Amicus Therapeutics, Inc. (NASDAQ:FOLD) Short Interest Down 9.3% in October

Amicus Therapeutics, Inc. (NASDAQ:FOLD) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 19,900,000 shares, a drop of 9.3% from the October 15th total of 21,940,000 shares. Based on an average daily volume of 2,410,000 shares, the days-to-cover ratio is presently 8.3 days.

Insider Buying and Selling

In related news, CEO Bradley L. Campbell sold 7,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $10.60, for a total value of $79,500.00. Following the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $9,398,532.40. The trade was a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 30,401 shares of company stock valued at $352,038. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FOLD. Assenagon Asset Management S.A. acquired a new position in Amicus Therapeutics in the second quarter valued at approximately $8,386,000. M&G Plc grew its position in shares of Amicus Therapeutics by 12.4% in the 2nd quarter. M&G Plc now owns 748,451 shares of the biopharmaceutical company’s stock valued at $7,485,000 after buying an additional 82,728 shares during the last quarter. Edgestream Partners L.P. raised its stake in Amicus Therapeutics by 1,290.4% during the 1st quarter. Edgestream Partners L.P. now owns 270,164 shares of the biopharmaceutical company’s stock worth $3,183,000 after acquiring an additional 250,734 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Amicus Therapeutics by 7.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 100,538 shares of the biopharmaceutical company’s stock valued at $1,183,000 after acquiring an additional 7,304 shares during the last quarter. Finally, Fiera Capital Corp boosted its stake in Amicus Therapeutics by 1.1% in the second quarter. Fiera Capital Corp now owns 5,280,442 shares of the biopharmaceutical company’s stock valued at $52,382,000 after acquiring an additional 58,113 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FOLD shares. Guggenheim increased their price target on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Bank of America increased their price target on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Morgan Stanley dropped their target price on Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Jefferies Financial Group began coverage on shares of Amicus Therapeutics in a research note on Friday, September 6th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $17.63.

Amicus Therapeutics Stock Down 0.2 %

NASDAQ FOLD traded down $0.02 during trading hours on Monday, hitting $9.66. 2,325,383 shares of the company were exchanged, compared to its average volume of 2,726,177. Amicus Therapeutics has a 52-week low of $9.02 and a 52-week high of $14.57. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of -28.41 and a beta of 0.68. The company has a quick ratio of 2.42, a current ratio of 3.15 and a debt-to-equity ratio of 2.18. The company has a 50 day moving average of $10.96 and a two-hundred day moving average of $10.61.

About Amicus Therapeutics

Amicus Therapeutics, Inc, a biotechnology company, focuses on discovering, developing, and delivering medicines for rare diseases. Its commercial product and product candidates include Galafold, an oral precision medicine for the treatment of adults with a confirmed diagnosis of Fabry disease and an amenable galactosidase alpha gene variant; and Pombiliti + Opfolda, for the treatment of late onset.