Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Amylyx Pharmaceuticals Inc shares valued at $77,440 were sold by Klee Justin B. on Mar 05 ’24. At $18.73 per share, Klee Justin B. sold 4,135 shares. The insider’s holdings dropped to 2,959,308 shares worth approximately $5.92 million following the completion of this transaction.
Also, Cohen Joshua B sold 4,135 shares, netting a total of over 77,440 in proceeds. Following the sale of shares at $18.73 each, the insider now holds 3,023,002 shares.
Before that, FRATES JAMES M had sold 1,792 shares from its account. In a trade valued at $33,560, the Chief Financial Officer traded Amylyx Pharmaceuticals Inc shares for $18.73 each. Upon closing the transaction, the insider’s holdings decreased to 1,792 shares, worth approximately $0.27 million.
As published in a research note from Mizuho on March 18, 2024, Amylyx Pharmaceuticals Inc [AMLX] has been rated down from a Buy to a Neutral and the price target has been revised to $4 from $32. Analysts at Robert W. Baird downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid March. As of March 11, 2024, Leerink Partners has decreased its “an Outperform” rating to a “Market perform” for AMLX. Earlier on March 08, 2024, Goldman downgraded its rating. Their new recommendation was “a Neutral” for AMLX stock which previously was a “a Buy”.
Analyzing AMLX Stock Performance
During the last five days, there has been a drop of approximately -18.70%. Over the course of the year, Amylyx Pharmaceuticals Inc shares have dropped approximately -86.41%. Shares of the company reached a 52-week high of $19.95 on 02/29/24 and a 52-week low of $1.98 on 04/16/24. A 50-day SMA is recorded $9.07, while a 200-day SMA reached $15.64. Nevertheless, trading volume fell to 1.73 million shares from 3.71 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 1.97, which, if violated, would cause prices to drop to 1.93. In the upper region, resistance lies at 2.06. The next price resistance is at 2.11. RSI (Relative Strength Index) is 19.17 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.42, which suggests the price will decrease in the coming days. Percent R is at 98.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
