Morgan Stanley Lowers Fractyl Health (NASDAQ:GUTS) Price Target to $10.00

Fractyl Health (NASDAQ:GUTS) had its price target cut by stock analysts at Morgan Stanley from $18.00 to $10.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 464.97% from the stock’s current price.

Fractyl Health Stock Performance

GUTS traded down $0.07 during midday trading on Monday, reaching $1.77. The company’s stock had a trading volume of 98,001 shares, compared to its average volume of 385,754. The stock has a market cap of $85.14 million and a P/E ratio of -0.14. The company has a fifty day simple moving average of $2.06 and a 200 day simple moving average of $2.52. The company has a current ratio of 5.58, a quick ratio of 5.57 and a debt-to-equity ratio of 0.60. Fractyl Health has a twelve month low of $1.74 and a twelve month high of $13.99.

Fractyl Health (NASDAQ:GUTS) last released its earnings results on Tuesday, November 12th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.02. The business had revenue of $0.01 million during the quarter. Research analysts expect that Fractyl Health will post -1.66 earnings per share for the current year.

Insiders Place Their Bets

In other Fractyl Health news, insider Jay David Caplan sold 64,197 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $2.47, for a total value of $158,566.59. Following the completion of the sale, the insider now owns 153,544 shares in the company, valued at approximately $379,253.68. This trade represents a 29.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Harith Rajagopalan sold 96,517 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $2.47, for a total value of $238,396.99. Following the completion of the sale, the chief executive officer now owns 491,329 shares of the company’s stock, valued at $1,213,582.63. This represents a 16.42 % decrease in their position. The disclosure for this sale can be found here.

Hedge Funds Weigh In On Fractyl Health

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its position in shares of Fractyl Health by 54.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 21,072 shares of the company’s stock worth $53,000 after buying an additional 7,397 shares during the period. Jane Street Group LLC bought a new position in shares of Fractyl Health during the 3rd quarter worth approximately $25,000. Rhumbline Advisers lifted its position in shares of Fractyl Health by 73.1% during the 4th quarter. Rhumbline Advisers now owns 25,626 shares of the company’s stock worth $53,000 after buying an additional 10,826 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Fractyl Health by 335.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,807 shares of the company’s stock worth $37,000 after buying an additional 11,406 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Fractyl Health during the 3rd quarter worth approximately $33,000.

About Fractyl Health

Fractyl Health, Inc, a metabolic therapeutics company, develops therapies for the treatment of type 2 diabetes (T2D) and obesity. The company develops Revita DMR System (Revita), an outpatient procedural therapy designed to durably modify duodenal dysfunction, a pathologic consequence of a high fat and high sugar diet, which can initiate T2D and obesity in humans.