Geode Capital Management LLC Cuts Stock Position in Amicus Therapeutics, Inc. $FOLD

Geode Capital Management LLC cut its holdings in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,706,489 shares of the biopharmaceutical company’s stock after selling 57,278 shares during the quarter. Geode Capital Management LLC’s holdings in Amicus Therapeutics were worth $38,434,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Amicus Therapeutics during the 1st quarter valued at about $1,736,000. Mackenzie Financial Corp boosted its holdings in shares of Amicus Therapeutics by 89.4% during the 1st quarter. Mackenzie Financial Corp now owns 42,605 shares of the biopharmaceutical company’s stock valued at $348,000 after buying an additional 20,107 shares in the last quarter. XTX Topco Ltd grew its holdings in Amicus Therapeutics by 177.1% in the first quarter. XTX Topco Ltd now owns 106,773 shares of the biopharmaceutical company’s stock worth $871,000 after purchasing an additional 68,245 shares during the period. Jefferies Financial Group Inc. bought a new position in Amicus Therapeutics during the 1st quarter valued at approximately $1,533,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Amicus Therapeutics by 211.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 3,497 shares during the last quarter.

Insider Activity

In related news, insider Jeff Castelli sold 76,158 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $10.16, for a total value of $773,765.28. Following the sale, the insider directly owned 439,318 shares of the company’s stock, valued at $4,463,470.88. This represents a 14.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Bradley L. Campbell sold 14,587 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $10.04, for a total transaction of $146,453.48. Following the completion of the sale, the chief executive officer directly owned 1,137,282 shares of the company’s stock, valued at approximately $11,418,311.28. The trade was a 1.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 201,652 shares of company stock valued at $2,019,288. 2.20% of the stock is currently owned by company insiders.

Amicus Therapeutics Stock Performance

NASDAQ:FOLD opened at $10.02 on Thursday. The firm has a market capitalization of $3.09 billion, a PE ratio of -83.49 and a beta of 0.66. The stock’s fifty day moving average is $8.73 and its 200 day moving average is $7.34. Amicus Therapeutics, Inc. has a fifty-two week low of $5.51 and a fifty-two week high of $10.57. The company has a debt-to-equity ratio of 1.92, a quick ratio of 2.29 and a current ratio of 3.21.

Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. The business had revenue of $169.06 million for the quarter, compared to analysts’ expectations of $165.24 million. Amicus Therapeutics had a negative net margin of 6.67% and a negative return on equity of 5.07%. The business’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share. Amicus Therapeutics has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Amicus Therapeutics, Inc. will post 0.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Amicus Therapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. The Goldman Sachs Group lifted their price target on shares of Amicus Therapeutics from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Zacks Research upgraded Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Wall Street Zen raised Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Amicus Therapeutics in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Amicus Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.57.

Amicus Therapeutics Profile

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.