Comerica Bank Has $230,000 Stake in Amicus Therapeutics, Inc. $FOLD

Key Points

• Comerica Bank has reduced its stake in Amicus Therapeutics by 62.4% in Q1 2023, now holding $230,000 worth of stock.
• Other institutional investors, such as Allspring Global Investments and Jefferies Financial Group, have increased their positions in Amicus Therapeutics, reflecting significant interest in the company.
• Amicus Therapeutics' stock currently has a consensus rating of "Moderate Buy" with a price target of $16.00, despite recently experiencing a 1.1% decline.

Comerica Bank trimmed its position in Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 62.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,132 shares of the biopharmaceutical company's stock after selling 46,688 shares during the period. Comerica Bank's holdings in Amicus Therapeutics were worth $230,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of FOLD. Allspring Global Investments Holdings LLC increased its position in Amicus Therapeutics by 53.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 24,530 shares of the biopharmaceutical company's stock worth $195,000 after buying an additional 8,567 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in Amicus Therapeutics during the first quarter worth approximately $1,533,000. Rice Hall James & Associates LLC lifted its stake in Amicus Therapeutics by 46.6% during the first quarter. Rice Hall James & Associates LLC now owns 2,010,104 shares of the biopharmaceutical company's stock worth $16,402,000 after purchasing an additional 639,024 shares during the last quarter. Invesco Ltd. lifted its stake in Amicus Therapeutics by 4.1% during the first quarter. Invesco Ltd. now owns 2,661,394 shares of the biopharmaceutical company's stock worth $21,717,000 after purchasing an additional 105,856 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Amicus Therapeutics by 47.4% in the 1st quarter. Victory Capital Management Inc. now owns 257,088 shares of the biopharmaceutical company's stock valued at $2,098,000 after acquiring an additional 82,691 shares during the last quarter.

Amicus Therapeutics Stock Down 1.1%

FOLD opened at $7.89 on Wednesday. The company has a fifty day moving average price of $6.83 and a 200-day moving average price of $7.03. The firm has a market capitalization of $2.43 billion, a P/E ratio of -65.74 and a beta of 0.55. The company has a debt-to-equity ratio of 1.92, a current ratio of 3.21 and a quick ratio of 2.29. Amicus Therapeutics, Inc. has a one year low of $5.51 and a one year high of $12.65.

Wall Street Analyst Weigh In

FOLD has been the subject of several analyst reports. Morgan Stanley raised Amicus Therapeutics from an "equal weight" rating to an "overweight" rating in a research report on Thursday, July 17th. Wall Street Zen downgraded 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 assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.00.

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.

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