Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Amylyx Pharmaceuticals Inc. shares valued at $1,687,500 were sold by Morningside Venture Investment on Mar 02. At $33.75 per share, Morningside Venture Investment sold 50,000 shares. The insider’s holdings dropped to 7,480,598 shares worth approximately $248.06 million following the completion of this transaction.
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Also, Mazzariello Gina sold 3,586 shares, netting a total of over 123,672 in proceeds. Following the sale of shares at $34.49 each, the insider now holds 37,414 shares.
Before that, Morningside Venture Investment had sold 50,000 shares from its account. In a trade valued at $1,778,267, the 10% Owner traded Amylyx Pharmaceuticals Inc. shares for $35.57 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $251.37 million.
As published in their initiating research note from BofA Securities on January 05, 2023, Amylyx Pharmaceuticals Inc. [AMLX] has been a Buy and the price target has been revised to $50. This represents a 33.68% premium over Thursday’s closing price. Analysts at Citigroup started covering the stock with ‘”a Buy”‘ outlook in a report released in late May. As of April 01, 2022, Goldman has decreased its “Buy” rating to a “Neutral” for AMLX.
Analyzing AMLX Stock Performance
On Thursday, Amylyx Pharmaceuticals Inc. [NASDAQ: AMLX] plunged -8.14% to $33.16. The stock’s lowest price that day was $32.56, but it reached a high of $36.39 in the same session. During the last five days, there has been a drop of approximately -1.40%. Over the course of the year, Amylyx Pharmaceuticals Inc. shares have dropped approximately -10.26%. Shares of the company reached a 52-week high of $41.93 on 01/30/23 and a 52-week low of $32.56 on 03/09/23. A 50-day SMA is recorded $36.16, while a 200-day SMA reached $29.38. Nevertheless, trading volume fell to 0.71 million shares from 0.7 million shares the previous day.
Support And Resistance Levels for Amylyx Pharmaceuticals Inc. (AMLX)
According to the 24-hour chart, there is a support level at 31.68, which, if violated, would cause prices to drop to 30.21. In the upper region, resistance lies at 35.51. The next price resistance is at 37.87. RSI (Relative Strength Index) is 41.52 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.13, which suggests the price will decrease in the coming days. Percent R is at 87.10%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Amylyx Pharmaceuticals Inc. subject to short interest?
Stocks of Amylyx Pharmaceuticals Inc. saw a sharp rise in short interest on Jan 30, 2023 jumping by 100000.0 shares to 5.74 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 5.64 million shares. A jump of 1.74% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.81 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.81.
Which companies own the most shares of Amylyx Pharmaceuticals Inc. (AMLX)?
According to Perceptive Advisors LLC filings, the company currently owns 6,088,333 shares, which is about 9.19% of the total AMLX shares outstanding. The investor’s shares have appreciated by 616,300 from its previous 13-F filing of 5472033.0 shares. With the completion of the sale transaction, Viking Global Investors LP’s stake is now worth $181,630,209. The Vanguard Group, Inc. acquire a 23.87% interest valued at $168.82 million while BlackRock Fund Advisors purchased a 2,684,224 stake. A total of 2,693,000 shares of Amylyx Pharmaceuticals Inc. were bought by Deerfield Management Co. LP during the quarter, and 1,660,999 were bought by Point72 Asset Management LP. In its current portfolio, Adage Capital Management LP holds 1,909,201 shares valued at $74.82 million.
In terms of Amylyx Pharmaceuticals Inc. share price expectations, FactSet research, analysts set an average price target of $48.40 in the next 12 months, up nearly 38.5% from the previous closing price of $36.10. Analysts anticipate Amylyx Pharmaceuticals Inc. stock to reach $51.00 by 2023, with the lowest price target being $41.00. In spite of this, 6 analysts ranked Amylyx Pharmaceuticals Inc. stock as a Buy at the end of 2023.