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

Raymond James Financial Services Advisors Inc. acquired a new stake in Fusion Pharmaceuticals Inc. (NASDAQ:FUSN) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 31,145 shares of the company’s stock, valued at approximately $299,000.

Other institutional investors also recently made changes to their positions in the company. Forefront Analytics LLC boosted its position in shares of Fusion Pharmaceuticals by 67.8% during the 3rd 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. Yarbrough Capital LLC purchased a new stake in shares of Fusion Pharmaceuticals during the 4th quarter worth $739,000. Avidity Partners Management LP boosted its position in shares of Fusion Pharmaceuticals by 1.4% during the 3rd quarter. Avidity Partners Management LP now owns 5,781,850 shares of the company’s stock worth $15,033,000 after purchasing an additional 81,850 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Fusion Pharmaceuticals by 0.5% during the 3rd quarter. Federated Hermes Inc. now owns 10,683,789 shares of the company’s stock worth $27,778,000 after purchasing an additional 50,000 shares in the last quarter. 72.85% of the stock is currently owned by hedge funds and other institutional investors.

Fusion Pharmaceuticals Trading Up 0.3 %

Shares of FUSN stock opened at $21.32 on Tuesday. The firm has a 50-day moving average price of $16.26 and a 200 day moving average price of $10.06. Fusion Pharmaceuticals Inc. has a twelve month low of $2.31 and a twelve month high of $21.55. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -14.50 and a beta of -0.72. The company has a current ratio of 15.01, a quick ratio of 15.01 and a debt-to-equity ratio of 0.16.

Fusion Pharmaceuticals (NASDAQ:FUSN) last announced its earnings results on Wednesday, March 20th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate 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%. Research analysts forecast that Fusion Pharmaceuticals Inc. will post -1.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on FUSN shares. William Blair lowered shares of Fusion Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 19th. B. Riley downgraded Fusion Pharmaceuticals from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $13.00 to $23.00 in a research note on Wednesday, March 20th. Leerink Partnrs downgraded Fusion Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 19th. Wedbush downgraded Fusion Pharmaceuticals from an “outperform” rating to a “neutral” rating and set a $24.00 price target for the company. in a research note on Tuesday, March 19th. Finally, Jonestrading reaffirmed a “hold” rating on shares of Fusion Pharmaceuticals in a research note on Wednesday, March 20th. Thirteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fusion Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $20.25.

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.