Fulcrum Therapeutics (NASDAQ:FULC) Stock Rating Lowered by Zacks Investment Research

Fulcrum Therapeutics (NASDAQ:FULCGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, Zacks.com reports.

According to Zacks, “Fulcrum Therapeutics Inc. is a clinical-stage biopharmaceutical company. It is focused on genetically defined diseases with an initial focus on rare diseases. Fulcrum Therapeutics Inc. is based in Cambridge, United States. “

Other equities analysts have also recently issued research reports about the stock. HC Wainwright began coverage on shares of Fulcrum Therapeutics in a research report on Friday, March 4th. They set a “buy” rating and a $40.00 target price on the stock. Credit Suisse Group raised their price target on shares of Fulcrum Therapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, March 25th. Oppenheimer assumed coverage on shares of Fulcrum Therapeutics in a research note on Monday, March 7th. They set an “outperform” rating and a $33.00 price target for the company. Bank of America upgraded shares of Fulcrum Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Thursday, March 3rd. Finally, Morgan Stanley raised their price target on shares of Fulcrum Therapeutics from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 12th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $31.72.

Fulcrum Therapeutics stock opened at $7.57 on Friday. Fulcrum Therapeutics has a 52 week low of $6.85 and a 52 week high of $33.10. The company’s 50 day moving average price is $15.38 and its two-hundred day moving average price is $15.28. The stock has a market cap of $307.62 million, a P/E ratio of -3.31 and a beta of 2.52.

Fulcrum Therapeutics (NASDAQ:FULCGet Rating) last posted its earnings results on Thursday, March 3rd. The company reported ($0.58) EPS for the quarter, topping the consensus estimate of ($0.65) by $0.07. Fulcrum Therapeutics had a negative net margin of 421.89% and a negative return on equity of 47.50%. The firm had revenue of $5.06 million for the quarter, compared to analysts’ expectations of $4.00 million. During the same quarter last year, the firm earned ($0.64) EPS. As a group, sell-side analysts expect that Fulcrum Therapeutics will post -2.53 EPS for the current fiscal year.

In other news, Director Robert J. Gould sold 34,464 shares of the business’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $24.03, for a total transaction of $828,169.92. Following the completion of the transaction, the director now directly owns 506,630 shares in the company, valued at approximately $12,174,318.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert J. Gould sold 7,235 shares of the business’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $24.02, for a total transaction of $173,784.70. Following the transaction, the director now owns 506,630 shares of the company’s stock, valued at $12,169,252.60. The disclosure for this sale can be found here. Insiders sold a total of 47,330 shares of company stock valued at $1,137,211 over the last quarter. 22.30% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Fulcrum Therapeutics by 0.9% during the 1st quarter. BlackRock Inc. now owns 2,228,610 shares of the company’s stock valued at $52,707,000 after purchasing an additional 20,532 shares in the last quarter. Rhumbline Advisers grew its position in shares of Fulcrum Therapeutics by 7.6% during the 1st quarter. Rhumbline Advisers now owns 34,115 shares of the company’s stock valued at $807,000 after purchasing an additional 2,408 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of Fulcrum Therapeutics by 57.0% during the 1st quarter. MetLife Investment Management LLC now owns 15,001 shares of the company’s stock valued at $355,000 after purchasing an additional 5,446 shares in the last quarter. Swiss National Bank grew its position in shares of Fulcrum Therapeutics by 11.0% during the 1st quarter. Swiss National Bank now owns 62,400 shares of the company’s stock valued at $1,476,000 after purchasing an additional 6,200 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new stake in shares of Fulcrum Therapeutics during the 1st quarter worth $278,000. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Fulcrum Therapeutics Company Profile (Get Rating)

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; and FTX-6058, an investigational oral fetal hemoglobin inducer for the treatment of sickle cell disease and other hemoglobinopathies, including beta-thalassemia.

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