Principal Financial Group Inc. Purchases 243,519 Shares of Amicus Therapeutics, Inc. $FOLD

Principal Financial Group Inc. grew its position in shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) by 1,229.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 263,325 shares of the biopharmaceutical company’s stock after acquiring an additional 243,519 shares during the quarter. Principal Financial Group Inc.’s holdings in Amicus Therapeutics were worth $2,075,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of FOLD. Vestal Point Capital LP increased its stake in Amicus Therapeutics by 178.4% during the 2nd quarter. Vestal Point Capital LP now owns 11,900,000 shares of the biopharmaceutical company’s stock valued at $68,187,000 after purchasing an additional 7,625,000 shares in the last quarter. State Street Corp increased its position in shares of 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 acquiring an additional 2,049,078 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Amicus Therapeutics by 20.7% in the 2nd quarter. Bank of America Corp DE now owns 6,847,275 shares of the biopharmaceutical company’s stock worth $39,235,000 after acquiring an additional 1,172,596 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in Amicus Therapeutics by 223.9% in the 2nd quarter. Qube Research & Technologies Ltd now owns 3,466,911 shares of the biopharmaceutical company’s stock valued at $19,865,000 after acquiring an additional 2,396,410 shares in the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in Amicus Therapeutics by 24.4% during the 3rd quarter. Rice Hall James & Associates LLC now owns 3,434,717 shares of the biopharmaceutical company’s stock valued at $27,066,000 after purchasing an additional 674,403 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FOLD. Jefferies Financial Group reissued a “hold” rating and issued a $14.50 price objective (down from $16.00) on shares of Amicus Therapeutics in a research note on Thursday, January 22nd. Leerink Partners cut Amicus Therapeutics from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $17.00 to $14.50 in a research note on Monday, December 29th. The Goldman Sachs Group lifted their price objective on shares of Amicus Therapeutics from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. increased 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. Finally, Cantor Fitzgerald lowered shares of Amicus Therapeutics from an “overweight” rating to a “hold” rating and dropped their price target for the company from $21.00 to $14.50 in a research report on Friday, December 19th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.55.

Amicus Therapeutics Stock Performance

NASDAQ FOLD opened at $14.30 on Wednesday. The company has a market capitalization of $4.49 billion, a PE ratio of -357.41 and a beta of 0.38. The company has a debt-to-equity ratio of 1.70, a quick ratio of 2.09 and a current ratio of 2.99. Amicus Therapeutics, Inc. has a 52-week low of $5.51 and a 52-week high of $14.38. The company has a 50-day simple moving average of $13.76 and a 200 day simple moving average of $10.29.

Insider Activity at Amicus Therapeutics

In other news, insider Jeff Castelli sold 76,158 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $10.16, for a total transaction of $773,765.28. Following the completion of the transaction, the insider owned 439,318 shares in the company, valued at approximately $4,463,470.88. This represents a 14.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David Michael Clark sold 25,642 shares of Amicus Therapeutics stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $14.17, for a total value of $363,347.14. Following the completion of the sale, the insider directly owned 245,690 shares of the company’s stock, valued at approximately $3,481,427.30. This trade represents a 9.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 394,807 shares of company stock worth $4,486,385. Company insiders own 2.20% of the company’s stock.

Amicus Therapeutics Company Profile

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.