683 Capital Management LLC Acquires Shares of 275,000 Amicus Therapeutics, Inc. $FOLD

Key Points

• 683 Capital Management LLC has invested approximately $2.24 million in Amicus Therapeutics, acquiring 275,000 shares, which represents about 0.09% of the company.
• Several institutional investors, including PNC Financial Services Group, have significantly increased their stakes in Amicus Therapeutics during the first quarter of the year.
• Amicus Therapeutics has received mixed ratings from analysts, with one downgrade to "hold" and an upgrade to "overweight," and it currently has an average price target of $16.22.

683 Capital Management LLC acquired a new position in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 275,000 shares of the biopharmaceutical company's stock, valued at approximately $2,244,000. 683 Capital Management LLC owned 0.09% of Amicus Therapeutics at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FOLD. Virtus Fund Advisers LLC purchased a new position in shares of Amicus Therapeutics during the 4th quarter valued at approximately $29,000. PNC Financial Services Group Inc. boosted its stake in shares of Amicus Therapeutics by 211.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the biopharmaceutical company's stock worth $42,000 after acquiring an additional 3,497 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Amicus Therapeutics during the 1st quarter worth about $53,000. GF Fund Management CO. LTD. purchased a new stake in shares of Amicus Therapeutics during the 4th quarter worth about $59,000. Finally, GAMMA Investing LLC boosted its stake in shares of Amicus Therapeutics by 1,610.8% during the 1st quarter. GAMMA Investing LLC now owns 7,442 shares of the biopharmaceutical company's stock worth $61,000 after acquiring an additional 7,007 shares in the last quarter.

Amicus Therapeutics Price Performance

FOLD stock traded down $0.03 during midday trading on Friday, reaching $7.99. The stock had a trading volume of 5,558,774 shares, compared to its average volume of 3,714,259. The company's fifty day simple moving average is $6.74 and its 200 day simple moving average is $7.06. The company has a current ratio of 3.21, a quick ratio of 2.29 and a debt-to-equity ratio of 1.92. The company has a market cap of $2.46 billion, a price-to-earnings ratio of -66.58 and a beta of 0.55. Amicus Therapeutics, Inc. has a 52-week low of $5.51 and a 52-week high of $12.65.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on FOLD shares. Morgan Stanley raised shares of Amicus Therapeutics from an "equal weight" rating to an "overweight" rating in a research note on Thursday, July 17th. Wall Street Zen lowered shares of Amicus Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.00.

Amicus Therapeutics Company 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.