Fulcrum Therapeutics (NASDAQ:FULC) Stock Rating Upgraded by Wall Street Zen

Fulcrum Therapeutics (NASDAQ:FULC) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Several other equities research analysts also recently issued reports on the company. Truist Financial lifted their price objective on Fulcrum Therapeutics from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday. Piper Sandler reissued an “overweight” rating and set a $23.00 price target (up previously from $16.00) on shares of Fulcrum Therapeutics in a research report on Monday, December 8th. Cantor Fitzgerald lifted their price target on shares of Fulcrum Therapeutics from $15.00 to $24.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. Stifel Nicolaus set a $25.00 price target on shares of Fulcrum Therapeutics in a report on Monday, December 8th. Finally, Citigroup reiterated an “underperform” rating on shares of Fulcrum Therapeutics in a research note on Monday, December 8th. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.00.

Fulcrum Therapeutics Price Performance

Shares of FULC stock opened at $13.00 on Friday. The company’s fifty day moving average price is $9.79 and its two-hundred day moving average price is $8.13. The firm has a market capitalization of $703.56 million, a P/E ratio of -11.02 and a beta of 3.17. Fulcrum Therapeutics has a 12 month low of $2.32 and a 12 month high of $15.74.

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 analysts’ consensus estimates of ($0.29) by ($0.02). On average, sell-side analysts anticipate that Fulcrum Therapeutics will post -0.16 EPS for the current year.

Insiders Place Their Bets

In other Fulcrum Therapeutics news, Director Robert J. Gould sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $11.03, for a total transaction of $165,450.00. Following the completion of the sale, the director owned 484,864 shares in the company, valued at $5,348,049.92. The trade was 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 at this link. Also, major shareholder Ra Capital Management, L.P. sold 4,175,139 shares of the stock in a transaction on 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 sale, the insider directly owned 6,053,960 shares in the company, valued at $84,634,360.80. This trade represents a 40.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On Fulcrum Therapeutics

A number of large investors have recently bought and sold shares of FULC. Invesco Ltd. boosted its stake in Fulcrum Therapeutics by 186.1% in the first quarter. Invesco Ltd. now owns 85,767 shares of the company’s stock valued at $247,000 after acquiring an additional 55,791 shares during the period. Virtu Financial LLC acquired a new stake in shares of Fulcrum Therapeutics during the 1st quarter worth approximately $39,000. Nuveen LLC bought a new stake in shares of Fulcrum Therapeutics in the 1st quarter worth approximately $441,000. American Century Companies Inc. boosted 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 valued at $356,000 after purchasing an additional 3,100 shares during the period. Finally, Algert Global LLC boosted its position in Fulcrum Therapeutics by 6.0% during the 1st quarter. Algert Global LLC now owns 36,147 shares of the company’s stock valued at $104,000 after purchasing an additional 2,030 shares during the period. Institutional investors own 89.83% of the company’s stock.

About Fulcrum Therapeutics

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.