Primecap Management Co. CA Cuts Stock Position in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Primecap Management Co. CA cut its position in Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 3.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,052,500 shares of the biopharmaceutical company’s stock after selling 41,700 shares during the quarter. Primecap Management Co. CA owned approximately 0.36% of Amicus Therapeutics worth $10,441,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Comerica Bank grew its stake in shares of Amicus Therapeutics by 0.8% during the fourth quarter. Comerica Bank now owns 103,418 shares of the biopharmaceutical company’s stock worth $1,468,000 after acquiring an additional 774 shares during the last quarter. Franklin Resources Inc. boosted its stake in Amicus Therapeutics by 2.3% in the 4th quarter. Franklin Resources Inc. now owns 54,943 shares of the biopharmaceutical company’s stock worth $780,000 after purchasing an additional 1,258 shares in the last quarter. American International Group Inc. boosted its stake in Amicus Therapeutics by 0.9% in the 4th quarter. American International Group Inc. now owns 141,249 shares of the biopharmaceutical company’s stock worth $2,004,000 after purchasing an additional 1,298 shares in the last quarter. Arizona State Retirement System grew its position in Amicus Therapeutics by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 62,020 shares of the biopharmaceutical company’s stock worth $615,000 after purchasing an additional 1,577 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Amicus Therapeutics by 1.1% during the 2nd quarter. Principal Financial Group Inc. now owns 240,813 shares of the biopharmaceutical company’s stock valued at $2,389,000 after purchasing an additional 2,737 shares in the last quarter.

Insider Buying and Selling at Amicus Therapeutics

In other news, CEO Bradley L. Campbell sold 7,500 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $10.34, for a total transaction of $77,550.00. Following the sale, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at approximately $9,168,002.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 6,100 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $10.00, for a total transaction of $61,000.00. Following the completion of the transaction, the chief executive officer now directly owns 886,654 shares in the company, valued at $8,866,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bradley L. Campbell sold 7,500 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $10.34, for a total transaction of $77,550.00. Following the transaction, the chief executive officer now directly owns 886,654 shares in the company, valued at $9,168,002.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,100 shares of company stock valued at $226,375. Corporate insiders own 2.20% of the company’s stock.

Amicus Therapeutics Stock Down 2.6 %

Amicus Therapeutics stock opened at $10.91 on Thursday. The business’s 50-day moving average price is $11.00 and its 200 day moving average price is $10.74. The company has a quick ratio of 2.26, a current ratio of 2.75 and a debt-to-equity ratio of 2.93. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of -22.78 and a beta of 0.69. Amicus Therapeutics, Inc. has a 52 week low of $9.02 and a 52 week high of $14.57.

Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). Amicus Therapeutics had a negative net margin of 26.23% and a negative return on equity of 41.47%. The business had revenue of $126.67 million for the quarter, compared to analysts’ expectations of $121.21 million. During the same quarter last year, the company earned ($0.15) EPS. The business’s revenue was up 34.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Amicus Therapeutics, Inc. will post -0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FOLD has been the subject of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Jefferies Financial Group initiated coverage on Amicus Therapeutics in a research report on Friday, September 6th. They set a “buy” rating and a $18.00 price target for the company. Wells Fargo & Company assumed coverage on Amicus Therapeutics in a research note on Thursday, May 30th. They set an “overweight” rating and a $18.00 price target on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $17.25.

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.