Principal Financial Group Inc. Sells 213,538 Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD)

Principal Financial Group Inc. reduced its holdings in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 88.7% in the third quarter, HoldingsChannel.com reports. The fund owned 27,275 shares of the biopharmaceutical company’s stock after selling 213,538 shares during the quarter. Principal Financial Group Inc.’s holdings in Amicus Therapeutics were worth $291,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Xponance Inc. grew its stake in Amicus Therapeutics by 5.3% during the second quarter. Xponance Inc. now owns 18,555 shares of the biopharmaceutical company’s stock worth $184,000 after purchasing an additional 936 shares during the period. Hazlett Burt & Watson Inc. grew its position in shares of Amicus Therapeutics by 156.9% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 1,569 shares during the period. Arizona State Retirement System grew its position in shares of Amicus Therapeutics by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 62,020 shares of the biopharmaceutical company’s stock worth $615,000 after buying an additional 1,577 shares during the period. American International Group Inc. increased its stake in shares of Amicus Therapeutics by 1.3% in the 1st quarter. American International Group Inc. now owns 143,034 shares of the biopharmaceutical company’s stock valued at $1,685,000 after acquiring an additional 1,785 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Amicus Therapeutics by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,727 shares of the biopharmaceutical company’s stock valued at $115,000 after acquiring an additional 1,884 shares during the period.

Amicus Therapeutics Stock Performance

Shares of FOLD stock opened at $9.72 on Tuesday. The company has a debt-to-equity ratio of 2.18, a current ratio of 3.15 and a quick ratio of 2.42. The firm has a 50-day moving average of $10.80 and a 200-day moving average of $10.59. Amicus Therapeutics, Inc. has a one year low of $9.02 and a one year high of $14.57. The company has a market cap of $2.90 billion, a P/E ratio of -28.59 and a beta of 0.68.

Insider Buying and Selling at Amicus Therapeutics

In other news, CEO Bradley L. Campbell sold 7,901 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $12.50, for a total value of $98,762.50. Following the completion of the transaction, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at $11,083,175. This represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 30,401 shares of company stock worth $352,038. Insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on FOLD shares. Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a report on Thursday, November 7th. Jefferies Financial Group assumed coverage on Amicus Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $18.00 target price for the company. Morgan Stanley decreased their target price on Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. StockNews.com upgraded Amicus Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. 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 report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Amicus Therapeutics has an average rating of “Moderate Buy” and a consensus target price 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.