Neo Ivy Capital Management Makes New $388,000 Investment in Amicus Therapeutics, Inc. $FOLD

Neo Ivy Capital Management purchased a new stake in Amicus Therapeutics, Inc. (NASDAQ:FOLD) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 49,264 shares of the biopharmaceutical company’s stock, valued at approximately $388,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Amicus Therapeutics by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 29,534,029 shares of the biopharmaceutical company’s stock valued at $232,728,000 after acquiring an additional 126,441 shares in the last quarter. William Blair Investment Management LLC raised its position in Amicus Therapeutics by 7.6% in the third quarter. William Blair Investment Management LLC now owns 15,749,240 shares of the biopharmaceutical company’s stock worth $124,104,000 after purchasing an additional 1,107,083 shares in the last quarter. Vestal Point Capital LP raised its position in Amicus Therapeutics by 178.4% in the second quarter. Vestal Point Capital LP now owns 11,900,000 shares of the biopharmaceutical company’s stock worth $68,187,000 after purchasing an additional 7,625,000 shares in the last quarter. State Street Corp lifted its stake in Amicus Therapeutics by 21.5% during the second quarter. State Street Corp now owns 11,568,097 shares of the biopharmaceutical company’s stock worth $66,285,000 after purchasing an additional 2,049,078 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Amicus Therapeutics by 20.7% during the second quarter. Bank of America Corp DE now owns 6,847,275 shares of the biopharmaceutical company’s stock valued at $39,235,000 after purchasing an additional 1,172,596 shares in the last quarter.

Insider Buying and Selling at Amicus Therapeutics

In related news, CEO Bradley L. Campbell sold 22,500 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $14.35, for a total transaction of $322,875.00. Following the transaction, the chief executive officer owned 998,680 shares in the company, valued at $14,331,058. This represents a 2.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Michael Clark sold 25,642 shares of the stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $14.17, for a total transaction of $363,347.14. Following the sale, the insider directly owned 245,690 shares in the company, valued at approximately $3,481,427.30. This represents a 9.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 226,711 shares of company stock worth $2,887,822 in the last 90 days. Company insiders own 2.20% of the company’s stock.

Amicus Therapeutics Stock Performance

NASDAQ:FOLD opened at $14.34 on Monday. Amicus Therapeutics, Inc. has a 1 year low of $5.51 and a 1 year high of $14.38. The firm has a 50 day moving average of $14.31 and a 200-day moving average of $10.96. The company has a current ratio of 2.84, a quick ratio of 1.88 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $4.50 billion, a P/E ratio of -179.25 and a beta of 0.43.

Amicus Therapeutics (NASDAQ:FOLD) last released its quarterly earnings results on Friday, February 20th. The biopharmaceutical company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). Amicus Therapeutics had a positive return on equity of 4.15% and a negative net margin of 4.27%.The business had revenue of $185.21 million for the quarter, compared to the consensus estimate of $185.00 million. During the same quarter last year, the company earned $0.09 earnings per share. The firm’s revenue was up 23.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Amicus Therapeutics, Inc. will post 0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FOLD has been the topic of several analyst reports. Zacks Research lowered Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Citigroup reaffirmed a “neutral” rating and issued a $14.50 price target (down from $17.00) on shares of Amicus Therapeutics in a research note on Monday, December 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amicus Therapeutics in a research report on Monday, December 29th. Guggenheim lowered Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $14.50 price objective (down from $16.00) on shares of Amicus Therapeutics in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Amicus Therapeutics currently has an average rating of “Hold” and an average price target of $15.39.

About Amicus Therapeutics

Amicus Therapeutics (NASDAQ:FOLD) is a biopharmaceutical company focused on the discovery, development and commercialization of treatments for rare and orphan diseases. The company specializes in pharmacological chaperones and gene therapy approaches designed to address the underlying causes of lysosomal storage disorders. Its proprietary technology platform integrates structure‐based drug design with precision medicine to identify small molecules that stabilize misfolded proteins and restore cellular function.

The company’s lead marketed product, Galafold (migalastat), is an oral pharmacological chaperone approved in the United States, European Union and other territories for the treatment of Fabry disease in patients with amenable genetic variants.