Los Angeles Capital Management LLC Trims Holdings in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Los Angeles Capital Management LLC reduced its stake in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 88.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,990 shares of the biopharmaceutical company’s stock after selling 104,370 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Amicus Therapeutics were worth $139,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FOLD. Vanguard Group Inc. raised its position in Amicus Therapeutics by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 28,492,486 shares of the biopharmaceutical company’s stock valued at $404,308,000 after purchasing an additional 1,360,613 shares in the last quarter. Norges Bank purchased a new stake in Amicus Therapeutics in the fourth quarter worth about $35,915,000. Assenagon Asset Management S.A. purchased a new stake in shares of Amicus Therapeutics in the 2nd quarter worth approximately $8,386,000. UBS Group AG boosted its stake in shares of Amicus Therapeutics by 58.1% during the fourth quarter. UBS Group AG now owns 824,708 shares of the biopharmaceutical company’s stock valued at $11,703,000 after purchasing an additional 303,038 shares in the last quarter. Finally, M&G Plc increased its holdings in Amicus Therapeutics by 12.4% during the second quarter. M&G Plc now owns 748,451 shares of the biopharmaceutical company’s stock valued at $7,485,000 after buying an additional 82,728 shares during the period.

Insider Activity at Amicus Therapeutics

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $11.71, for a total transaction of $87,825.00. Following the completion of the sale, the chief executive officer now owns 886,654 shares of the company’s stock, valued at approximately $10,382,718.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Bradley L. Campbell sold 7,500 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.71, for a total value of $87,825.00. Following the sale, the chief executive officer now owns 886,654 shares in the company, valued at $10,382,718.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bradley L. Campbell sold 6,100 shares of Amicus Therapeutics stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $10.00, for a total value of $61,000.00. Following the transaction, the chief executive officer now owns 886,654 shares of the company’s stock, valued at approximately $8,866,540. The disclosure for this sale can be found here. Insiders have sold a total of 21,100 shares of company stock valued at $226,375 in the last ninety days. Company insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FOLD shares. Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a report on Friday, August 9th. Jefferies Financial Group initiated coverage on Amicus Therapeutics in a research note on Friday, September 6th. They set a “buy” rating and a $18.00 price objective for the company. JPMorgan Chase & Co. cut their target price on Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Finally, Wells Fargo & Company initiated coverage on shares of Amicus Therapeutics in a research report on Thursday, May 30th. They set an “overweight” rating and a $18.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.25.

Amicus Therapeutics Price Performance

Shares of FOLD stock opened at $11.06 on Tuesday. Amicus Therapeutics, Inc. has a fifty-two week low of $9.02 and a fifty-two week high of $14.57. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.26 and a current ratio of 2.75. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of -22.57 and a beta of 0.69. The stock’s 50-day simple moving average is $10.98 and its 200-day simple moving average is $10.76.

Amicus Therapeutics (NASDAQ:FOLD) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $126.67 million for the quarter, compared to the consensus estimate of $121.21 million. Amicus Therapeutics had a negative net margin of 26.23% and a negative return on equity of 41.47%. Amicus Therapeutics’s revenue was up 34.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.15) EPS. As a group, equities analysts forecast that Amicus Therapeutics, Inc. will post -0.08 earnings per share for the current fiscal year.

Amicus Therapeutics Company 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.