BlackRock Inc. Invests $1.43 Million in Fractyl Health, Inc. $GUTS

Key Points

• BlackRock purchased 1.8 million Fractyl Health shares in the second quarter, valued at approximately $1.43 million and representing a 1.14% stake.
• Other institutional investors also increased their exposure, including Pale Fire Capital, which boosted its holdings by 84.5%, and 683 Capital Management, which raised its position by 30.1%. Company insiders purchased 151,493 shares worth about $113,350 over the past three months.
• Fractyl Health shares opened at $0.70, while analyst sentiment remained mixed: the stock carries a “Hold” consensus rating and an average price target of $5.50. The company reported a quarterly loss of $0.12 per share, beating estimates for a $0.14 loss.

BlackRock Inc. purchased a new stake in shares of Fractyl Health, Inc. (NASDAQ:GUTS - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,801,060 shares of the company's stock, valued at approximately $1,431,000. BlackRock Inc. owned approximately 1.14% of Fractyl Health at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in GUTS. Pale Fire Capital SE boosted its holdings in Fractyl Health by 84.5% in the first quarter. Pale Fire Capital SE now owns 5,921,045 shares of the company's stock worth $2,711,000 after purchasing an additional 2,711,103 shares during the last quarter. Atom Investors LP purchased a new stake in Fractyl Health during the 4th quarter valued at $4,143,000. 683 Capital Management LLC lifted its holdings in shares of Fractyl Health by 30.1% during the 4th quarter. 683 Capital Management LLC now owns 6,047,620 shares of the company's stock valued at $13,305,000 after buying an additional 1,397,620 shares during the period. Accredited Investors Inc. bought a new position in shares of Fractyl Health during the 1st quarter valued at $46,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Fractyl Health during the 3rd quarter valued at $81,000.

Fractyl Health Stock Performance

Shares of Fractyl Health stock opened at $0.70 on Monday. The company's fifty day simple moving average is $0.74 and its 200-day simple moving average is $0.67. The stock has a market capitalization of $110.88 million, a PE ratio of -0.79 and a beta of 2.34. Fractyl Health, Inc. has a 1-year low of $0.38 and a 1-year high of $2.44. 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 (NASDAQ:GUTS - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.02. As a group, equities analysts anticipate that Fractyl Health, Inc. will post -0.53 earnings per share for the current year.

Insider Activity

In related news, Director Ian Sheffield acquired 35,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were purchased at an average cost of $0.73 per share, with a total value of $25,550.00. Following the transaction, the director directly owned 35,000 shares in the company, valued at approximately $25,550. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William Bradley acquired 68,493 shares of the business's stock in a transaction that occurred on Wednesday, June 10th. The shares were bought at an average price of $0.73 per share, with a total value of $49,999.89. Following the completion of the purchase, the director owned 84,622 shares in the company, valued at $61,774.06. This trade represents a 424.66% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 151,493 shares of company stock valued at $113,350 in the last three months. 8.36% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GUTS has been the subject of several research analyst reports. Craig Hallum started coverage on Fractyl Health in a report on Wednesday, July 1st. They issued a "buy" rating and a $4.00 price objective for the company. Wall Street Zen cut Fractyl Health from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. HC Wainwright restated a "buy" rating and set a $8.00 price target on shares of Fractyl Health in a research note on Thursday, June 4th. Finally, Weiss Ratings lowered shares of Fractyl Health from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday. 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 MarketBeat, Fractyl Health currently has an average rating of "Hold" and an average price target of $5.50.

Fractyl Health Profile

Fractyl Health, Inc is a clinical-stage medical technology company focused on the development and commercialization of minimally invasive, endoscopic therapies for metabolic diseases. Headquartered in Lexington, Massachusetts, Fractyl is advancing treatments that target the underlying physiology of conditions such as type 2 diabetes, obesity and nonalcoholic fatty liver disease (NAFLD) by modifying the duodenal mucosa to improve metabolic control.

The company's lead product, Revita® Duodenal Mucosal Resurfacing (Revita DMR), employs a catheter-based hydrothermal ablation technique to remodel the lining of the upper small intestine.

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