SVB Securities Lowers Fulcrum Therapeutics (NASDAQ:FULC) Price Target to $10.00

Fulcrum Therapeutics (NASDAQ:FULC – Get Rating) had its target price lowered by investment analysts at SVB Securities from $18.00 to $10.00 in a report issued on Friday, The Fly reports. SVB Securities’ price target points to a potential upside of 121.73% from the company’s current price.

FULC has been the subject of a number of other research reports. Piper Sandler boosted their target price on Fulcrum Therapeutics from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, January 23rd. Morgan Stanley cut Fulcrum Therapeutics from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $27.00 to $8.00 in a report on Monday, February 27th. Bank of America cut Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating in a report on Friday, February 24th. Stifel Nicolaus cut Fulcrum Therapeutics from a “buy” rating to a “hold” rating and decreased their price target for the stock from $35.00 to $6.00 in a report on Thursday. Finally, The Goldman Sachs Group upped their price target on Fulcrum Therapeutics from $11.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, January 19th. One investment 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’s stock. According to data from MarketBeat, Fulcrum Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $12.00.

Fulcrum Therapeutics Stock Performance

Shares of NASDAQ:FULC opened at $4.51 on Friday. Fulcrum Therapeutics has a 1 year low of $3.21 and a 1 year 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. The stock has a 50-day simple moving average of $10.75 and a 200-day simple moving average of $8.31.

Insider Buying and Selling at Fulcrum Therapeutics

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

Institutional Investors Weigh In On Fulcrum Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in FULC. RA Capital Management L.P. acquired a new stake in shares of Fulcrum Therapeutics during the 3rd quarter valued at approximately $56,630,000. Point72 Asset Management L.P. raised its position 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 acquiring an additional 1,663,800 shares in the last quarter. VR Adviser LLC bought a new position in Fulcrum Therapeutics during the 3rd quarter worth $9,708,000. Sofinnova Investments Inc. bought a new position in Fulcrum Therapeutics during the 3rd quarter worth $6,450,000. Finally, Nantahala Capital Management LLC bought a new position in Fulcrum Therapeutics during the 4th quarter worth $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.