Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Receives Average Rating of “Moderate Buy” from Brokerages

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) has received a consensus rating of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $13.17.

Several research analysts recently issued reports on the company. HC Wainwright lifted their price objective on Fulcrum Therapeutics from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. The Goldman Sachs Group upped their price objective on Fulcrum Therapeutics from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Piper Sandler lifted their price objective on Fulcrum Therapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada initiated coverage on shares of Fulcrum Therapeutics in a report on Wednesday, March 13th. They issued an “outperform” rating and a $14.00 target price on the stock.

Fulcrum Therapeutics Stock Performance

Fulcrum Therapeutics stock opened at $7.75 on Friday. Fulcrum Therapeutics has a one year low of $2.63 and a one year high of $13.70. The company has a market cap of $481.66 million, a P/E ratio of -4.91 and a beta of 2.35. The business has a fifty day moving average of $9.13 and a two-hundred day moving average of $7.04.

Fulcrum Therapeutics (NASDAQ:FULC) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.04. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 36.65%. The firm had revenue of $0.87 million for the quarter, compared to analysts’ expectations of $0.65 million. Sell-side analysts predict that Fulcrum Therapeutics will post -1.76 EPS for the current year.

Insider Activity

In other Fulcrum Therapeutics news, VP Greg Tourangeau sold 4,884 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $11.72, for a total value of $57,240.48. Following the sale, the vice president now directly owns 11,807 shares of the company’s stock, valued at approximately $138,378.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC increased its position in Fulcrum Therapeutics by 7.6% during the third quarter. FMR LLC now owns 5,975,416 shares of the company’s stock worth $26,531,000 after purchasing an additional 421,676 shares during the last quarter. Cowen AND Company LLC increased its holdings in shares of Fulcrum Therapeutics by 38.2% during the 3rd quarter. Cowen AND Company LLC now owns 4,308,359 shares of the company’s stock worth $19,129,000 after buying an additional 1,191,363 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of Fulcrum Therapeutics by 4.3% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,406,422 shares of the company’s stock worth $10,685,000 after buying an additional 100,000 shares during the period. Vestal Point Capital LP acquired a new position in Fulcrum Therapeutics in the fourth quarter valued at $6,919,000. Finally, ADAR1 Capital Management LLC purchased a new stake in Fulcrum Therapeutics during the fourth quarter valued at about $4,302,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

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.