Principal Financial Group Inc. Reduces Holdings in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Principal Financial Group Inc. lessened its holdings in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 88.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,275 shares of the biopharmaceutical company’s stock after selling 213,538 shares during the period. Principal Financial Group Inc.’s holdings in Amicus Therapeutics were worth $291,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,901 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $12.50, for a total transaction of $98,762.50. Following the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at $11,083,175. This represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 22,901 shares of company stock valued at $259,863 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on FOLD. Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a report on Thursday, November 7th. Cantor Fitzgerald upped their price objective on Amicus Therapeutics from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Morgan Stanley reissued an “equal weight” rating and set a $12.00 target price (down previously from $17.00) on shares of Amicus Therapeutics in a research note on Friday, December 13th. Guggenheim upped their price target on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Bank of America increased their price objective 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Amicus Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $16.88.

Amicus Therapeutics Trading Down 1.2 %

FOLD stock opened at $9.30 on Tuesday. The firm has a fifty day moving average price of $10.07 and a 200 day moving average price of $10.57. Amicus Therapeutics, Inc. has a fifty-two week low of $9.02 and a fifty-two week high of $14.09. The firm has a market cap of $2.78 billion, a PE ratio of -27.35 and a beta of 0.60. The company has a debt-to-equity ratio of 2.18, a quick ratio of 2.42 and a current ratio of 3.15.

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.