Short Interest in Amicus Therapeutics, Inc. (NASDAQ:FOLD) Declines By 5.9%

Amicus Therapeutics, Inc. (NASDAQ:FOLD) was the target of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 19,600,000 shares, a decrease of 5.9% from the November 30th total of 20,830,000 shares. Based on an average daily trading volume, of 2,550,000 shares, the short-interest ratio is presently 7.7 days.

Insider Activity

In related news, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $11.46, for a total transaction of $85,950.00. Following the transaction, the chief executive officer now owns 886,654 shares in the company, valued at approximately $10,161,054.84. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 22,901 shares of company stock worth $259,863 over the last three months. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Amicus Therapeutics

Several institutional investors have recently modified their holdings of FOLD. Wellington Management Group LLP grew its position in shares of Amicus Therapeutics by 13.5% during the third quarter. Wellington Management Group LLP now owns 23,964,044 shares of the biopharmaceutical company’s stock worth $255,936,000 after buying an additional 2,856,101 shares in the last quarter. Millennium Management LLC grew its holdings in Amicus Therapeutics by 1,758.9% during the 2nd quarter. Millennium Management LLC now owns 1,894,176 shares of the biopharmaceutical company’s stock worth $18,790,000 after acquiring an additional 1,792,277 shares in the last quarter. William Blair Investment Management LLC grew its holdings in Amicus Therapeutics by 12.8% during the 2nd quarter. William Blair Investment Management LLC now owns 13,003,363 shares of the biopharmaceutical company’s stock worth $128,993,000 after acquiring an additional 1,477,084 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Amicus Therapeutics in the 3rd quarter valued at approximately $13,530,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Amicus Therapeutics by 141.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,037,896 shares of the biopharmaceutical company’s stock valued at $21,765,000 after purchasing an additional 1,192,489 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have commented on FOLD. Jefferies Financial Group started coverage on shares of Amicus Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $18.00 target price on the stock. Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Morgan Stanley reiterated an “equal weight” rating and set a $12.00 price target (down from $17.00) on shares of Amicus Therapeutics in a research report on Friday, December 13th. Finally, StockNews.com lowered shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.88.

Amicus Therapeutics Stock Up 0.1 %

Shares of NASDAQ FOLD traded up $0.01 during midday trading on Wednesday, hitting $9.42. The company’s stock had a trading volume of 1,363,928 shares, compared to its average volume of 2,690,285. The company has a debt-to-equity ratio of 2.18, a current ratio of 3.15 and a quick ratio of 2.42. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -27.71 and a beta of 0.60. The business’s fifty day simple moving average is $10.21 and its two-hundred day simple moving average is $10.57. Amicus Therapeutics has a 1 year low of $9.02 and a 1 year high of $14.53.

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.