Credit Suisse Group Lowers Fulcrum Therapeutics (NASDAQ:FULC) to Neutral

Fulcrum Therapeutics (NASDAQ:FULC – Get Rating) was downgraded by analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research note issued on Friday, The Fly reports. They presently have a $8.00 price target on the stock, down from their prior price target of $11.00. Credit Suisse Group’s target price would indicate a potential upside of 77.38% from the stock’s current price.

Several other analysts have also recently issued reports on the company. Oppenheimer cut their target price on Fulcrum Therapeutics from $26.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday, February 27th. HC Wainwright restated a “buy” rating and issued a $20.00 price objective on shares of Fulcrum Therapeutics in a report on Tuesday, February 28th. Piper Sandler lifted their target price on shares of Fulcrum Therapeutics from $18.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, January 23rd. Stifel Nicolaus lowered shares of Fulcrum Therapeutics from a “buy” rating to a “hold” rating and lowered their target price for the company from $35.00 to $6.00 in a report on Thursday. Finally, Morgan Stanley lowered shares of Fulcrum Therapeutics from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $27.00 to $8.00 in a report on Monday, February 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $12.00.

Fulcrum Therapeutics Trading Down 6.4 %

Shares of NASDAQ:FULC opened at $4.51 on Friday. The stock’s 50-day moving average price is $10.75 and its 200-day moving average price is $8.31. Fulcrum Therapeutics has a 12-month low of $3.21 and a 12-month high of $24.79. The stock has a market capitalization of $234.75 million, a P/E ratio of -1.82 and a beta of 2.25.

Insider Buying and Selling

In other Fulcrum Therapeutics news, CEO Robert J. Gould sold 6,766 shares of Fulcrum Therapeutics stock in a transaction that occurred on Friday, January 13th. The shares were sold at an average price of $15.00, for a total value of $101,490.00. Following the completion of the sale, the chief executive officer now owns 499,864 shares of the company’s stock, valued at approximately $7,497,960. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Robert J. Gould sold 6,766 shares of the business’s stock in a transaction on Friday, January 13th. The shares were sold at an average price of $15.00, for a total transaction of $101,490.00. Following the completion of the sale, the chief executive officer now owns 499,864 shares of the company’s stock, valued at approximately $7,497,960. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Ra Capital Management, L.P. acquired 1,341,420 shares of the business’s stock in a transaction dated Friday, December 16th. The shares were acquired at an average cost of $5.42 per share, with a total value of $7,270,496.40. Following the transaction, the insider now owns 9,403,049 shares in the company, valued at $50,964,525.58. The disclosure for this purchase can be found here. Insiders bought a total of 4,372,675 shares of company stock worth $38,695,655 in the last three months. Insiders own 14.50% of the company’s stock.

Institutional Investors Weigh In On Fulcrum Therapeutics

A number of hedge funds have recently modified their holdings of FULC. RA Capital Management L.P. bought a new stake in shares of Fulcrum Therapeutics during the 3rd quarter valued at $56,630,000. Point72 Asset Management L.P. lifted its stake in shares of Fulcrum Therapeutics by 511.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,988,800 shares of the company’s stock valued at $9,745,000 after buying an additional 1,663,800 shares in the last quarter. VR Adviser LLC purchased a new position in shares of Fulcrum Therapeutics during the 3rd quarter valued at $9,708,000. Sofinnova Investments Inc. purchased a new position in shares of Fulcrum Therapeutics during the 3rd quarter valued at $6,450,000. Finally, Nantahala Capital Management LLC purchased a new position in shares of Fulcrum Therapeutics during the 4th quarter valued at $3,640,000.

About Fulcrum Therapeutics

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Fulcrum Therapeutics, Inc is a clinical stage biopharmaceutical company. The firm develops new medicines and focuses on unlocking gene control mechanisms to develop small molecule therapies. Its product candidate includes Losmapimod and FTX-HbF. The company was founded by Michael R. Green, Danny Reinberg, Rudolf Jaenisch, Jeannie T.