Hedge Fund Boosts Stake in Amylyx Stock to $63 Million — Should Investors Follow?
Key Points
Austin-based Saturn V Capital Management added 1.3 million shares of Amylyx Pharmaceuticals in the third quarter.
The overall position increased in value by $41.2 million from quarter to quarter.
Saturn V now holds 4.6 million AMLX shares worth about $62.6 million, making the position the fund's second-largest holding.
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On November 14, Austin-based Saturn V Capital Management disclosed a significant purchase of Amylyx Pharmaceuticals stock (NASDAQ:AMLX) that helped increase its position by $41.7 million quarter-over-quarter.
What Happened
According to a Securities and Exchange Commission (SEC) filing dated November 14, Saturn V Capital Management LP increased its stake in Amylyx Pharmaceuticals (NASDAQ:AMLX) by 1.3 million shares during the third quarter. The position’s value grew to $62.6 million as of September 30.
What Else to Know
Amylyx Pharmaceuticals now represents about 13.7% of Saturn V’s 13F reportable AUM.
Top holdings after this filing:
- NASDAQ: ABVX: $68 million (14.9% of AUM)
- NASDAQ: AMLX: $62.6 million (13.7% of AUM)
- NASDAQ: JAZZ: $39.6 million (8.7% of AUM)
- NASDAQ: DYN: $33.8 million (7.4% of AUM)
- NASDAQ: COGT: $29.1 million (6.4% of AUM)
As of Monday, shares were priced at $13.67, up a staggering 166% over the past year and well outperforming the S&P 500, which is up 12% in the same period.
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close Monday) | $13.67 |
| Market Capitalization | $1.5 billion |
| Net Income (TTM) | ($149.3 million) |
Company Snapshot
- Amylyx Pharmaceuticals develops therapeutics for neurodegenerative diseases, with a focus on amyotrophic lateral sclerosis (ALS); its lead product candidate is AMX0035.
- The company operates as a clinical-stage biopharmaceutical company.
- It targets patients with ALS and other neurodegenerative diseases.
Amylyx Pharmaceuticals, Inc. is a clinical-stage biotechnology company specializing in treatments for ALS and related neurodegenerative diseases.
Despite negative net income and minimal revenue, Amylyx has a targeted development pipeline focused on ALS and other neurodegenerative diseases.
Foolish Take
The move into Amylyx underscores how Saturn V continues to concentrate capital behind clinical-stage programs with meaningful catalysts ahead (the firm also invested in Pharvaris and Dyne Therapeutics last quarter). With shares still a fraction of their 2023 peak despite a sharp rebound this year, the fund is effectively leaning into asymmetric risk-reward tied to upcoming data readouts and a strengthened balance sheet. Amylyx ended the third quarter with $344 million in cash and now expects its runway to extend into 2028, supported by a $191 million equity raise completed in September.
The company is advancing several programs, including the pivotal Phase 3 LUCIDITY trial of avexitide, with recruitment expected to finish in the first quarter and topline results anticipated in the third quarter. Meanwhile, early Phase 1 LUMINA data for AMX0114 in ALS showed the therapy was generally well tolerated, allowing dose escalation to proceed with no treatment-related serious adverse events.
For Saturn V, the expanded position brings Amylyx to 13.7% of its 13F portfolio — its second-largest holding behind ABVX. That level of conviction signals confidence not only in Amylyx’s pipeline but in management’s discipline following a restructuring and reset of strategic focus
Glossary
13F reportable assets under management: The total value of securities a fund must disclose quarterly to the SEC on Form 13F.
Assets under management (AUM): The total market value of investments managed by a fund or investment firm.
Quarter-over-quarter: A comparison of financial data or performance between one quarter and the immediately preceding quarter.
Stake: The ownership interest or shareholding a fund or investor holds in a company.
Clinical-stage biopharmaceutical company: A company developing drugs that are still undergoing clinical trials and not yet approved for sale.
Therapeutics: Treatments or drugs developed to cure or manage diseases.
Development pipeline: The portfolio of drug candidates a company is researching and testing for future approval.
Neurodegenerative diseases: Disorders characterized by the progressive loss of nerve cell function, such as ALS or Alzheimer's disease.
ALS (amyotrophic lateral sclerosis): A progressive neurodegenerative disease affecting nerve cells in the brain and spinal cord.
Market Capitalization: The total value of a company's outstanding shares, calculated as share price times shares outstanding.
TTM: The 12-month period ending with the most recent quarterly report.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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