Inceptionr LLC Raises Position in Amicus Therapeutics, Inc. $FOLD

Inceptionr LLC increased its stake in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 539.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,134 shares of the biopharmaceutical company’s stock after buying an additional 57,485 shares during the quarter. Inceptionr LLC’s holdings in Amicus Therapeutics were worth $537,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FOLD. Vanguard Group Inc. increased its holdings in Amicus Therapeutics by 0.4% during the third quarter. Vanguard Group Inc. now owns 29,534,029 shares of the biopharmaceutical company’s stock worth $232,728,000 after buying an additional 126,441 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Amicus Therapeutics by 7.6% during the 3rd quarter. William Blair Investment Management LLC now owns 15,749,240 shares of the biopharmaceutical company’s stock worth $124,104,000 after purchasing an additional 1,107,083 shares during the last quarter. Vestal Point Capital LP increased its stake in shares of 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 purchasing an additional 7,625,000 shares during the last quarter. State Street Corp raised its holdings in shares of Amicus Therapeutics by 21.5% in the 2nd quarter. State Street Corp now owns 11,568,097 shares of the biopharmaceutical company’s stock worth $66,285,000 after purchasing an additional 2,049,078 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of Amicus Therapeutics by 20.7% in the 2nd quarter. Bank of America Corp DE now owns 6,847,275 shares of the biopharmaceutical company’s stock worth $39,235,000 after purchasing an additional 1,172,596 shares during the period.

Amicus Therapeutics Price Performance

Amicus Therapeutics stock opened at $14.36 on Wednesday. The business has a 50-day simple moving average of $14.31 and a 200 day simple moving average of $11.05. Amicus Therapeutics, Inc. has a 52 week low of $5.51 and a 52 week high of $14.38. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of -179.50 and a beta of 0.43. The company has a quick ratio of 1.88, a current ratio of 2.84 and a debt-to-equity ratio of 1.43.

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

Analyst Ratings Changes

Several brokerages have weighed in on FOLD. Weiss Ratings reissued a “sell (d-)” rating on shares of Amicus Therapeutics in a report on Monday, December 29th. Leerink Partners lowered Amicus Therapeutics from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $17.00 to $14.50 in a research note on Monday, December 29th. Cantor Fitzgerald cut Amicus Therapeutics from an “overweight” rating to a “hold” rating and dropped their price target for the company from $21.00 to $14.50 in a research report on Friday, December 19th. Needham & Company LLC downgraded Amicus Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, December 19th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $14.50 price objective (down from $16.00) on shares of Amicus Therapeutics in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.39.

Insiders Place Their Bets

In related news, insider David Michael Clark sold 25,643 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $11.00, for a total value of $282,073.00. Following the completion of the transaction, the insider directly owned 271,332 shares in the company, valued at approximately $2,984,652. The trade was a 8.63% 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. Also, CEO Bradley L. Campbell sold 77,926 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $10.86, for a total value of $846,276.36. Following the sale, the chief executive officer owned 1,129,782 shares in the company, valued at $12,269,432.52. The trade was a 6.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 226,711 shares of company stock worth $2,887,822 in the last three months. Insiders own 2.20% of the company’s stock.

Amicus Therapeutics Company 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.