Adage Capital Partners GP L.L.C. Boosts Holdings in Fulcrum Therapeutics, Inc. (NASDAQ:FULC)

Adage Capital Partners GP L.L.C. lifted its stake in Fulcrum Therapeutics, Inc. (NASDAQ:FULC) by 50.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,000,000 shares of the company’s stock after buying an additional 1,000,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.06% of Fulcrum Therapeutics worth $14,100,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp grew its position in shares of Fulcrum Therapeutics by 2.3% in the 4th quarter. Bank of New York Mellon Corp now owns 141,873 shares of the company’s stock valued at $667,000 after buying an additional 3,126 shares during the last quarter. American Century Companies Inc. grew its position in shares of Fulcrum Therapeutics by 5.9% in the 4th quarter. American Century Companies Inc. now owns 120,611 shares of the company’s stock valued at $567,000 after buying an additional 6,770 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Fulcrum Therapeutics by 34.4% in the 4th quarter. Wells Fargo & Company MN now owns 34,264 shares of the company’s stock valued at $161,000 after buying an additional 8,761 shares during the last quarter. Intech Investment Management LLC grew its position in shares of Fulcrum Therapeutics by 74.9% in the 4th quarter. Intech Investment Management LLC now owns 30,499 shares of the company’s stock valued at $143,000 after buying an additional 13,057 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Fulcrum Therapeutics by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,320,862 shares of the company’s stock valued at $4,716,000 after buying an additional 13,485 shares during the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “neutral” rating and issued a $4.00 target price on shares of Fulcrum Therapeutics in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Fulcrum Therapeutics has an average rating of “Hold” and an average price target of $8.63.

Fulcrum Therapeutics Price Performance

Shares of NASDAQ:FULC opened at $3.53 on Monday. The stock has a market cap of $190.55 million, a P/E ratio of -11.39 and a beta of 2.13. The firm has a fifty day moving average price of $3.14 and a 200 day moving average price of $3.61. Fulcrum Therapeutics, Inc. has a 1-year low of $2.32 and a 1-year high of $10.13.

Fulcrum Therapeutics (NASDAQ:FULC) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.03). Sell-side analysts expect 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.