JPMorgan Chase & Co. Cuts Stock Holdings in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

JPMorgan Chase & Co. lowered its stake in Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 44.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,214,250 shares of the biopharmaceutical company's stock after selling 5,705,679 shares during the period. JPMorgan Chase & Co. owned 2.41% of Amicus Therapeutics worth $67,958,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Amicus Therapeutics during the third quarter valued at approximately $55,000. Point72 Asset Management L.P. purchased a new position in shares of Amicus Therapeutics in the third quarter worth $13,530,000. Point72 DIFC Ltd bought a new position in shares of Amicus Therapeutics during the third quarter valued at $704,000. Wellington Management Group LLP boosted 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 valued at $255,936,000 after buying an additional 2,856,101 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Amicus Therapeutics in the 3rd quarter worth about $405,000.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FOLD. Cantor Fitzgerald reissued an "overweight" rating and set a $21.00 price objective on shares of Amicus Therapeutics in a report on Wednesday, January 15th. StockNews.com downgraded Amicus Therapeutics from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Wells Fargo & Company cut their price target on Amicus Therapeutics from $18.00 to $17.00 and set an "overweight" rating for the company in a research note on Thursday, February 20th. Morgan Stanley reiterated an "equal weight" rating and issued a $12.00 price objective (down previously from $17.00) on shares of Amicus Therapeutics in a research note on Friday, December 13th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Amicus Therapeutics in a report on Thursday, February 20th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $16.75.

Amicus Therapeutics Price Performance

Shares of FOLD traded up $0.17 during trading hours on Wednesday, reaching $6.89. 9,531,645 shares of the stock traded hands, compared to its average volume of 2,579,784. The company has a market cap of $2.12 billion, a P/E ratio of -38.28, a price-to-earnings-growth ratio of 1.51 and a beta of 0.79. The company has a current ratio of 3.39, a quick ratio of 2.42 and a debt-to-equity ratio of 2.01. The company's 50-day moving average price is $8.84 and its two-hundred day moving average price is $9.71. Amicus Therapeutics, Inc. has a 52-week low of $6.21 and a 52-week high of $12.65.

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.