Alpha Wave Global LP Invests $2.17 Million in Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX)

by · The Markets Daily

Alpha Wave Global LP acquired a new stake in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX – Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 669,487 shares of the company’s stock, valued at approximately $2,169,000. Amylyx Pharmaceuticals accounts for 0.7% of Alpha Wave Global LP’s investment portfolio, making the stock its 14th largest position. Alpha Wave Global LP owned about 0.98% of Amylyx Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMLX. Vanguard Group Inc. increased its holdings in Amylyx Pharmaceuticals by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 5,348,139 shares of the company’s stock valued at $15,189,000 after buying an additional 72,573 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Amylyx Pharmaceuticals by 8.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 970,555 shares of the company’s stock valued at $2,757,000 after purchasing an additional 75,775 shares during the period. Farallon Capital Management LLC acquired a new position in shares of Amylyx Pharmaceuticals in the 1st quarter worth approximately $3,267,000. CWM LLC lifted its position in shares of Amylyx Pharmaceuticals by 104.2% during the 2nd quarter. CWM LLC now owns 28,643 shares of the company’s stock worth $54,000 after buying an additional 14,613 shares during the period. Finally, SG Americas Securities LLC raised its stake in Amylyx Pharmaceuticals by 113.6% during the second quarter. SG Americas Securities LLC now owns 55,836 shares of the company’s stock worth $106,000 after acquiring an additional 29,697 shares in the last quarter. 95.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AMLX shares. HC Wainwright upped their target price on shares of Amylyx Pharmaceuticals from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Baird R W raised shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Bank of America upgraded shares of Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their target price for the company from $4.20 to $10.00 in a research note on Wednesday, October 23rd. Robert W. Baird upgraded Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $3.00 to $11.00 in a research report on Monday, November 18th. Finally, Leerink Partners set a $4.00 price objective on Amylyx Pharmaceuticals and gave the company a “market perform” rating in a research report on Friday, October 18th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Amylyx Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $11.43.

Check Out Our Latest Analysis on Amylyx Pharmaceuticals

Insider Activity

In other news, Director George M. Milne, Jr. bought 100,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $2.20 per share, with a total value of $220,000.00. Following the completion of the purchase, the director now owns 858,571 shares of the company’s stock, valued at approximately $1,888,856.20. This trade represents a 13.18 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Camille L. Bedrosian sold 11,442 shares of Amylyx Pharmaceuticals stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 11.70% of the stock is currently owned by company insiders.

Amylyx Pharmaceuticals Price Performance

Shares of NASDAQ AMLX opened at $5.45 on Wednesday. The company’s 50 day simple moving average is $4.49 and its 200 day simple moving average is $2.86. Amylyx Pharmaceuticals, Inc. has a fifty-two week low of $1.58 and a fifty-two week high of $19.95. The firm has a market capitalization of $373.60 million, a P/E ratio of -1.43 and a beta of -0.70.

Amylyx Pharmaceuticals Company Profile

(Free Report)

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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