Fulcrum Therapeutics (NASDAQ:FULC) Hits New 1-Year High Following Analyst Upgrade

Fulcrum Therapeutics, Inc. (NASDAQ:FULC)’s share price reached a new 52-week high during mid-day trading on Monday after Royal Bank Of Canada raised their price target on the stock from $7.00 to $10.00. Royal Bank Of Canada currently has a sector perform rating on the stock. Fulcrum Therapeutics traded as high as $14.60 and last traded at $13.8750, with a volume of 9169394 shares traded. The stock had previously closed at $8.90.

A number of other analysts have also recently commented on FULC. Leerink Partners set a $20.00 price target on shares of Fulcrum Therapeutics and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fulcrum Therapeutics in a research report on Wednesday, October 8th. Truist Financial set a $14.00 target price on shares of Fulcrum Therapeutics in a research report on Monday, November 24th. Cantor Fitzgerald increased their price objective on shares of Fulcrum Therapeutics from $15.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Wall Street Zen downgraded Fulcrum Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.33.

Insider Activity at Fulcrum Therapeutics

In other news, Director Robert J. Gould sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $11.03, for a total value of $165,450.00. Following the transaction, the director owned 484,864 shares in the company, valued at $5,348,049.92. This trade represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fulcrum Therapeutics

Hedge funds have recently bought and sold shares of the company. Suvretta Capital Management LLC lifted its position in shares of Fulcrum Therapeutics by 5.9% during the third quarter. Suvretta Capital Management LLC now owns 5,381,000 shares of the company’s stock valued at $49,505,000 after purchasing an additional 298,100 shares in the last quarter. Nantahala Capital Management LLC boosted its stake in shares of Fulcrum Therapeutics by 0.9% in the 1st quarter. Nantahala Capital Management LLC now owns 4,822,693 shares of the company’s stock worth $13,889,000 after buying an additional 42,985 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of Fulcrum Therapeutics by 53.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 4,589,000 shares of the company’s stock valued at $31,572,000 after acquiring an additional 1,589,000 shares in the last quarter. Balyasny Asset Management L.P. increased its position in shares of Fulcrum Therapeutics by 8.4% during the third quarter. Balyasny Asset Management L.P. now owns 1,450,480 shares of the company’s stock valued at $13,344,000 after acquiring an additional 112,266 shares during the last quarter. Finally, Exome Asset Management LLC increased its position in shares of Fulcrum Therapeutics by 143.0% during the first quarter. Exome Asset Management LLC now owns 689,137 shares of the company’s stock valued at $1,985,000 after acquiring an additional 405,538 shares during the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

Fulcrum Therapeutics Price Performance

The stock has a fifty day moving average of $9.37 and a 200 day moving average of $7.88. The firm has a market capitalization of $790.21 million, a P/E ratio of -11.90 and a beta of 3.17.

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

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.