Short Interest in Fractyl Health, Inc. (NASDAQ:GUTS) Increases By 22.6%

Fractyl Health, Inc. (NASDAQ:GUTS) was the recipient of a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 14,901,084 shares, a growth of 22.6% from the January 15th total of 12,151,106 shares. Approximately 14.7% of the company’s stock are short sold. Based on an average daily trading volume, of 16,179,042 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily trading volume, of 16,179,042 shares, the days-to-cover ratio is presently 0.9 days. Approximately 14.7% of the company’s stock are short sold.

Fractyl Health Stock Up 1.9%

NASDAQ:GUTS opened at $0.42 on Tuesday. The stock has a market cap of $57.34 million, a price-to-earnings ratio of -0.18 and a beta of 1.67. The company’s 50 day moving average price is $1.69 and its 200-day moving average price is $1.40. Fractyl Health has a 52 week low of $0.38 and a 52 week high of $3.03.

Institutional Trading of Fractyl Health

Institutional investors and hedge funds have recently modified their holdings of the business. Woodline Partners LP raised its stake in shares of Fractyl Health by 47.2% in the first quarter. Woodline Partners LP now owns 516,921 shares of the company’s stock worth $615,000 after purchasing an additional 165,786 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Fractyl Health in the 2nd quarter worth about $181,000. Catalyst Funds Management Pty Ltd purchased a new position in Fractyl Health in the 2nd quarter worth about $26,000. Qube Research & Technologies Ltd bought a new position in Fractyl Health during the 2nd quarter valued at about $129,000. Finally, General Catalyst Group Management LLC bought a new position in Fractyl Health during the 2nd quarter valued at about $7,912,000.

Analysts Set New Price Targets

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

Fractyl Health Company Profile

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.