Fractyl Health (NASDAQ:GUTS) Earns Buy Rating from Canaccord Genuity Group

Key Points

• Canaccord Genuity reiterated a Buy rating on Fractyl Health (NASDAQ:GUTS) with an $8.00 price objective.
• Analyst coverage is mixed—three Buy, one Hold and one Sell—resulting in a consensus rating of Hold and a consensus price target of $5.40.
• Fractyl beat quarterly estimates with EPS of $0.15, but the stock trades around $0.47 with a market cap near $64.3M, and several institutional investors have taken sizable positions.

Fractyl Health (NASDAQ:GUTS - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Canaccord Genuity Group in a report issued on Thursday,Benzinga reports. They currently have a $8.00 price objective on the stock.

GUTS has been the subject of a number of other reports. HC Wainwright reissued a "buy" rating and set a $8.00 price target on shares of Fractyl Health in a research report on Tuesday, December 2nd. Morgan Stanley downgraded shares of Fractyl Health from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $8.00 to $2.00 in a report on Thursday, January 29th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Fractyl Health in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Fractyl Health presently has a consensus rating of "Hold" and a consensus price target of $5.40.

Fractyl Health Price Performance

Fractyl Health stock traded down $0.03 during trading hours on Thursday, hitting $0.47. 808,538 shares of the stock traded hands, compared to its average volume of 5,839,887. The firm's 50 day moving average price is $0.76 and its 200-day moving average price is $1.29. The stock has a market capitalization of $64.27 million, a price-to-earnings ratio of -0.25 and a beta of 1.51. Fractyl Health has a 1 year low of $0.38 and a 1 year high of $3.03.

Fractyl Health (NASDAQ:GUTS - Get Free Report) last announced its quarterly earnings data on Tuesday, March 24th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.34. Research analysts forecast that Fractyl Health will post -1.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fractyl Health

A number of hedge funds and other institutional investors have recently made changes to their positions in GUTS. Nantahala Capital Management LLC purchased a new position in shares of Fractyl Health during the 3rd quarter valued at approximately $19,298,000. Alyeska Investment Group L.P. acquired a new stake in Fractyl Health during the third quarter valued at $8,981,000. Rosalind Advisors Inc. acquired a new stake in Fractyl Health during the third quarter valued at $7,950,000. Woodline Partners LP increased its holdings in Fractyl Health by 821.1% in the third quarter. Woodline Partners LP now owns 5,506,534 shares of the company's stock valued at $8,755,000 after buying an additional 4,908,693 shares in the last quarter. Finally, General Catalyst Group Management LLC purchased a new position in Fractyl Health in the second quarter valued at $7,912,000.

Fractyl Health Company 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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