Amicus Therapeutics, Inc. (NASDAQ:FOLD) Position Reduced by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd reduced its stock holdings in Amicus Therapeutics by 82.3% in the first quarter, now owning 21,451 shares valued at approximately $175,000.
• Amicus Therapeutics' stock experienced a 5.5% increase, trading at $6.32, with a significant trading volume of over 5.9 million shares.
• Brokerages issued varied ratings, with Goldman Sachs lowering its target price to $9.00 while UBS Group raised its target to $22.00, indicating a consensus rating of "Moderate Buy" across analysts.

Y Intercept Hong Kong Ltd trimmed its position in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD - Free Report) by 82.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,451 shares of the biopharmaceutical company's stock after selling 99,507 shares during the period. Y Intercept Hong Kong Ltd's holdings in Amicus Therapeutics were worth $175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in Amicus Therapeutics by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 29,258,963 shares of the biopharmaceutical company's stock valued at $275,619,000 after acquiring an additional 458,143 shares during the last quarter. Nuveen Asset Management LLC grew its position in Amicus Therapeutics by 4.4% in the 4th quarter. Nuveen Asset Management LLC now owns 3,807,420 shares of the biopharmaceutical company's stock valued at $35,866,000 after acquiring an additional 159,139 shares during the last quarter. Northern Trust Corp grew its position in Amicus Therapeutics by 5.9% in the 4th quarter. Northern Trust Corp now owns 3,371,639 shares of the biopharmaceutical company's stock valued at $31,761,000 after acquiring an additional 187,652 shares during the last quarter. Vestal Point Capital LP bought a new position in Amicus Therapeutics in the 4th quarter valued at $31,557,000. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Amicus Therapeutics by 0.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,276,371 shares of the biopharmaceutical company's stock worth $26,735,000 after buying an additional 8,996 shares in the last quarter.

Amicus Therapeutics Stock Up 6.9%

Shares of NASDAQ FOLD traded up $0.44 during midday trading on Monday, reaching $6.76. 1,962,962 shares of the company's stock were exchanged, compared to its average volume of 3,830,125. Amicus Therapeutics, Inc. has a 52-week low of $5.51 and a 52-week high of $12.65. The stock has a market capitalization of $2.08 billion, a PE ratio of -56.29 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. The business's fifty day moving average price is $6.05 and its two-hundred day moving average price is $7.42.

Wall Street Analysts Forecast Growth

FOLD has been the topic of a number of recent research reports. UBS Group increased their price target on Amicus Therapeutics from $21.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. The Goldman Sachs Group reduced their price objective on Amicus Therapeutics from $12.00 to $9.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Wall Street Zen upgraded Amicus Therapeutics from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Morgan Stanley raised Amicus Therapeutics from an "equal weight" rating to an "overweight" rating in a research note 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $16.22.

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.