Principal Financial Group Inc. lessened its stake in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 88.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,275 shares of the biopharmaceutical company's stock after selling 213,538 shares during the quarter. Principal Financial Group Inc.'s holdings in Amicus Therapeutics were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Amicus Therapeutics by 13.5% during the 3rd quarter. Wellington Management Group LLP now owns 23,964,044 shares of the biopharmaceutical company's stock valued at $255,936,000 after acquiring an additional 2,856,101 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Amicus Therapeutics during the third quarter worth approximately $702,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Amicus Therapeutics by 51.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 222,934 shares of the biopharmaceutical company's stock worth $2,381,000 after purchasing an additional 75,807 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Amicus Therapeutics by 10.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,667,271 shares of the biopharmaceutical company's stock valued at $28,486,000 after purchasing an additional 242,672 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in shares of Amicus Therapeutics by 24.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 250,293 shares of the biopharmaceutical company's stock valued at $2,483,000 after buying an additional 48,802 shares during the period.
Analyst Ratings Changes
Several brokerages recently weighed in on FOLD. Guggenheim increased their target price on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Cantor Fitzgerald raised their price objective on Amicus Therapeutics from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. StockNews.com cut Amicus Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, December 18th. Bank of America raised their price target on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $12.00 price objective (down from $17.00) on shares of Amicus Therapeutics in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $16.88.
Read Our Latest Stock Analysis on FOLD
Amicus Therapeutics Stock Up 0.6 %
Shares of FOLD traded up $0.06 during mid-day trading on Tuesday, reaching $9.36. 1,600,118 shares of the stock traded hands, compared to its average volume of 1,819,755. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of -27.53 and a beta of 0.62. The stock has a fifty day simple moving average of $10.03 and a 200 day simple moving average of $10.56. The company has a quick ratio of 2.42, a current ratio of 3.15 and a debt-to-equity ratio of 2.18. Amicus Therapeutics, Inc. has a 12-month low of $9.02 and a 12-month high of $14.09.
Insider Buying and Selling
In related news, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics 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 sale, the chief executive officer now 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 filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 22,901 shares of company stock worth $259,863. 2.20% of the stock is currently owned by corporate insiders.
About Amicus Therapeutics
(
Free Report)
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.
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