Is Amicus Therapeutics, Inc. (NASDAQ:FOLD) a good investment?
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Keeping this in mind, it’s important to examine the newest info for Amicus Therapeutics, Inc. (NASDAQ:FOLD).
How are hedge funds trading Amicus Therapeutics, Inc. (NASDAQ:FOLD)?
In preparation for the third quarter, a total of 13 of the hedge funds we track were long in this stock, a change of 8% from one quarter earlier. With hedgies’ sentiment swirling, there exists an “upper tier” of key hedge fund managers who were boosting their stakes significantly.
According to our 13F database, William Leland Edwards’s Palo Alto Investors had the largest position in Amicus Therapeutics, Inc. (NASDAQ:FOLD), worth close to $10.8 million, comprising 1.3% of its total 13F portfolio. Coming in second is Redmile Group, managed by Jeremy Green, which held a $5.5 million position; the fund has 1% of its 13F portfolio invested in the stock. Other hedgies that are bullish include Chuck Royce’s Royce & Associates, Anthony Giammalva’s Sound Energy Partners and Julian Baker and Felix Baker’s Baker Bros. Advisors.
As one would understandably expect, certain bigger names have been driving this bullishness. Palo Alto Investors, managed by William Leland Edwards, initiated the biggest position in Amicus Therapeutics, Inc. (NASDAQ:FOLD). Palo Alto Investors had 10.8 million invested in the company at the end of the quarter. Jeremy Green’s Redmile Group also made a $5.5 million investment in the stock during the quarter. The following funds were also among the new FOLD investors: Chuck Royce’s Royce & Associates, Anthony Giammalva’s Sound Energy Partners, and Julian Baker and Felix Baker’s Baker Bros. Advisors.
What do corporate executives and insiders think about Amicus Therapeutics, Inc. (NASDAQ:FOLD)?
Legal insider trading, particularly when it’s bullish, is most useful when the company in question has experienced transactions within the past 180 days. Over the last half-year time period, Amicus Therapeutics, Inc. (NASDAQ:FOLD) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll also review the relationship between both of these indicators in other stocks similar to Amicus Therapeutics, Inc. (NASDAQ:FOLD). These stocks are Cytokinetics, Inc. (NASDAQ:CYTK), ArQule, Inc. (NASDAQ:ARQL), ZIOPHARM Oncology Inc. (NASDAQ:ZIOP), Pain Therapeutics, Inc. (NASDAQ:PTIE), and BioDelivery Sciences International, Inc. (NASDAQ:BDSI). This group of stocks are in the biotechnology industry and their market caps are closest to FOLD’s market cap.