Jennison Associates LLC Buys Shares of 301,020 Fusion Pharmaceuticals Inc. (NASDAQ:FUSN)

Jennison Associates LLC purchased a new stake in shares of Fusion Pharmaceuticals Inc. (NASDAQ:FUSN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 301,020 shares of the company's stock, valued at approximately $2,893,000. Jennison Associates LLC owned about 0.42% of Fusion Pharmaceuticals at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Federated Hermes Inc. grew its holdings in Fusion Pharmaceuticals by 1.9% during the fourth quarter. Federated Hermes Inc. now owns 10,886,153 shares of the company's stock valued at $104,616,000 after purchasing an additional 202,364 shares during the period. HealthInvest Partners AB bought a new position in Fusion Pharmaceuticals during the fourth quarter valued at $1,201,000. Avidity Partners Management LP grew its holdings in Fusion Pharmaceuticals by 1.4% during the third quarter. Avidity Partners Management LP now owns 5,781,850 shares of the company's stock valued at $15,033,000 after purchasing an additional 81,850 shares during the period. Yarbrough Capital LLC bought a new position in Fusion Pharmaceuticals during the fourth quarter valued at $739,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Fusion Pharmaceuticals during the fourth quarter valued at $299,000. 72.85% of the stock is owned by hedge funds and other institutional investors.

Fusion Pharmaceuticals Price Performance

NASDAQ FUSN traded up $0.02 during trading hours on Friday, reaching $21.42. 351,216 shares of the stock traded hands, compared to its average volume of 1,117,502. The stock has a 50 day simple moving average of $17.05 and a two-hundred day simple moving average of $10.51. Fusion Pharmaceuticals Inc. has a 1 year low of $2.31 and a 1 year high of $21.55. The company has a debt-to-equity ratio of 0.16, a current ratio of 15.01 and a quick ratio of 15.01. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -14.57 and a beta of -0.72.

Fusion Pharmaceuticals (NASDAQ:FUSN - Get Free Report) last released its quarterly earnings results on Wednesday, March 20th. The company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.05). Fusion Pharmaceuticals had a negative net margin of 4,136.55% and a negative return on equity of 46.59%. On average, analysts predict that Fusion Pharmaceuticals Inc. will post -1.46 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on FUSN shares. Bloom Burton lowered Fusion Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Wednesday, March 20th. Wedbush lowered Fusion Pharmaceuticals from an "outperform" rating to a "neutral" rating and set a $24.00 price target for the company. in a report on Tuesday, March 19th. Leerink Partnrs lowered Fusion Pharmaceuticals from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 19th. SVB Leerink reaffirmed a "market perform" rating and issued a $21.00 price target (up from $17.00) on shares of Fusion Pharmaceuticals in a report on Tuesday, March 19th. Finally, Raymond James reaffirmed a "market perform" rating on shares of Fusion Pharmaceuticals in a report on Tuesday, March 19th. Thirteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $20.25.

Fusion Pharmaceuticals Profile

Fusion Pharmaceuticals Inc, a clinical-stage oncology company, focuses on developing radiopharmaceuticals as precision medicines in Canada and the United States. The company's lead product candidates include FPI-2265 that is in Phase 2 clinical trial to treat prostate-specific membrane antigens; and FPI-1434 that is in Phase 1 clinical trial as a monotherapy in patients with solid tumors expressing that target insulin-like growth factor 1 receptor.