Fractyl Health (NASDAQ:GUTS) Given New $39.00 Price Target at Canaccord Genuity Group

Fractyl Health (NASDAQ:GUTS) had its price target lowered by Canaccord Genuity Group from $96.00 to $39.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Several other equities analysts also recently commented on the stock. Weiss Ratings downgraded shares of Fractyl Health from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, September 3rd. Morgan Stanley cut their price objective on Fractyl Health to $4.00 and set an “equal weight” rating on the stock in a research report on Monday. Craig Hallum set a $5.00 price objective on Fractyl Health in a research note on Monday. Finally, Wall Street Zen lowered Fractyl Health from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $36.00.

Fractyl Health Stock Up 4.4%

Shares of GUTS stock traded up $0.06 during trading on Tuesday, reaching $1.44. The company’s stock had a trading volume of 151,070 shares, compared to its average volume of 329,767. Fractyl Health has a 1-year low of $1.36 and a 1-year high of $29.34. The stock’s 50-day moving average price is $6.75 and its 200 day moving average price is $8.03. The company has a market capitalization of $19.11 million, a price-to-earnings ratio of -0.14 and a beta of 2.42. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.15 and a quick ratio of 3.15.

Fractyl Health (NASDAQ:GUTS) last released its earnings results on Monday, August 10th. The company reported ($1.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.62) by $0.18. On average, research analysts anticipate that Fractyl Health will post -6.32 EPS for the current year.

Hedge Funds Weigh In On Fractyl Health

A number of institutional investors and hedge funds have recently made changes to their positions in GUTS. Sanctuary Advisors LLC purchased a new stake in shares of Fractyl Health during the second quarter worth approximately $26,000. Accredited Investors Inc. acquired a new stake in Fractyl Health in the first quarter valued at approximately $46,000. FNY Investment Advisers LLC lifted its stake in Fractyl Health by 84.3% in the second quarter. FNY Investment Advisers LLC now owns 65,420 shares of the company’s stock worth $51,000 after acquiring an additional 29,920 shares during the last quarter. PEAK6 LLC purchased a new position in Fractyl Health in the second quarter worth approximately $159,000. Finally, BlackRock Inc. acquired a new position in Fractyl Health during the 2nd quarter worth approximately $1,431,000.

About Fractyl Health

Fractyl Health, Inc is a clinical-stage biotechnology company focused on developing therapies for metabolic diseases, including type 2 diabetes and obesity. The company’s approach is based on targeting the biology of the gastrointestinal system and developing treatments intended to address underlying disease mechanisms rather than relying solely on chronic medication.

Fractyl Health’s lead product candidate is Revita, an investigational, minimally invasive endoscopic procedure designed to resurface the duodenal lining.