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

Jennison Associates LLC purchased a new stake in Fusion Pharmaceuticals Inc. (NASDAQ:FUSN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 301,020 shares of the company’s stock, valued at approximately $2,893,000. Jennison Associates LLC owned 0.42% of Fusion Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of FUSN. Federated Hermes Inc. lifted its position in shares of 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 acquiring an additional 202,364 shares during the period. HealthInvest Partners AB acquired a new position in shares of Fusion Pharmaceuticals during the fourth quarter valued at about $1,201,000. 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. Yarbrough Capital LLC acquired a new stake in shares of Fusion Pharmaceuticals in the 4th quarter valued at about $739,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Fusion Pharmaceuticals in the 4th quarter valued at about $299,000. 72.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $21.00 price objective (up previously from $16.00) on shares of Fusion Pharmaceuticals in a research note on Wednesday, March 20th. Bloom Burton downgraded shares of Fusion Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. TD Cowen reiterated a “hold” rating on shares of Fusion Pharmaceuticals in a report on Tuesday, April 16th. Oppenheimer boosted their target price on shares of Fusion Pharmaceuticals from $13.00 to $15.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Finally, Wedbush cut shares of Fusion Pharmaceuticals from an “outperform” rating to a “neutral” rating and set a $24.00 price target on the stock. in a research report on Tuesday, March 19th. Thirteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Fusion Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $20.25.

Fusion Pharmaceuticals Price Performance

Shares of NASDAQ FUSN opened at $21.42 on Friday. The company has a market capitalization of $1.82 billion, a PE ratio of -14.57 and a beta of -0.72. The company has a quick ratio of 15.01, a current ratio of 15.01 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average price is $17.05 and its 200-day moving average price is $10.46. Fusion Pharmaceuticals Inc. has a twelve month low of $2.31 and a twelve month high of $21.55.

Fusion Pharmaceuticals (NASDAQ:FUSN) last posted its quarterly earnings data 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 return on equity of 46.59% and a negative net margin of 4,136.55%. On average, equities analysts anticipate that Fusion Pharmaceuticals Inc. will post -1.46 EPS 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.