Fulcrum Therapeutics (NASDAQ:FULC) Stock Price Up 7.8% After Analyst Upgrade

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) shot up 7.8% on Tuesday 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 $13.63 and last traded at $14.0040. 1,213,935 shares traded hands during mid-day trading, an increase of 73% from the average session volume of 703,558 shares. The stock had previously closed at $12.99.

Several other equities research analysts have also recently weighed in on FULC. Cantor Fitzgerald upped their price target on Fulcrum Therapeutics from $15.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday. Leerink Partners set a $20.00 target price on shares of Fulcrum Therapeutics and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. HC Wainwright boosted their price target on shares of Fulcrum Therapeutics from $18.00 to $25.00 and gave the company a “buy” rating in a research report on Monday. Truist Financial set a $14.00 price objective on Fulcrum Therapeutics in a research report on Monday, November 24th. Finally, Wall Street Zen cut Fulcrum Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.14.

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 shares were 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 approximately $5,348,049.92. This trade represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Fulcrum Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Jump Financial LLC bought a new position in shares of Fulcrum Therapeutics in the 1st quarter worth approximately $30,000. Brooklyn Investment Group lifted its position in Fulcrum Therapeutics by 209.7% during the first quarter. Brooklyn Investment Group now owns 12,190 shares of the company’s stock valued at $35,000 after buying an additional 8,254 shares during the period. Quarry LP bought a new stake in shares of Fulcrum Therapeutics during the 3rd quarter valued at $35,000. Virtu Financial LLC purchased a new stake in shares of Fulcrum Therapeutics in the 1st quarter worth about $39,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Fulcrum Therapeutics by 4,209.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 9,308 shares of the company’s stock worth $64,000 after acquiring an additional 9,092 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Fulcrum Therapeutics Stock Performance

The business’s 50-day moving average is $9.45 and its 200-day moving average is $7.93. The company has a market capitalization of $757.14 million, a PE ratio of -11.93 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 for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.02). Analysts expect that Fulcrum Therapeutics, Inc. will post -0.16 EPS for the current 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.