Fractyl Health (NASDAQ:GUTS) Given New $8.00 Price Target at Canaccord Genuity Group

Fractyl Health (NASDAQ:GUTS) had its price objective lifted by Canaccord Genuity Group from $6.00 to $8.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Fractyl Health in a report on Wednesday, October 8th. LADENBURG THALM/SH SH began coverage on shares of Fractyl Health in a research note on Thursday, August 28th. They set a “buy” rating and a $3.60 price target on the stock. Finally, HC Wainwright dropped their price objective on shares of Fractyl Health from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, September 26th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.40.

Fractyl Health Stock Performance

Fractyl Health stock traded up $0.11 during mid-day trading on Friday, reaching $1.40. The company had a trading volume of 2,669,256 shares, compared to its average volume of 1,888,843. The company has a quick ratio of 4.27, a current ratio of 4.27 and a debt-to-equity ratio of 4.61. The firm has a market cap of $191.86 million, a price-to-earnings ratio of -0.61 and a beta of 2.20. The company has a 50 day moving average of $1.26 and a 200-day moving average of $1.46. Fractyl Health has a 52 week low of $0.83 and a 52 week high of $3.03.

Fractyl Health (NASDAQ:GUTS) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.01). On average, sell-side analysts expect that Fractyl Health will post -1.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Fractyl Health by 54.5% in the first quarter. Bank of New York Mellon Corp now owns 64,020 shares of the company’s stock worth $76,000 after purchasing an additional 22,572 shares in the last quarter. Nuveen LLC bought a new position in shares of Fractyl Health in the first quarter valued at about $87,000. Y Intercept Hong Kong Ltd acquired a new position in Fractyl Health during the 2nd quarter worth about $181,000. HighTower Advisors LLC grew its holdings in Fractyl Health by 57.9% during the 1st quarter. HighTower Advisors LLC now owns 40,921 shares of the company’s stock worth $49,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new stake in Fractyl Health in the 1st quarter valued at about $37,000.

About Fractyl Health

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.