Fractyl Health, Inc. (NASDAQ:GUTS) Stock Short Interest Falls 87.7%

Fractyl Health, Inc. (NASDAQ:GUTS) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 265,311 shares, a drop of 87.7% from the September 30th total of 2,150,590 shares. Based on an average daily volume of 218,634 shares, the days-to-cover ratio is currently 1.2 days. Approximately 2.2% of the shares of the company are short sold.

Analyst Ratings Changes

A number of research firms have commented on GUTS. Morgan Stanley decreased their price objective on shares of Fractyl Health to $4.00 and set an “equal weight” rating for the company in a report on Monday, October 19th. Weiss Ratings cut shares of Fractyl Health from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, September 3rd. Wall Street Zen downgraded shares of Fractyl Health from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Craig Hallum set a $5.00 price target on shares of Fractyl Health in a report on Monday, October 19th. Three 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 data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $50.25.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC lifted its stake in shares of Fractyl Health by 84.3% in the 2nd quarter. FNY Investment Advisers LLC now owns 65,420 shares of the company’s stock worth $51,000 after acquiring an additional 29,920 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Fractyl Health in the second quarter valued at approximately $26,000. Accredited Investors Inc. acquired a new position in shares of Fractyl Health during the first quarter valued at approximately $46,000. PEAK6 LLC acquired a new position in shares of Fractyl Health during the second quarter valued at approximately $159,000. Finally, BlackRock Inc. bought a new stake in Fractyl Health during the second quarter worth approximately $1,431,000.

Fractyl Health Stock Performance

Shares of NASDAQ:GUTS traded down $0.20 during trading on Tuesday, hitting $0.87. 798,444 shares of the company traded hands, compared to its average volume of 338,117. The stock has a market capitalization of $11.56 million, a price-to-earnings ratio of -0.08 and a beta of 2.42. The business’s fifty day moving average is $6.18 and its 200-day moving average is $8.62. Fractyl Health has a one year low of $0.87 and a one year high of $29.34. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 1.41.

Fractyl Health (NASDAQ:GUTS) last announced its quarterly earnings results on Monday, August 10th. The company reported ($1.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.62) by $0.18. As a group, equities analysts predict that Fractyl Health will post -6.32 earnings per share for the current fiscal year.

Fractyl Health Company Profile

Fractyl Health, Inc is a biotechnology company focused on developing therapies for metabolic diseases, including obesity and type 2 diabetes. The company aims to create treatments that address the underlying biology of these conditions and provide longer-lasting alternatives to frequently administered medicines.

Fractyl Health’s technology platforms include Revita, an endoscopic procedure designed to modify the lining of the duodenum and potentially improve metabolic function, and a gene therapy platform intended to enable the body to produce therapeutic levels of metabolic hormones such as glucagon-like peptide-1 (GLP-1).