Geode Capital Management LLC Acquires 80,926 Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Geode Capital Management LLC raised its holdings in Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 1.2% during the third quarter, Holdings Channel.com reports. The fund owned 6,599,871 shares of the biopharmaceutical company’s stock after purchasing an additional 80,926 shares during the period. Geode Capital Management LLC’s holdings in Amicus Therapeutics were worth $70,499,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. OLD Second National Bank of Aurora acquired a new position in shares of Amicus Therapeutics during the 3rd quarter worth about $26,000. Hazlett Burt & Watson Inc. boosted its stake in Amicus Therapeutics by 156.9% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 1,569 shares during the last quarter. Blue Trust Inc. grew its holdings in Amicus Therapeutics by 1,705.4% during the third quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 2,831 shares during the period. Arcadia Investment Management Corp MI bought a new stake in Amicus Therapeutics in the third quarter valued at approximately $32,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Amicus Therapeutics in the third quarter worth $55,000.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Morgan Stanley restated an “equal weight” rating and issued a $12.00 price objective (down previously from $17.00) on shares of Amicus Therapeutics in a research report on Friday, December 13th. JPMorgan Chase & Co. increased their price target on Amicus Therapeutics from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a research report on Thursday, November 7th. Cantor Fitzgerald raised their target price on shares of Amicus Therapeutics from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Bank of America upped their price target on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.88.

Insider Buying and Selling

In related news, CEO Bradley L. Campbell sold 7,500 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $10.02, for a total transaction of $75,150.00. Following the sale, the chief executive officer now owns 886,654 shares in the company, valued at approximately $8,884,273.08. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 30,401 shares of company stock worth $339,363. 2.20% of the stock is owned by insiders.

Amicus Therapeutics Price Performance

Shares of FOLD opened at $9.80 on Friday. The company has a quick ratio of 2.42, a current ratio of 3.15 and a debt-to-equity ratio of 2.18. Amicus Therapeutics, Inc. has a twelve month low of $9.02 and a twelve month high of $14.57. The stock has a market capitalization of $2.93 billion, a P/E ratio of -28.82 and a beta of 0.60. The company has a 50 day moving average of $10.48 and a 200-day moving average of $10.61.

About Amicus Therapeutics

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.