JPMorgan Chase & Co. Sells 94,105 Shares of Amicus Therapeutics, Inc. $FOLD

JPMorgan Chase & Co. reduced its stake in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 4.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,116,166 shares of the biopharmaceutical company’s stock after selling 94,105 shares during the quarter. JPMorgan Chase & Co.’s holdings in Amicus Therapeutics were worth $16,675,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vestal Point Capital LP lifted its holdings in Amicus Therapeutics by 178.4% during the 2nd quarter. Vestal Point Capital LP now owns 11,900,000 shares of the biopharmaceutical company’s stock worth $68,187,000 after buying an additional 7,625,000 shares in the last quarter. Norges Bank bought a new stake in shares of Amicus Therapeutics during the second quarter worth $18,540,000. Qube Research & Technologies Ltd lifted its stake in shares of Amicus Therapeutics by 223.9% during the second quarter. Qube Research & Technologies Ltd now owns 3,466,911 shares of the biopharmaceutical company’s stock valued at $19,865,000 after acquiring an additional 2,396,410 shares during the period. State Street Corp lifted its stake in shares of Amicus Therapeutics by 21.5% during the second quarter. State Street Corp now owns 11,568,097 shares of the biopharmaceutical company’s stock valued at $66,285,000 after acquiring an additional 2,049,078 shares during the period. Finally, M&G PLC bought a new position in Amicus Therapeutics in the second quarter valued at about $11,310,000.

Amicus Therapeutics Stock Down 0.1%

Shares of NASDAQ:FOLD opened at $14.34 on Wednesday. The company has a 50 day moving average price of $14.30 and a two-hundred day moving average price of $10.81. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.88 and a current ratio of 2.84. The company has a market capitalization of $4.50 billion, a PE ratio of -179.25 and a beta of 0.43. Amicus Therapeutics, Inc. has a 52 week low of $5.51 and a 52 week high of $14.38.

Amicus Therapeutics (NASDAQ:FOLD) last announced its quarterly earnings results on Friday, February 20th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). Amicus Therapeutics had a positive return on equity of 4.15% and a negative net margin of 4.27%.The firm had revenue of $185.21 million for the quarter, compared to the consensus estimate of $185.00 million. During the same period in the prior year, the business earned $0.09 earnings per share. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. Analysts forecast that Amicus Therapeutics, Inc. will post 0.15 earnings per share for the current year.

Insider Transactions at Amicus Therapeutics

In other news, insider David Michael Clark sold 25,643 shares of Amicus Therapeutics stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $11.00, for a total transaction of $282,073.00. Following the transaction, the insider owned 271,332 shares in the company, valued at $2,984,652. The trade was a 8.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Bradley L. Campbell sold 77,926 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $10.86, for a total value of $846,276.36. Following the sale, the chief executive officer directly owned 1,129,782 shares of the company’s stock, valued at approximately $12,269,432.52. The trade was a 6.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 204,211 shares of company stock valued at $2,564,947. Insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FOLD shares. Zacks Research cut Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Amicus Therapeutics in a research note on Monday, December 29th. Wall Street Zen raised shares of Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. The Goldman Sachs Group lifted their target price on shares of Amicus Therapeutics from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Finally, Guggenheim downgraded Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $15.39.

Amicus Therapeutics Profile

Amicus Therapeutics (NASDAQ:FOLD) is a biopharmaceutical company focused on the discovery, development and commercialization of treatments for rare and orphan diseases. The company specializes in pharmacological chaperones and gene therapy approaches designed to address the underlying causes of lysosomal storage disorders. Its proprietary technology platform integrates structure?based drug design with precision medicine to identify small molecules that stabilize misfolded proteins and restore cellular function.

The company’s lead marketed product, Galafold (migalastat), is an oral pharmacological chaperone approved in the United States, European Union and other territories for the treatment of Fabry disease in patients with amenable genetic variants.