Federated Hermes Inc. Acquires 202,364 Shares of Fusion Pharmaceuticals Inc. (NASDAQ:FUSN)

Federated Hermes Inc. lifted its holdings in Fusion Pharmaceuticals Inc. (NASDAQ:FUSN) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,886,153 shares of the company’s stock after acquiring an additional 202,364 shares during the period. Federated Hermes Inc. owned approximately 15.03% of Fusion Pharmaceuticals worth $104,616,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. HealthInvest Partners AB bought a new position in shares of Fusion Pharmaceuticals in the 4th quarter worth about $1,201,000. China Universal Asset Management Co. Ltd. bought a new stake in Fusion Pharmaceuticals in the 4th quarter valued at about $80,000. Raymond James Financial Services Advisors Inc. bought a new stake in Fusion Pharmaceuticals in the 4th quarter valued at about $299,000. Yarbrough Capital LLC bought a new stake in Fusion Pharmaceuticals in the 4th quarter valued at about $739,000. Finally, Avidity Partners Management LP increased its position in Fusion Pharmaceuticals by 1.4% in the 3rd quarter. Avidity Partners Management LP now owns 5,781,850 shares of the company’s stock valued at $15,033,000 after buying an additional 81,850 shares in the last quarter. 72.85% of the stock is owned by institutional investors.

Fusion Pharmaceuticals Stock Performance

Shares of NASDAQ FUSN opened at $21.25 on Friday. Fusion Pharmaceuticals Inc. has a twelve month low of $2.31 and a twelve month high of $21.55. The stock’s 50 day moving average price is $15.87 and its 200-day moving average price is $9.71. The company has a debt-to-equity ratio of 0.16, a quick ratio of 15.01 and a current ratio of 15.01.

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 analysts’ consensus estimates 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%. As a group, equities analysts predict that Fusion Pharmaceuticals Inc. will post -1.46 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on FUSN shares. Bloom Burton lowered Fusion Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $21.00 target price (up from $10.00) on shares of Fusion Pharmaceuticals in a research report on Tuesday, March 19th. Raymond James reiterated a “market perform” rating on shares of Fusion Pharmaceuticals in a research note on Tuesday, March 19th. TD Cowen reiterated a “hold” rating on shares of Fusion Pharmaceuticals in a research note on Tuesday. Finally, B. Riley downgraded Fusion Pharmaceuticals from a “buy” rating to a “neutral” rating and lifted their price target for the company from $13.00 to $23.00 in a research note on Wednesday, March 20th. Thirteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.25.

About Fusion Pharmaceuticals

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.