Wells Fargo & Company MN Reduces Stock Position in Eidos Therapeutics Inc (NASDAQ:EIDX)

Wells Fargo & Company MN lessened its holdings in Eidos Therapeutics Inc (NASDAQ:EIDX) by 34.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,323 shares of the company’s stock after selling 3,300 shares during the quarter. Wells Fargo & Company MN’s holdings in Eidos Therapeutics were worth $196,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of EIDX. SG Americas Securities LLC purchased a new position in shares of Eidos Therapeutics during the second quarter worth about $125,000. Metropolitan Life Insurance Co NY purchased a new position in shares of Eidos Therapeutics during the first quarter worth about $143,000. MetLife Investment Advisors LLC purchased a new position in shares of Eidos Therapeutics during the first quarter worth about $198,000. Strs Ohio grew its holdings in shares of Eidos Therapeutics by 457.1% during the second quarter. Strs Ohio now owns 11,700 shares of the company’s stock worth $363,000 after purchasing an additional 9,600 shares during the last quarter. Finally, Swiss National Bank purchased a new position in shares of Eidos Therapeutics during the second quarter worth about $426,000. 32.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of EIDX stock opened at $38.58 on Friday. The stock’s 50-day moving average is $41.28 and its two-hundred day moving average is $32.90. Eidos Therapeutics Inc has a 1 year low of $9.03 and a 1 year high of $49.72. The company has a quick ratio of 20.89, a current ratio of 20.89 and a debt-to-equity ratio of 0.01.

Eidos Therapeutics (NASDAQ:EIDX) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.01). Research analysts forecast that Eidos Therapeutics Inc will post -1.7 earnings per share for the current year.

In related news, insider Uma Sinha sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $38.41, for a total transaction of $96,025.00. Also, insider Jonathan C. Fox sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.72, for a total value of $193,600.00. Following the transaction, the insider now directly owns 2,850 shares in the company, valued at approximately $110,352. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,500 shares of company stock worth $1,299,575. Corporate insiders own 70.10% of the company’s stock.

EIDX has been the topic of several research reports. Piper Jaffray Companies initiated coverage on Eidos Therapeutics in a report on Monday, July 22nd. They set an “overweight” rating and a $55.00 price objective on the stock. BTIG Research set a $56.00 price objective on Eidos Therapeutics and gave the stock a “buy” rating in a report on Friday, September 13th. BMO Capital Markets raised their price objective on Eidos Therapeutics to $50.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Zacks Investment Research lowered Eidos Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, ValuEngine lowered Eidos Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. Eidos Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $41.67.

Eidos Therapeutics Company Profile

Eidos Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on developing drugs to treat diseases caused by transthyretin (TTR) amyloidosis (ATTR). It is developing AG10, an orally-administered small molecule designed to stabilize tetrameric TTR, thereby halting at its outset the series of molecular events that give rise to ATTR.

Further Reading: What is intrinsic value?

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Institutional Ownership by Quarter for Eidos Therapeutics (NASDAQ:EIDX)

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