abrdn plc Makes New $1.73 Million Investment in Fulcrum Therapeutics, Inc. (NASDAQ:FULC)

abrdn plc purchased a new position in Fulcrum Therapeutics, Inc. (NASDAQ:FULC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 256,888 shares of the company’s stock, valued at approximately $1,734,000.

A number of other large investors have also recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. grew its position in Fulcrum Therapeutics by 348.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,150 shares of the company’s stock worth $48,000 after purchasing an additional 5,556 shares during the period. Brown Wealth Management LLC bought a new position in shares of Fulcrum Therapeutics during the 3rd quarter valued at $111,000. Landscape Capital Management L.L.C. purchased a new position in shares of Fulcrum Therapeutics in the 3rd quarter worth $125,000. Algert Global LLC bought a new stake in shares of Fulcrum Therapeutics in the third quarter worth $138,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Fulcrum Therapeutics during the third quarter valued at $268,000. 89.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FULC. The Goldman Sachs Group increased their target price on Fulcrum Therapeutics from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. HC Wainwright increased their price objective on shares of Fulcrum Therapeutics from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Piper Sandler boosted their target price on shares of Fulcrum Therapeutics from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada began coverage on shares of Fulcrum Therapeutics in a research report on Wednesday, March 13th. They issued an “outperform” rating and a $14.00 price target on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Fulcrum Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $13.17.

Fulcrum Therapeutics Trading Down 0.8 %

Shares of NASDAQ:FULC opened at $7.08 on Tuesday. The stock has a 50 day moving average of $9.26 and a 200 day moving average of $7.01. The company has a market cap of $440.05 million, a PE ratio of -4.48 and a beta of 2.29. Fulcrum Therapeutics, Inc. has a 12-month low of $2.43 and a 12-month high of $13.70.

Fulcrum Therapeutics (NASDAQ:FULC) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.04. The business had revenue of $0.87 million for the quarter, compared to the consensus estimate of $0.65 million. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 36.65%. Equities research analysts predict that Fulcrum Therapeutics, Inc. will post -1.76 earnings per share for the current fiscal year.

Insider Activity at Fulcrum Therapeutics

In other Fulcrum Therapeutics news, VP Greg Tourangeau sold 4,884 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $11.72, for a total value of $57,240.48. Following the completion of the sale, the vice president now owns 11,807 shares in the company, valued at approximately $138,378.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.50% of the stock is owned by corporate insiders.

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.