Short Interest in Amicus Therapeutics, Inc. (NASDAQ:FOLD) Declines By 9.3%

Amicus Therapeutics, Inc. (NASDAQ:FOLD) was the target of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 19,900,000 shares, a drop of 9.3% from the October 15th total of 21,940,000 shares. Based on an average trading volume of 2,410,000 shares, the short-interest ratio is currently 8.3 days.

Amicus Therapeutics Stock Performance

Shares of NASDAQ FOLD traded down $0.18 during trading on Tuesday, reaching $9.48. 1,336,624 shares of the company traded hands, compared to its average volume of 2,719,973. The stock has a market cap of $2.83 billion, a P/E ratio of -27.91 and a beta of 0.68. The firm’s fifty day simple moving average is $10.96 and its 200 day simple moving average is $10.61. The company has a current ratio of 3.15, a quick ratio of 2.42 and a debt-to-equity ratio of 2.18. Amicus Therapeutics has a 12-month low of $9.02 and a 12-month high of $14.57.

Insider Buying and Selling at Amicus Therapeutics

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $10,382,718.34. This represents a 0.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 30,401 shares of company stock worth $352,038 over the last ninety days. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Amicus Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Xponance Inc. raised its position in Amicus Therapeutics by 5.3% in the 2nd quarter. Xponance Inc. now owns 18,555 shares of the biopharmaceutical company’s stock valued at $184,000 after purchasing an additional 936 shares in the last quarter. Hazlett Burt & Watson Inc. grew its position in shares of Amicus Therapeutics by 156.9% during the third 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. Arizona State Retirement System raised its holdings in shares of Amicus Therapeutics by 2.6% in the second quarter. Arizona State Retirement System now owns 62,020 shares of the biopharmaceutical company’s stock valued at $615,000 after buying an additional 1,577 shares during the last quarter. American International Group Inc. raised its stake in Amicus Therapeutics by 1.3% during the 1st quarter. American International Group Inc. now owns 143,034 shares of the biopharmaceutical company’s stock valued at $1,685,000 after acquiring an additional 1,785 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Amicus Therapeutics by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,727 shares of the biopharmaceutical company’s stock valued at $115,000 after purchasing an additional 1,884 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on Amicus Therapeutics in a research report on Friday, September 6th. They set a “buy” rating and a $18.00 price target on the stock. 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 research report on Thursday, October 17th. JPMorgan Chase & Co. boosted their price objective on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Guggenheim increased their price objective 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, Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Amicus Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $17.63.

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.