Amylyx Pharmaceuticals chief legal officer sells $5,022 in stock

Gina Mazzariello, Chief Legal Officer at Amylyx Pharmaceuticals , Inc. (NASDAQ:AMLX), recently sold a portion of her holdings in the company. According to a recent SEC filing, Mazzariello sold 1,611 shares of common stock on March 3 at a weighted average price of approximately $3.12 per share. The total value of the transaction amounted to $5,022. The stock, currently trading at $3.36, has seen a significant decline from its 52-week high of $19.42, with the company’s market capitalization now standing at $205 million. InvestingPro analysis indicates the stock is currently fairly valued based on its comprehensive Fair Value model.

This transaction was conducted to cover tax withholding obligations related to the vesting of restricted stock units, and the sales were automatic, not at Mazzariello’s discretion. Following this transaction, she retains ownership of 133,310 shares of the company. The stock has experienced a challenging year, with a YTD return of -20.37%. For detailed insights into AMLX’s valuation metrics and financial health indicators, investors can access the comprehensive Pro Research Report available on InvestingPro.

In other recent news, Amylyx Pharmaceuticals announced that the FDA has lifted the clinical hold on its Phase 1 trial for AMX0114, a potential treatment for amyotrophic lateral sclerosis (ALS). This development allows Amylyx to proceed with patient screening and enrollment in the United States. The trial, named LUMINA, will also begin in Canada and aims to assess the safety and biological activity of AMX0114. In a separate development, Amylyx has entered into a collaboration with Gubra to develop a new GLP-1 receptor antagonist for diabetes treatment. Under the agreement, Gubra could receive over $50 million in development and commercialization milestones. Additionally, H.C. Wainwright reiterated a Buy rating for Amylyx, following the company’s disclosure of its Phase 3 trial design for avexitide, known as Lucidity. The trial will focus on participants who have undergone Roux-en-Y gastric bypass surgery, aiming to address post-bariatric hypoglycemia. These recent developments highlight Amylyx’s ongoing efforts to expand its research and development initiatives.

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