Morningside Venture Investments Now Owns 6.86% of Amylyx Pharmaceuticals

Fintel reports that Morningside Venture Investments has filed a 13D/A form with the SEC disclosing ownership of 4.62MM shares of Amylyx Pharmaceuticals Inc (AMLX). This represents 6.86% of the company.

In their previous filing dated April 3, 2023 they reported 8.62MM shares and 12.92% of the company, a decrease in shares of 46.41% and a decrease in total ownership of 6.06% (calculated as current – previous percent ownership).

Analyst Price Forecast Suggests 147.16% Upside

As of August 2, 2023, the average one-year price target for Amylyx Pharmaceuticals is 49.47. The forecasts range from a low of 47.47 to a high of $52.50. The average price target represents an increase of 147.16% from its latest reported closing price of 20.02.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Amylyx Pharmaceuticals is 178MM, a decrease of 7.25%. The projected annual non-GAAP EPS is -2.35.

What is the Fund Sentiment?

There are 180 funds or institutions reporting positions in Amylyx Pharmaceuticals. This is an increase of 26 owner(s) or 16.88% in the last quarter. Average portfolio weight of all funds dedicated to AMLX is 0.20%, a decrease of 15.06%. Total shares owned by institutions increased in the last three months by 10.03% to 13,770K shares. The put/call ratio of AMLX is 0.53, indicating a bullish outlook.

What are Other Shareholders Doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,654K shares representing 2.45% ownership of the company. In it’s prior filing, the firm reported owning 1,506K shares, representing an increase of 8.92%. The firm decreased its portfolio allocation in AMLX by 19.50% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 1,388K shares representing 2.06% ownership of the company. In it’s prior filing, the firm reported owning 1,279K shares, representing an increase of 7.86%. The firm decreased its portfolio allocation in AMLX by 17.29% over the last quarter.

IWM – iShares Russell 2000 ETF holds 1,089K shares representing 1.62% ownership of the company. In it’s prior filing, the firm reported owning 1,155K shares, representing a decrease of 5.99%. The firm decreased its portfolio allocation in AMLX by 21.73% over the last quarter.

VISGX – Vanguard Small-Cap Growth Index Fund Investor Shares holds 793K shares representing 1.18% ownership of the company. In it’s prior filing, the firm reported owning 741K shares, representing an increase of 6.51%. The firm decreased its portfolio allocation in AMLX by 21.25% over the last quarter.

KAUAX – Federated Kaufmann Fund Shares holds 775K shares representing 1.15% ownership of the company. No change in the last quarter.

Amylyx Pharmaceuticals Background Information
(This description is provided by the company.)

Amylyx Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company working on developing a novel therapeutic for amyotrophic lateral sclerosis (ALS) and other neurodegenerative diseases.

This article originally appeared on Fintel