In a recent filing with the Securities and Exchange Commission, it was revealed that Citigroup Inc. significantly boosted its holdings in Voyager Therapeutics, Inc. (VYGR:NSD) during the fourth quarter. This move by Citigroup highlights the growing interest in VYGR stock among institutional investors. In this blog post, we will explore the implications of this investment and provide an overview of Voyager Therapeutics’ recent performance.
Citigroup’s Stake in Voyager Therapeutics:
According to the filing, Citigroup Inc. increased its holdings in Voyager Therapeutics by a substantial 2,458.9% during the fourth quarter. The financial institution now owns 84,033 shares of the VYGR stock, representing approximately 0.22% of Voyager Therapeutics’ total shares. The value of Citigroup’s stake is estimated to be around $513,000, indicating their confidence in the company’s future prospects.
Other Institutional Investors:
Citigroup Inc. is not the only institutional investor showing interest in Voyager Therapeutics. Armistice Capital LLC, for instance, increased its stake in the company by 32.4% during the third quarter, now owning 3,396,000 shares valued at $20,104,000. Additionally, several other hedge funds and institutional investors have recently modified their holdings in Voyager Therapeutics, collectively accounting for 59.58% of the VYGR stock.
VYGR Stock Performance:
On Monday, VYGR shares opened at $11.36. VYGR stock has seen a 52-week low of $4.61 and a 52-week high of $14.34, indicating some volatility within the market. Currently, Voyager Therapeutics has a market capitalization of $494.61 million. The stock’s market performance reflects the broader trends in the biotechnology sector and market conditions, which investors should consider when evaluating their investment strategies.
Quarterly Earnings and Analyst Forecasts:
During the last quarterly earnings report on March 7th, Voyager Therapeutics announced earnings per share (EPS) of ($0.61), missing the consensus estimate of ($0.57) by ($0.04). The company reported negative net margin figures of 24.21% but showcased a positive return on equity of 95.18%. Despite these results, equities research analysts expect Voyager Therapeutics to post 1.01 EPS for the current fiscal year. Wall Street analysts have also issued favorable reports, with Oppenheimer giving the stock an “outperform” rating and a $14.00 price target.
Insider Trading Activity:
There have been notable instances of insider trading within Voyager Therapeutics. CEO Alfred Sandrock sold 7,437 shares of the VYGR stock, while VP Robert W. Hesslein sold 4,410 shares. These transactions were disclosed in filings with the SEC, indicating the movement of company insiders’ positions. It’s worth noting that insiders currently own 22.00% of the company’s stock, which can impact investor sentiment and potential future developments.
Conclusion:
Citigroup Inc.’s significant increase in holdings demonstrates growing institutional interest in Voyager Therapeutics. The investment by Citigroup, along with other institutional players, highlights the company’s potential and may provide increased stability and market confidence. While Voyager Therapeutics’ stock has seen some volatility, Wall Street analysts maintain a positive outlook for the company. Investors should carefully consider these factors, along with their own investment goals and risk tolerance, before making any decisions regarding Voyager Therapeutics.
