Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Sees Large Increase in Short Interest

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 1,940,000 shares, a growth of 23.6% from the December 31st total of 1,570,000 shares. Currently, 4.5% of the company’s stock are sold short. Based on an average trading volume of 1,250,000 shares, the short-interest ratio is currently 1.6 days.

Amylyx Pharmaceuticals Stock Down 0.9 %

NASDAQ:AMLX traded down $0.03 on Thursday, reaching $3.43. The company’s stock had a trading volume of 17,140 shares, compared to its average volume of 919,546. The firm has a market cap of $235.13 million, a price-to-earnings ratio of -0.90 and a beta of -0.53. The stock has a 50 day moving average price of $4.21 and a 200 day moving average price of $3.61. Amylyx Pharmaceuticals has a 12-month low of $1.58 and a 12-month high of $19.95.

Insider Transactions at Amylyx Pharmaceuticals

In other news, CEO Justin B. Klee sold 7,471 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $4.04, for a total value of $30,182.84. Following the sale, the chief executive officer now directly owns 3,176,788 shares of the company’s stock, valued at $12,834,223.52. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.70% of the company’s stock.

Institutional Trading of Amylyx Pharmaceuticals

A number of large investors have recently made changes to their positions in AMLX. AQR Capital Management LLC boosted its position in shares of Amylyx Pharmaceuticals by 2,768.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,340,943 shares of the company’s stock worth $6,348,000 after acquiring an additional 3,224,454 shares in the last quarter. abrdn plc increased its holdings in shares of 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 purchasing an additional 1,853,995 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Amylyx Pharmaceuticals by 41.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 880,745 shares of the company’s stock worth $2,854,000 after purchasing an additional 258,818 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Amylyx Pharmaceuticals by 15.2% during the second quarter. Renaissance Technologies LLC now owns 811,488 shares of the company’s stock worth $1,542,000 after purchasing an additional 106,888 shares during the period. Finally, Walleye Capital LLC grew its position in Amylyx Pharmaceuticals by 986.5% in the 3rd quarter. Walleye Capital LLC now owns 670,594 shares of the company’s stock valued at $2,173,000 after buying an additional 608,874 shares during the last quarter. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMLX has been the subject of a number of analyst reports. Baird R W raised Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Bank of America raised Amylyx Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their target price for the stock from $4.20 to $10.00 in a research note on Wednesday, October 23rd. Leerink Partners set a $4.00 price objective on shares of Amylyx Pharmaceuticals and gave the company a “market perform” rating in a report on Friday, October 18th. Robert W. Baird raised shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and raised their price target for the company from $3.00 to $11.00 in a research note on Monday, November 18th. Finally, HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Amylyx Pharmaceuticals in a report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.33.

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.