Fractyl Health (NASDAQ:GUTS) Now Covered by Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Fractyl Health (NASDAQ:GUTS) in a report issued on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $12.00 price target on the stock.

Separately, Morgan Stanley lowered their target price on Fractyl Health from $18.00 to $10.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd.

Fractyl Health Trading Down 1.5 %

GUTS opened at $0.99 on Tuesday. The company has a fifty day moving average price of $1.32 and a two-hundred day moving average price of $1.90. Fractyl Health has a 1-year low of $0.87 and a 1-year high of $7.89. The company has a market cap of $48.66 million, a P/E ratio of -0.08 and a beta of 0.30. The company has a current ratio of 5.58, a quick ratio of 5.57 and a debt-to-equity ratio of 0.60.

Fractyl Health (NASDAQ:GUTS) last issued its earnings results on Monday, March 3rd. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.08). Analysts predict that Fractyl Health will post -1.61 EPS for the current fiscal year.

Insider Transactions at Fractyl Health

In other Fractyl Health news, insider Jay David Caplan sold 22,346 shares of Fractyl Health stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $1.81, for a total transaction of $40,446.26. Following the completion of the transaction, the insider now owns 153,544 shares in the company, valued at approximately $277,914.64. The trade was a 12.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Harith Rajagopalan sold 90,972 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $1.82, for a total value of $165,569.04. Following the completion of the sale, the chief executive officer now directly owns 491,329 shares of the company’s stock, valued at approximately $894,218.78. This trade represents a 15.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Hedge Funds Weigh In On Fractyl Health

A number of hedge funds have recently bought and sold shares of GUTS. Geode Capital Management LLC lifted its position in shares of Fractyl Health by 166.5% during the third quarter. Geode Capital Management LLC now owns 501,476 shares of the company’s stock valued at $1,269,000 after purchasing an additional 313,335 shares in the last quarter. Blackstone Inc. bought a new position in shares of Fractyl Health during the 4th quarter worth approximately $212,000. Norges Bank purchased a new position in shares of Fractyl Health in the 4th quarter worth approximately $206,000. Northstar Financial Companies Inc. bought a new position in shares of Fractyl Health in the fourth quarter valued at approximately $140,000. Finally, Conservest Capital Advisors Inc. purchased a new stake in shares of Fractyl Health during the fourth quarter valued at approximately $132,000.

About Fractyl Health

Fractyl Health, Inc, a metabolic therapeutics company, develops therapies for the treatment of type 2 diabetes (T2D) and obesity. The company develops Revita DMR System (Revita), an outpatient procedural therapy designed to durably modify duodenal dysfunction, a pathologic consequence of a high fat and high sugar diet, which can initiate T2D and obesity in humans.