Squarepoint Ops LLC Reduces Position in Amicus Therapeutics, Inc. $FOLD

Squarepoint Ops LLC trimmed its holdings in Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 40.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 918,885 shares of the biopharmaceutical company’s stock after selling 621,037 shares during the period. Squarepoint Ops LLC’s holdings in Amicus Therapeutics were worth $5,265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Invesco Ltd. grew its stake in shares of Amicus Therapeutics by 4.1% in the first quarter. Invesco Ltd. now owns 2,661,394 shares of the biopharmaceutical company’s stock valued at $21,717,000 after buying an additional 105,856 shares in the last quarter. Norges Bank acquired a new stake in shares of Amicus Therapeutics during the second quarter worth about $18,540,000. Capital Fund Management S.A. grew its holdings in shares of Amicus Therapeutics by 408.8% in the first quarter. Capital Fund Management S.A. now owns 312,561 shares of the biopharmaceutical company’s stock valued at $2,550,000 after purchasing an additional 251,134 shares in the last quarter. Jump Financial LLC boosted its position in Amicus Therapeutics by 246.3% in the 2nd quarter. Jump Financial LLC now owns 1,406,563 shares of the biopharmaceutical company’s stock valued at $8,060,000 after buying an additional 1,000,395 shares during the period. Finally, Advantage Alpha Capital Partners LP purchased a new stake in shares of Amicus Therapeutics during the second quarter worth $201,000.

Insider Activity

In related news, insider Jeff Castelli sold 76,158 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $10.16, for a total value of $773,765.28. Following the completion of the sale, the insider owned 439,318 shares in the company, valued at $4,463,470.88. This trade represents a 14.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ellen Rosenberg sold 36,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $10.00, for a total value of $360,000.00. Following the transaction, the insider owned 507,710 shares in the company, valued at $5,077,100. The trade was a 6.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 216,239 shares of company stock valued at $2,165,304. 2.20% of the stock is owned by insiders.

Amicus Therapeutics Stock Up 6.6%

FOLD stock opened at $10.55 on Monday. Amicus Therapeutics, Inc. has a 12 month low of $5.51 and a 12 month high of $11.00. The company has a market cap of $3.25 billion, a price-to-earnings ratio of -263.68 and a beta of 0.46. The company has a fifty day moving average price of $9.14 and a 200 day moving average price of $7.66. The company has a debt-to-equity ratio of 1.70, a current ratio of 2.99 and a quick ratio of 2.09.

Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.05. Amicus Therapeutics had a positive return on equity of 6.95% and a negative net margin of 2.35%.The company had revenue of $169.06 million during the quarter, compared to analysts’ expectations of $165.24 million. During the same period last year, the firm earned $0.10 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. Sell-side analysts expect that Amicus Therapeutics, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FOLD shares. Weiss Ratings restated a “sell (d-)” rating on shares of Amicus Therapeutics in a report on Monday, December 8th. JPMorgan Chase & Co. raised their target price on shares of Amicus Therapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Needham & Company LLC upgraded shares of Amicus Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Thursday, September 18th. The Goldman Sachs Group upped their price objective on Amicus Therapeutics from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Finally, Wall Street Zen raised shares of Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.33.

Amicus Therapeutics 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.