Assenagon Asset Management S.A. Trims Position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Assenagon Asset Management S.A. cut its stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 36.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 760,469 shares of the company’s stock after selling 444,525 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.25% of Amneal Pharmaceuticals worth $6,023,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in shares of Amneal Pharmaceuticals by 149.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company’s stock valued at $10,792,000 after purchasing an additional 777,568 shares during the period. Franklin Resources Inc. increased its stake in Amneal Pharmaceuticals by 4.9% during the 3rd quarter. Franklin Resources Inc. now owns 89,887 shares of the company’s stock worth $778,000 after buying an additional 4,178 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Amneal Pharmaceuticals by 11.1% during the third quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock valued at $31,511,000 after acquiring an additional 378,136 shares during the last quarter. Barclays PLC lifted its position in shares of Amneal Pharmaceuticals by 134.1% in the third quarter. Barclays PLC now owns 296,384 shares of the company’s stock valued at $2,466,000 after acquiring an additional 169,756 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Amneal Pharmaceuticals during the third quarter worth $311,000. 31.82% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Amneal Pharmaceuticals

In other news, Director Gautam Patel sold 62,590 shares of Amneal Pharmaceuticals stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $8.01, for a total transaction of $501,345.90. Following the completion of the sale, the director now directly owns 1,968,886 shares in the company, valued at $15,770,776.86. The trade was a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jason B. Daly sold 43,657 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $8.61, for a total value of $375,886.77. Following the completion of the transaction, the senior vice president now owns 13,665 shares of the company’s stock, valued at $117,655.65. This trade represents a 76.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 123,657 shares of company stock valued at $1,016,687 in the last 90 days. 17.46% of the stock is currently owned by insiders.

Amneal Pharmaceuticals Stock Performance

Amneal Pharmaceuticals stock opened at $8.26 on Monday. The company has a market capitalization of $2.56 billion, a P/E ratio of -12.15 and a beta of 1.10. Amneal Pharmaceuticals, Inc. has a fifty-two week low of $5.01 and a fifty-two week high of $9.48. The stock has a 50-day simple moving average of $8.18 and a 200-day simple moving average of $8.12.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMRX. StockNews.com lowered shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. Truist Financial boosted their price target on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, Piper Sandler lifted their price target on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $10.00.

Amneal Pharmaceuticals Company Profile

Amneal Pharmaceuticals, Inc, together with its subsidiaries, develops, manufactures, markets, and distributes generics, injectables, biosimilars, and specialty branded pharmaceutical products worldwide. The company operates through three segments: Generics, Specialty, and AvKARE. The Generics segment offers immediate and extended release oral solid, powder, liquid, sterile injectable, nasal spray, inhalation and respiratory, biosimilar, ophthalmic, film, transdermal patch, and topical products.