Qube Research & Technologies Ltd Increases Holdings in Amylyx Pharmaceuticals, Inc.
Qube Research & Technologies Ltd has upped its stake in Amylyx Pharmaceuticals, Inc. by 31.0% in the 3rd quarter, according to recent filings with the SEC. This move saw the firm acquiring an additional 38,530 shares, bringing their total holdings to 162,710 shares valued at $2,979,000.
Qube Research & Technologies Ltd has upped its stake in Amylyx Pharmaceuticals, Inc. by 31.0% in the 3rd quarter, according to recent filings with the SEC. This move saw the firm acquiring an additional 38,530 shares, bringing their total holdings to 162,710 shares valued at $2,979,000.
Institutional Investors Show Interest in Amylyx Pharmaceuticals
The trend of increasing interest in Amylyx Pharmaceuticals is not limited to Qube Research & Technologies Ltd. Other institutional investors and hedge funds have also been making moves. Rafferty Asset Management LLC acquired a new stake in the company during the 3rd quarter, valued at $207,000. Primecap Management Co. CA also joined the party with a new stake worth $5,583,000. Aigen Investment Management LP saw their holdings increase by 99.2% in the 3rd quarter, now owning 65,863 shares valued at $1,206,000. Swiss National Bank and Janney Montgomery Scott LLC also joined the ranks of investors in Amylyx Pharmaceuticals.
Insider Activity at Amylyx Pharmaceuticals
Insiders at Amylyx Pharmaceuticals have been active as well. Gina Mazzariello recently sold 2,838 shares at an average price of $18.76, totaling $53,240.88. CEO Justin B. Klee also sold 5,841 shares at $16.33 per share, amounting to $95,383.53. These transactions indicate insider confidence in the company's future prospects.
Amylyx Pharmaceuticals Trading Down 82.3%
Despite the positive developments in terms of investor interest and insider activity, Amylyx Pharmaceuticals stock has been trading down by 82.3%. The stock opened at $3.36 on Friday, with a 1 year low of $2.70 and a high of $38.32. The company's market cap stands at $227.75 million, with a PE ratio of 4.80 and a beta of -0.66.
Analysts Set New Price Targets
In the wake of recent developments, several equities research analysts have weighed in on Amylyx Pharmaceuticals. Mizuho lowered their target price from $46.00 to $27.00 and maintained a "buy" rating. Evercore ISI and The Goldman Sachs Group reiterated their ratings, with Deutsche Bank Aktiengesellschaft and Robert W. Baird also providing positive outlooks. Overall, Amylyx Pharmaceuticals currently holds an average rating of "Moderate Buy" with an average price target of $38.33.
About Amylyx Pharmaceuticals
Amylyx Pharmaceuticals, Inc. is a biotechnology company focused on the discovery and development of treatments for amyotrophic lateral sclerosis (ALS) and neurodegenerative diseases. Their product RELYVRIO offers hope for ALS patients in the United States and Canada.
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Summary: Qube Research & Technologies Ltd increases its holdings in Amylyx Pharmaceuticals, Inc. amid growing interest from institutional investors. Insider activity and analyst price targets suggest a positive outlook for the company, despite a decline in stock value. Amylyx Pharmaceuticals continues to focus on developing treatments for neurodegenerative diseases.
