Raymond James Financial Services Advisors Inc. Makes New Investment in Fusion Pharmaceuticals Inc. (NASDAQ:FUSN)

Raymond James Financial Services Advisors Inc. bought a new position in Fusion Pharmaceuticals Inc. (NASDAQ:FUSN) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 31,145 shares of the company’s stock, valued at approximately $299,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Federated Hermes Inc. increased its position in Fusion Pharmaceuticals by 0.5% in the third quarter. Federated Hermes Inc. now owns 10,683,789 shares of the company’s stock worth $27,778,000 after buying an additional 50,000 shares during the period. Avidity Partners Management LP increased its position in Fusion Pharmaceuticals by 1.4% in the third quarter. Avidity Partners Management LP now owns 5,781,850 shares of the company’s stock worth $15,033,000 after buying an additional 81,850 shares during the period. Yarbrough Capital LLC bought a new position in shares of Fusion Pharmaceuticals in the fourth quarter worth $739,000. Finally, Forefront Analytics LLC grew its stake in shares of Fusion Pharmaceuticals by 67.8% in the third quarter. Forefront Analytics LLC now owns 33,685 shares of the company’s stock worth $88,000 after purchasing an additional 13,610 shares in the last quarter. 72.85% of the stock is owned by institutional investors and hedge funds.

Fusion Pharmaceuticals Trading Up 0.3 %

Shares of FUSN stock opened at $21.32 on Tuesday. The stock has a 50-day simple moving average of $16.26 and a 200 day simple moving average of $10.06. Fusion Pharmaceuticals Inc. has a fifty-two week low of $2.31 and a fifty-two week high of $21.55. The stock has a market capitalization of $1.81 billion, a P/E ratio of -14.50 and a beta of -0.72. The company has a quick ratio of 15.01, a current ratio of 15.01 and a debt-to-equity ratio of 0.16.

Fusion Pharmaceuticals (NASDAQ:FUSN) last released its quarterly earnings results on Wednesday, March 20th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.05). Fusion Pharmaceuticals had a negative net margin of 4,136.55% and a negative return on equity of 46.59%. On average, sell-side analysts expect that Fusion Pharmaceuticals Inc. will post -1.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on FUSN shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $21.00 price target (up previously from $16.00) on shares of Fusion Pharmaceuticals in a research note on Wednesday, March 20th. Raymond James reissued a “market perform” rating on shares of Fusion Pharmaceuticals in a research note on Tuesday, March 19th. Jefferies Financial Group reissued a “hold” rating and issued a $21.00 price target (up previously from $10.00) on shares of Fusion Pharmaceuticals in a research note on Tuesday, March 19th. Leerink Partnrs cut Fusion Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 19th. Finally, Brookline Capital Management cut Fusion Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Thirteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.25.

About Fusion Pharmaceuticals

Fusion Pharmaceuticals Inc, a clinical-stage oncology company, focuses on developing radiopharmaceuticals as precision medicines in Canada and the United States. The company's lead product candidates include FPI-2265 that is in Phase 2 clinical trial to treat prostate-specific membrane antigens; and FPI-1434 that is in Phase 1 clinical trial as a monotherapy in patients with solid tumors expressing that target insulin-like growth factor 1 receptor.