Assetmark Inc. Trims Stock Position in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Assetmark Inc. lessened its stake in Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 86.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,842 shares of the biopharmaceutical company's stock after selling 96,746 shares during the period. Assetmark Inc.'s holdings in Amicus Therapeutics were worth $121,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Amicus Therapeutics in the 4th quarter worth approximately $132,000. Thrivent Financial for Lutherans purchased a new position in shares of Amicus Therapeutics during the 4th quarter worth $104,000. Norges Bank purchased a new position in shares of Amicus Therapeutics during the 4th quarter valued at about $29,033,000. Massachusetts Financial Services Co. MA increased its stake in shares of Amicus Therapeutics by 3.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,267,375 shares of the biopharmaceutical company's stock worth $30,779,000 after purchasing an additional 107,348 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Amicus Therapeutics by 6.0% during the fourth quarter. Wells Fargo & Company MN now owns 439,471 shares of the biopharmaceutical company's stock valued at $4,140,000 after acquiring an additional 24,882 shares during the period.

Amicus Therapeutics Price Performance

Shares of NASDAQ:FOLD traded down $0.18 during midday trading on Thursday, reaching $6.76. 2,278,475 shares of the company's stock traded hands, compared to its average volume of 3,865,655. The company has a fifty day simple moving average of $6.10 and a two-hundred day simple moving average of $7.40. Amicus Therapeutics, Inc. has a 1 year low of $5.51 and a 1 year high of $12.65. The company has a market cap of $2.08 billion, a P/E ratio of -56.37 and a beta of 0.53. The company has a debt-to-equity ratio of 1.92, a quick ratio of 2.29 and a current ratio of 3.21.

Analyst Ratings Changes

Several brokerages have recently issued reports on FOLD. The Goldman Sachs Group reduced their target price on Amicus Therapeutics from $12.00 to $9.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Wall Street Zen upgraded Amicus Therapeutics from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. UBS Group raised their price target on shares of Amicus Therapeutics from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Morgan Stanley raised shares of Amicus Therapeutics from an "equal weight" rating to an "overweight" rating in a research report on Thursday, July 17th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $16.22.

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.