JPMorgan Chase & Co. Sells 1,984,751 Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD)

JPMorgan Chase & Co. lowered its position in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 13.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,919,929 shares of the biopharmaceutical company's stock after selling 1,984,751 shares during the quarter. JPMorgan Chase & Co. owned 4.32% of Amicus Therapeutics worth $137,985,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. OLD Second National Bank of Aurora bought a new position in shares of Amicus Therapeutics during the 3rd quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. lifted its stake in Amicus Therapeutics by 156.9% in the third quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company's stock valued at $28,000 after purchasing an additional 1,569 shares during the last quarter. Blue Trust Inc. grew its holdings in Amicus Therapeutics by 1,705.4% during the third quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company's stock valued at $30,000 after purchasing an additional 2,831 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in Amicus Therapeutics in the third quarter worth $32,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Amicus Therapeutics in the third quarter valued at $55,000.

Insiders Place Their Bets

In related news, CEO Bradley L. Campbell sold 7,500 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $10.02, for a total value of $75,150.00. Following the completion of the transaction, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $8,884,273.08. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 22,901 shares of company stock worth $259,863 in the last ninety days. 2.20% of the stock is currently owned by insiders.

Amicus Therapeutics Price Performance

Shares of Amicus Therapeutics stock traded down $0.11 during trading on Thursday, hitting $9.31. The stock had a trading volume of 2,349,868 shares, compared to its average volume of 2,690,285. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -27.38 and a beta of 0.60. Amicus Therapeutics, Inc. has a 12 month low of $9.02 and a 12 month high of $14.12. The business's 50-day moving average is $10.16 and its 200 day moving average is $10.56. The company has a current ratio of 3.15, a quick ratio of 2.42 and a debt-to-equity ratio of 2.18.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Cantor Fitzgerald increased their price target on Amicus Therapeutics from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Bank of America lifted their target price on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. 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. JPMorgan Chase & Co. lifted their price objective on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the company an "overweight" rating in a research note on Tuesday, November 12th. Finally, Morgan Stanley restated an "equal weight" rating and set a $12.00 target price (down previously from $17.00) on shares of Amicus Therapeutics in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Amicus Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.88.

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.