Signaturefd LLC Boosts Stock Position in Fusion Pharmaceuticals Inc. (NASDAQ:FUSN)

Signaturefd LLC increased its stake in shares of Fusion Pharmaceuticals Inc. (NASDAQ:FUSN) by 883.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,949 shares of the company’s stock after purchasing an additional 2,649 shares during the quarter. Signaturefd LLC’s holdings in Fusion Pharmaceuticals were worth $28,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. abrdn plc purchased a new stake in Fusion Pharmaceuticals during the 4th quarter worth about $209,000. Federated Hermes Inc. increased its position in Fusion Pharmaceuticals by 1.9% during the 4th quarter. Federated Hermes Inc. now owns 10,886,153 shares of the company’s stock worth $104,616,000 after purchasing an additional 202,364 shares in the last quarter. HealthInvest Partners AB purchased a new stake in Fusion Pharmaceuticals in the 4th quarter valued at about $1,201,000. China Universal Asset Management Co. Ltd. purchased a new stake in Fusion Pharmaceuticals in the 4th quarter valued at about $80,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Fusion Pharmaceuticals in the 4th quarter valued at about $299,000. Hedge funds and other institutional investors own 72.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on FUSN shares. B. Riley cut Fusion Pharmaceuticals from a “buy” rating to a “neutral” rating and lifted their price target for the company from $13.00 to $23.00 in a report on Wednesday, March 20th. Wedbush cut Fusion Pharmaceuticals from an “outperform” rating to a “neutral” rating and set a $24.00 price target for the company. in a report on Tuesday, March 19th. Bloom Burton cut Fusion Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. Leerink Partnrs cut Fusion Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $21.00 target price (up previously from $16.00) on shares of Fusion Pharmaceuticals in a report on Wednesday, March 20th. Thirteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.25.

Fusion Pharmaceuticals Stock Down 0.2 %

Shares of NASDAQ:FUSN opened at $21.45 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 15.01 and a current ratio of 15.01. Fusion Pharmaceuticals Inc. has a 1 year low of $2.31 and a 1 year high of $21.58. The stock has a market capitalization of $1.82 billion, a P/E ratio of -14.59 and a beta of -0.69. The stock has a 50-day simple moving average of $17.73 and a 200-day simple moving average of $10.95.

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

Fusion Pharmaceuticals Company Profile

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.