Bank of America Corp DE Purchases 6,034,147 Shares of Fractyl Health, Inc. $GUTS

Key Points

• Bank of America acquired 6.03 million Fractyl Health shares worth approximately $4.8 million, giving it a 3.79% stake. BlackRock and several other institutional investors also initiated or increased positions.
• Fractyl Health shares opened at $0.47, near the bottom of their 12-month range of $0.38 to $2.44. The company reported a quarterly loss of $0.12 per share, narrowly beating analyst expectations.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $5.50 price target; bullish targets include $4.00 from Craig Hallum and $8.00 from HC Wainwright.

Bank of America Corp DE acquired a new position in Fractyl Health, Inc. (NASDAQ:GUTS - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,034,147 shares of the company's stock, valued at approximately $4,791,000. Bank of America Corp DE owned approximately 3.79% of Fractyl Health at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GUTS. Sanctuary Advisors LLC acquired a new position in shares of Fractyl Health in the second quarter worth about $26,000. Accredited Investors Inc. acquired a new stake in Fractyl Health during the 1st quarter valued at approximately $46,000. FNY Investment Advisers LLC increased its holdings in Fractyl Health by 84.3% during the 2nd quarter. FNY Investment Advisers LLC now owns 65,420 shares of the company's stock worth $51,000 after purchasing an additional 29,920 shares during the last quarter. PEAK6 LLC acquired a new position in shares of Fractyl Health in the 2nd quarter valued at approximately $159,000. Finally, BlackRock Inc. acquired a new position in shares of Fractyl Health in the 2nd quarter valued at approximately $1,431,000.

Fractyl Health Stock Performance

Shares of GUTS opened at $0.47 on Tuesday. The stock has a market capitalization of $74.97 million, a PE ratio of -0.54 and a beta of 2.34. The business's fifty day moving average price is $0.67 and its 200 day moving average price is $0.68. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.15 and a quick ratio of 3.15. Fractyl Health, Inc. has a 12-month low of $0.38 and a 12-month high of $2.44.

Fractyl Health (NASDAQ:GUTS - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.02. Equities research analysts forecast that Fractyl Health, Inc. will post -0.53 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Weiss Ratings cut Fractyl Health from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, September 3rd. HC Wainwright reaffirmed a "buy" rating and issued a $8.00 price target on shares of Fractyl Health in a report on Thursday, June 4th. Wall Street Zen downgraded shares of Fractyl Health from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Finally, Craig Hallum assumed coverage on shares of Fractyl Health in a report on Wednesday, July 1st. They set a "buy" rating and a $4.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Fractyl Health has a consensus rating of "Hold" and a consensus target price of $5.50.

Fractyl Health Profile

Fractyl Health, Inc is a clinical-stage biotechnology company focused on developing therapies for metabolic diseases, including obesity and type 2 diabetes. The company is working to address the underlying biology of these conditions and pursue treatments that may provide more durable benefits than chronic dosing alone.

Fractyl Health's technologies include the investigational Revita duodenal mucosal resurfacing (DMR) system, an endoscopic procedure designed to alter the lining of the duodenum and potentially improve metabolic control.

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