Federated Global Investment Manag recently announced the acquisition of new stake in Fusion Pharmaceuticals Inc. (NASDAQ:FUSN). The institutional investor has increased its shareholding in the Healthcare company by 0.64% to 3.12 million shares with purchase of 20000.0 shares. This fresh investment now brings its stake to 6.98% valued currently at $9.84 million. In addition, RA Capital Management LP raised its holdings by 0.66 million to 0.66 million shares. And Morgan Stanley Smith Barney LLC has lifted its position by 23.59% or 13875.0 shares – to 72696.0 shares.
With over 0.12 million Fusion Pharmaceuticals Inc. (FUSN) shares trading Monday and a closing price of $3.03 on the day, the dollar volume was approximately $0.37 million. The shares have shown a positive half year performance of 26.25% and its price on 01/23/23 lost nearly -10.36%. Currently, there are 43.68M common shares owned by the public and among those 38.83M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for FUSN have a consensus price objective of $12.63. The analysts have set the share’s price value over the next 12 months at a high of $19.00 and a low of $6.00. The average price target is 75.99% above its recent price level and an upside to the estimated low will see the stock gain 49.5% over that period. But an upside of 84.05% will see the stock hit the forecast high price target while median target price for the stock is $11.00.
Insiders at the company have transacted a total of 123 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 3 of these insider trades were purchases, accounting for 128,586 shares. Insider sales of the common stock occurred on 120 occasions, with total insider shares sold totaling 592,348 shares.
The top 3 mutual fund holders in Fusion Pharmaceuticals Inc. are Canada Pension Plan, Federated Hermes Kaufmann Small C, and Fidelity Advisor Series VII – Bio. Canada Pension Plan owns 3.12 million shares of the company’s stock, all valued at over $9.82 million. The company sold 245.0 shares recently to bring their total holdings to about 6.96% of the shares outstanding. Fidelity Advisor Series VII – Bio now owns shares totaling to 3.45% of the shares outstanding.
Shares of Fusion Pharmaceuticals Inc. (NASDAQ: FUSN) opened at $3.32, down -$0.06 from a prior closing price of $3.38. However, the script later moved the day high at 3.3200, down -10.36%. The company’s stock has a 5-day price change of -22.31% and 26.51% over the past three months. FUSN shares are trading -3.81% year to date (YTD), with the 12-month market performance down to -62.91% lower. It has a 12-month low price of $1.98 and touched a high of $8.65 over the same period. FUSN has an average intraday trading volume of 54.58K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -12.92%, 8.28%, and -4.92% respectively.
Institutional ownership of Fusion Pharmaceuticals Inc. (NASDAQ: FUSN) shares accounts for 59.60% of the company’s 43.68M shares outstanding. Mutual fund holders own 20.54%, while other institutional holders and individual stakeholders account for 7.27% and 15.44% respectively.
It has a market capitalization of $143.26M. The earnings-per-share (ttm) stands at -$1.85. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.02% over the week and 10.35% over the month.
Analysts forecast that Fusion Pharmaceuticals Inc. (FUSN) will achieve an EPS of -$0.5 for the current quarter, -$0.51 for the next quarter and -$1.81 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.53 while analysts give the company a high EPS estimate of -$0.48. Comparatively, EPS for the current quarter was -$0.45 a year ago. Earnings per share for the fiscal year are expected to increase by 0.40%, and 5.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate Fusion Pharmaceuticals Inc. (FUSN) as a “Strong Buy” at a consensus score of 1.60. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 0 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the FUSN, a number of firms have released research notes about the stock. B. Riley Securities stated their Buy rating for the stock in a research note on December 01, 2022, with the firm’s price target at $10. SVB Leerink coverage for the Fusion Pharmaceuticals Inc. (FUSN) stock in a research note released on November 30, 2022 offered a Outperform rating with a price target of $6. Morgan Stanley on their part issued Overweight rating on October 19, 2021.
