Canaccord Genuity Group Initiates Coverage on Fractyl Health (NASDAQ:GUTS)

Canaccord Genuity Group began coverage on shares of Fractyl Health (NASDAQ:GUTS) in a note issued to investors on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $12.00 price target on the stock.

Separately, Morgan Stanley reduced their price objective on shares of Fractyl Health from $18.00 to $10.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd.

Fractyl Health Price Performance

Fractyl Health stock opened at $0.99 on Tuesday. The company has a current ratio of 5.58, a quick ratio of 5.57 and a debt-to-equity ratio of 0.60. The business’s 50 day simple moving average is $1.32 and its 200 day simple moving average is $1.90. Fractyl Health has a 12 month low of $0.87 and a 12 month high of $7.89. The company has a market cap of $48.66 million, a price-to-earnings ratio of -0.08 and a beta of 0.30.

Fractyl Health (NASDAQ:GUTS) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.08). Sell-side analysts forecast that Fractyl Health will post -1.61 EPS for the current year.

Insider Activity

In other Fractyl Health news, insider Jay David Caplan sold 22,346 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $1.81, for a total value of $40,446.26. Following the completion of the sale, the insider now owns 153,544 shares of the company’s stock, valued at $277,914.64. This represents a 12.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Harith Rajagopalan sold 90,972 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $1.82, for a total transaction of $165,569.04. Following the completion of the sale, the chief executive officer now owns 491,329 shares of the company’s stock, valued at approximately $894,218.78. The trade was a 15.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in Fractyl Health by 166.5% during the 3rd quarter. Geode Capital Management LLC now owns 501,476 shares of the company’s stock valued at $1,269,000 after buying an additional 313,335 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Fractyl Health by 54.1% in the third quarter. BNP Paribas Financial Markets now owns 21,072 shares of the company’s stock worth $53,000 after purchasing an additional 7,397 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Fractyl Health by 56.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 80,664 shares of the company’s stock valued at $204,000 after purchasing an additional 29,262 shares during the last quarter. Rhumbline Advisers grew its position in shares of Fractyl Health by 73.1% in the 4th quarter. Rhumbline Advisers now owns 25,626 shares of the company’s stock worth $53,000 after buying an additional 10,826 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Fractyl Health during the fourth quarter valued at approximately $206,000.

Fractyl Health Company Profile

Fractyl Health, Inc, a metabolic therapeutics company, develops therapies for the treatment of type 2 diabetes (T2D) and obesity. The company develops Revita DMR System (Revita), an outpatient procedural therapy designed to durably modify duodenal dysfunction, a pathologic consequence of a high fat and high sugar diet, which can initiate T2D and obesity in humans.