. The firm has a market cap of $293.39 million, a P/E ratio of -1.12 and a beta of -0.68.
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.
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