Perceptive Advisors LLC recently announced the acquisition of new stake in Amylyx Pharmaceuticals Inc. (NASDAQ:AMLX). The institutional investor has increased its shareholding in the Healthcare company by 11.26% to 6.09 million shares with purchase of 0.62 million shares. This fresh investment now brings its stake to 9.19% valued currently at $212.0 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.83 million to 4.31 million shares. And BlackRock Fund Advisors has lifted its position by 421.98% or 2.68 million shares – to 3.32 million shares.
With over 4.11 million Amylyx Pharmaceuticals Inc. (AMLX) shares trading Tuesday and a closing price of $34.10 on the day, the dollar volume was approximately $140.18 million. The shares have shown a positive half year performance of 21.27% and its price on 03/14/23 gained nearly 9.40%. Currently, there are 58.53M common shares owned by the public and among those 49.98M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for AMLX have a consensus price objective of $49.25. The analysts have set the share’s price value over the next 12 months at a high of $50.00 and a low of $47.00. The average price target is 29.55% above its recent price level and an upside to the estimated low will see the stock gain 27.45% over that period. But an upside of 31.8% will see the stock hit the forecast high price target while median target price for the stock is $50.00.
Insiders at the company have transacted a total of 21 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 693,071 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 1,437,275 shares.
The top 3 mutual fund holders in Amylyx Pharmaceuticals Inc. are Vanguard Total Stock Market Index, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF. Vanguard Total Stock Market Index owns 1.53 million shares of the company’s stock, all valued at over $53.21 million. The company bought an additional 21898.0 shares recently to bring their total holdings to about 2.31% of the shares outstanding. Vanguard Small Cap Index Fund bought 7098.0 shares to see its total holdings expand to 1.29 million shares valued at over $44.79 million and representing 1.94% of the shares outstanding. iShares Russell 2000 ETF sold 3510.0 shares to bring its total holdings to over 1.11 million shares at a value of $38.55 million. iShares Russell 2000 ETF now owns shares totaling to 1.67% of the shares outstanding.
Shares of Amylyx Pharmaceuticals Inc. (NASDAQ: AMLX) opened at $37.19, up $6.02 from a prior closing price of $31.17. However, the script later moved the day high at 38.32, up 9.40%. The company’s stock has a 5-day price change of -5.07% and -4.35% over the past three months. AMLX shares are trading -7.71% year to date (YTD), with the 12-month market performance up to 22.62% higher. It has a 12-month low price of $6.51 and touched a high of $41.93 over the same period. AMLX has an average intraday trading volume of 826.71K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.41%, -5.29%, and 15.18% respectively.
Institutional ownership of Amylyx Pharmaceuticals Inc. (NASDAQ: AMLX) shares accounts for 65.70% of the company’s 58.53M shares outstanding. Mutual fund holders own 24.65%, while other institutional holders and individual stakeholders account for 51.45% and 18.82% respectively.
It has a market capitalization of $2.44B. The earnings-per-share (ttm) stands at -$3.27. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.21% over the week and 6.38% over the month.
Analysts forecast that Amylyx Pharmaceuticals Inc. (AMLX) will achieve an EPS of -$0.83 for the current quarter, -$0.85 for the next quarter and -$1.99 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.94 while analysts give the company a high EPS estimate of -$0.72. Comparatively, EPS for the current quarter was -$4.15 a year ago. Earnings per share for the fiscal year are expected to decrease by -108.00%, and 45.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Amylyx Pharmaceuticals Inc. (AMLX) as a “Strong Buy” at a consensus score of 1.70. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 1 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AMLX, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on January 05, 2023, with the firm’s price target at $50. Citigroup coverage for the Amylyx Pharmaceuticals Inc. (AMLX) stock in a research note released on May 25, 2022 offered a Buy rating with a price target of $21.
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