Jennison Associates LLC Makes New $2.89 Million Investment in Fusion Pharmaceuticals Inc. (NASDAQ:FUSN)

Jennison Associates LLC acquired a new stake in shares of Fusion Pharmaceuticals Inc. (NASDAQ:FUSN) in the 4th quarter, HoldingsChannel reports. The fund acquired 301,020 shares of the company’s stock, valued at approximately $2,893,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. increased its holdings in Fusion Pharmaceuticals by 1.9% during the 4th quarter. Federated Hermes Inc. now owns 10,886,153 shares of the company’s stock valued at $104,616,000 after purchasing an additional 202,364 shares during the period. HealthInvest Partners AB purchased a new stake in Fusion Pharmaceuticals in the 4th quarter worth approximately $1,201,000. Avidity Partners Management LP grew its position in shares of Fusion Pharmaceuticals by 1.4% in the 3rd 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 last quarter. Yarbrough Capital LLC purchased a new position in shares of Fusion Pharmaceuticals during the fourth quarter valued at approximately $739,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of Fusion Pharmaceuticals during the fourth quarter valued at approximately $299,000. 72.85% of the stock is owned by institutional investors.

Fusion Pharmaceuticals Price Performance

Shares of NASDAQ FUSN opened at $21.42 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. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of -14.57 and a beta of -0.72. The company has a 50 day simple moving average of $17.05 and a two-hundred day simple moving average of $10.46. Fusion Pharmaceuticals Inc. has a fifty-two week low of $2.31 and a fifty-two week high of $21.55.

Fusion Pharmaceuticals (NASDAQ:FUSN) last issued its quarterly 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%. Analysts expect that Fusion Pharmaceuticals Inc. will post -1.46 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Jonestrading reaffirmed a “hold” rating on shares of Fusion Pharmaceuticals in a research note on Wednesday, March 20th. Oppenheimer lifted their target price on shares of Fusion Pharmaceuticals from $13.00 to $15.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Truist Financial reiterated a “hold” rating and set a $21.00 price target (up previously from $11.00) on shares of Fusion Pharmaceuticals in a research report on Tuesday, March 19th. William Blair lowered shares of Fusion Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 19th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $21.00 price objective (up from $10.00) on shares of Fusion Pharmaceuticals in a research report on Tuesday, March 19th. Thirteen analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average 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.