Fulcrum Therapeutics (NASDAQ:FULC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Fulcrum Therapeutics (NASDAQ:FULC) from a sell rating to a hold rating in a research note released on Saturday.

A number of other analysts have also recently commented on FULC. Stifel Nicolaus set a $25.00 target price on Fulcrum Therapeutics in a research report on Monday, December 8th. Truist Financial lifted their price target on Fulcrum Therapeutics from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings reissued a “sell (d-)” rating on shares of Fulcrum Therapeutics in a report on Wednesday, October 8th. Piper Sandler restated an “overweight” rating and set a $23.00 target price (up from $16.00) on shares of Fulcrum Therapeutics in a research report on Monday, December 8th. Finally, Royal Bank Of Canada upped their price target on shares of Fulcrum Therapeutics from $7.00 to $10.00 and gave the company a “sector perform” rating in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $19.00.

Fulcrum Therapeutics Trading Down 0.6%

Shares of NASDAQ:FULC opened at $12.92 on Friday. The firm has a 50 day simple moving average of $9.86 and a 200-day simple moving average of $8.17. Fulcrum Therapeutics has a twelve month low of $2.32 and a twelve month high of $15.74. The company has a market capitalization of $699.20 million, a PE ratio of -10.95 and a beta of 3.17.

Fulcrum Therapeutics (NASDAQ:FULC) last announced its quarterly earnings results on Wednesday, October 29th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.02). As a group, equities research analysts predict that Fulcrum Therapeutics will post -0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert J. Gould sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $11.03, for a total transaction of $165,450.00. Following the sale, the director owned 484,864 shares of the company’s stock, valued at approximately $5,348,049.92. The trade was a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ra Capital Management, L.P. sold 4,175,139 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $13.98, for a total transaction of $58,368,443.22. Following the transaction, the insider owned 6,053,960 shares in the company, valued at $84,634,360.80. The trade was a 40.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 7.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fulcrum Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. raised its holdings in Fulcrum Therapeutics by 53.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 4,589,000 shares of the company’s stock worth $31,572,000 after purchasing an additional 1,589,000 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Fulcrum Therapeutics in the second quarter valued at $9,207,000. Exome Asset Management LLC increased its stake in shares of Fulcrum Therapeutics by 143.0% during the 1st quarter. Exome Asset Management LLC now owns 689,137 shares of the company’s stock worth $1,985,000 after purchasing an additional 405,538 shares in the last quarter. Invesco Ltd. increased its stake in shares of Fulcrum Therapeutics by 448.4% during the 2nd quarter. Invesco Ltd. now owns 470,333 shares of the company’s stock worth $3,236,000 after purchasing an additional 384,566 shares in the last quarter. Finally, Nantahala Capital Management LLC raised its position in shares of Fulcrum Therapeutics by 8.9% during the 3rd quarter. Nantahala Capital Management LLC now owns 4,670,784 shares of the company’s stock worth $42,971,000 after purchasing an additional 382,485 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

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.