Assetmark Inc. Cuts Stake in Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Assetmark Inc. lessened its stake in Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 24.9% during the third quarter, HoldingsChannel reports. The firm owned 120,087 shares of the biopharmaceutical company’s stock after selling 39,781 shares during the period. Assetmark Inc.’s holdings in Amicus Therapeutics were worth $1,283,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Old West Investment Management LLC raised its stake in shares of Amicus Therapeutics by 617.2% in the third quarter. Old West Investment Management LLC now owns 340,441 shares of the biopharmaceutical company’s stock valued at $3,636,000 after buying an additional 292,976 shares during the period. AlphaCentric Advisors LLC increased its holdings in Amicus Therapeutics by 1.2% in the 3rd quarter. AlphaCentric Advisors LLC now owns 205,000 shares of the biopharmaceutical company’s stock worth $2,189,000 after acquiring an additional 2,500 shares during the last quarter. Hazlett Burt & Watson Inc. raised its stake in Amicus Therapeutics by 156.9% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 1,569 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in Amicus Therapeutics during the third quarter valued at about $32,000. Finally, Fullcircle Wealth LLC purchased a new stake in Amicus Therapeutics during the third quarter valued at about $136,000.

Amicus Therapeutics Price Performance

NASDAQ:FOLD opened at $10.09 on Friday. Amicus Therapeutics, Inc. has a 52-week low of $9.02 and a 52-week high of $14.57. The stock has a fifty day moving average of $11.04 and a 200 day moving average of $10.61. The company has a debt-to-equity ratio of 2.18, a quick ratio of 2.42 and a current ratio of 3.15. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of -29.68 and a beta of 0.68.

Insider Buying and Selling at Amicus Therapeutics

In related news, CEO Bradley L. Campbell sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $10.60, for a total value of $79,500.00. Following the transaction, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $9,398,532.40. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 30,401 shares of company stock valued at $352,038 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Amicus Therapeutics in a research report on Friday, September 6th. They issued a “buy” rating and a $18.00 price target on the stock. Bank of America lifted their price objective on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. StockNews.com downgraded Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Amicus Therapeutics from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Amicus Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $17.63.

Amicus Therapeutics Company Profile

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.