Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 132,784 Fulcrum Therapeutics, Inc. (NASDAQ:FULC)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Fulcrum Therapeutics, Inc. (NASDAQ:FULC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 132,784 shares of the company’s stock, valued at approximately $474,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.21% of Fulcrum Therapeutics as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. raised its holdings in Fulcrum Therapeutics by 64.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 12,002 shares of the company’s stock valued at $43,000 after acquiring an additional 4,701 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Fulcrum Therapeutics by 26.5% during the third quarter. SG Americas Securities LLC now owns 33,019 shares of the company’s stock worth $118,000 after purchasing an additional 6,926 shares during the last quarter. Algert Global LLC grew its stake in Fulcrum Therapeutics by 202.1% in the second quarter. Algert Global LLC now owns 41,303 shares of the company’s stock worth $256,000 after purchasing an additional 27,633 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Fulcrum Therapeutics during the second quarter valued at approximately $152,000. Finally, Caxton Associates LP bought a new position in Fulcrum Therapeutics during the 2nd quarter worth approximately $117,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Fulcrum Therapeutics Price Performance

Shares of NASDAQ:FULC opened at $3.85 on Friday. The stock’s 50 day moving average price is $3.44 and its 200 day moving average price is $6.19. The stock has a market cap of $207.67 million, a price-to-earnings ratio of -12.42 and a beta of 2.24. Fulcrum Therapeutics, Inc. has a 12 month low of $2.86 and a 12 month high of $13.70.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FULC. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $4.00 price objective on shares of Fulcrum Therapeutics in a research report on Thursday, November 14th. Bank of America downgraded Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $10.00 to $2.00 in a report on Thursday, September 12th. HC Wainwright restated a “neutral” rating and set a $4.00 price objective on shares of Fulcrum Therapeutics in a research note on Thursday, November 14th. Leerink Partners reiterated a “market perform” rating and issued a $4.00 target price on shares of Fulcrum Therapeutics in a research note on Thursday, September 12th. Finally, Stifel Nicolaus lowered shares of Fulcrum Therapeutics from a “buy” rating to a “hold” rating and lowered their price target for the stock from $22.00 to $3.00 in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.33.

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.