Fulcrum Therapeutics (NASDAQ:FULC) Stock Price Up 7.4% – Here’s What Happened

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) shot up 7.4% during mid-day trading on Monday . The stock traded as high as $9.27 and last traded at $9.29. 79,757 shares changed hands during trading, a decline of 86% from the average session volume of 572,227 shares. The stock had previously closed at $8.65.

Analysts Set New Price Targets

FULC has been the topic of several analyst reports. HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of Fulcrum Therapeutics in a research report on Monday, October 20th. Wall Street Zen lowered Fulcrum Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Fulcrum Therapeutics in a research note on Wednesday, October 8th. Piper Sandler restated an “overweight” rating and set a $16.00 price objective (up from $12.50) on shares of Fulcrum Therapeutics in a research note on Thursday, October 30th. Finally, Royal Bank Of Canada upped their price objective on shares of Fulcrum Therapeutics from $5.00 to $7.00 and gave the stock a “sector perform” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Fulcrum Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $13.00.

Fulcrum Therapeutics Stock Performance

The stock has a market capitalization of $608.80 million, a P/E ratio of -9.32 and a beta of 3.02. The business has a 50 day simple moving average of $8.61 and a 200-day simple moving average of $7.47.

Fulcrum Therapeutics (NASDAQ:FULC) last posted its quarterly earnings data on Wednesday, October 29th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.02). Equities research analysts forecast that Fulcrum Therapeutics, Inc. will post -0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Fulcrum Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Algert Global LLC increased its position in shares of Fulcrum Therapeutics by 6.0% in the first quarter. Algert Global LLC now owns 36,147 shares of the company’s stock worth $104,000 after acquiring an additional 2,030 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Fulcrum Therapeutics by 26.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,943 shares of the company’s stock valued at $89,000 after acquiring an additional 2,677 shares in the last quarter. Strs Ohio boosted its stake in Fulcrum Therapeutics by 3.7% in the 3rd quarter. Strs Ohio now owns 77,900 shares of the company’s stock worth $717,000 after purchasing an additional 2,800 shares during the period. American Century Companies Inc. grew its position in Fulcrum Therapeutics by 2.6% during the 1st quarter. American Century Companies Inc. now owns 123,711 shares of the company’s stock worth $356,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in Fulcrum Therapeutics by 108.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 7,112 shares of the company’s stock worth $65,000 after purchasing an additional 3,697 shares in the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Fulcrum Therapeutics Company Profile

Fulcrum Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing products for improving the lives of patients with genetically defined diseases in the areas of high unmet medical need in the United States. Its product candidates are losmapimod, a small molecule for the treatment of facioscapulohumeral muscular dystrophy is under phase III clinical trial; and pociredir, a fetal hemoglobin inducer for the treatment of sickle cell disease and beta-thalassemia is under phase I clinical trial.