Fractyl Health (NASDAQ:GUTS) Announces Earnings Results

Fractyl Health (NASDAQ:GUTS) announced its quarterly earnings data on Tuesday. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.13), reports.

Fractyl Health Trading Down 3.5%

Shares of Fractyl Health stock traded down $0.02 during mid-day trading on Tuesday, reaching $0.43. 1,352,642 shares of the stock were exchanged, compared to its average volume of 5,773,440. The company has a market cap of $58.98 million, a price-to-earnings ratio of -0.19 and a beta of 1.51. Fractyl Health has a fifty-two week low of $0.38 and a fifty-two week high of $3.03. The firm has a 50-day simple moving average of $0.83 and a 200 day simple moving average of $1.30.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC bought a new position in Fractyl Health in the 3rd quarter worth approximately $19,298,000. Marshall Wace LLP raised its position in shares of Fractyl Health by 234.9% during the fourth quarter. Marshall Wace LLP now owns 5,926,745 shares of the company’s stock worth $13,039,000 after acquiring an additional 4,156,969 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Fractyl Health during the third quarter valued at $8,981,000. Woodline Partners LP boosted its holdings in Fractyl Health by 821.1% in the third quarter. Woodline Partners LP now owns 5,506,534 shares of the company’s stock valued at $8,755,000 after acquiring an additional 4,908,693 shares during the last quarter. Finally, General Catalyst Group Management LLC acquired a new stake in Fractyl Health in the second quarter worth about $7,912,000.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Fractyl Health in a research note on Monday, December 29th. HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of Fractyl Health in a research report on Tuesday, December 2nd. Morgan Stanley cut shares of Fractyl Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $8.00 to $2.00 in a research note on Thursday, January 29th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $8.00 price objective on shares of Fractyl Health in a report on Friday, December 19th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.40.

About Fractyl Health

Fractyl Health, Inc is a clinical-stage medical technology company focused on the development and commercialization of minimally invasive, endoscopic therapies for metabolic diseases. Headquartered in Lexington, Massachusetts, Fractyl is advancing treatments that target the underlying physiology of conditions such as type 2 diabetes, obesity and nonalcoholic fatty liver disease (NAFLD) by modifying the duodenal mucosa to improve metabolic control.

The company’s lead product, Revita® Duodenal Mucosal Resurfacing (Revita DMR), employs a catheter-based hydrothermal ablation technique to remodel the lining of the upper small intestine.