Fulcrum Therapeutics (NASDAQ:FULC) Raised to “Hold” at Wall Street Zen

Fulcrum Therapeutics (NASDAQ:FULC) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Friday.

Several other research analysts have also weighed in on the stock. Royal Bank Of Canada lifted their price objective on shares of Fulcrum Therapeutics from $4.00 to $5.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 30th. HC Wainwright raised shares of Fulcrum Therapeutics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $4.00 to $12.00 in a research note on Tuesday, July 29th. Finally, Piper Sandler reissued an “overweight” rating and set a $9.00 price objective (up previously from $6.00) on shares of Fulcrum Therapeutics in a research note on Thursday, May 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Fulcrum Therapeutics has a consensus rating of “Buy” and a consensus target price of $9.60.

Fulcrum Therapeutics Trading Up 4.0%

FULC opened at $8.84 on Friday. The stock has a market capitalization of $478.16 million, a PE ratio of -7.25 and a beta of 2.82. Fulcrum Therapeutics has a 1-year low of $2.32 and a 1-year high of $8.96. The firm has a 50-day moving average price of $7.06 and a two-hundred day moving average price of $5.91.

Fulcrum Therapeutics (NASDAQ:FULC) last issued its earnings results on Tuesday, July 29th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.01. On average, research analysts predict that Fulcrum Therapeutics will post -0.16 EPS for the current year.

Institutional Investors Weigh In On Fulcrum Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Nantahala Capital Management LLC raised its stake in Fulcrum Therapeutics by 0.9% during the first quarter. Nantahala Capital Management LLC now owns 4,822,693 shares of the company’s stock worth $13,889,000 after acquiring an additional 42,985 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of Fulcrum Therapeutics by 53.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,589,000 shares of the company’s stock worth $31,572,000 after buying an additional 1,589,000 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Fulcrum Therapeutics during the 2nd quarter worth approximately $9,207,000. Exome Asset Management LLC grew its position in shares of Fulcrum Therapeutics by 143.0% during the 1st quarter. Exome Asset Management LLC now owns 689,137 shares of the company’s stock worth $1,985,000 after buying an additional 405,538 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Fulcrum Therapeutics by 63.5% during the 2nd quarter. Acadian Asset Management LLC now owns 563,380 shares of the company’s stock worth $3,871,000 after buying an additional 218,819 shares during the period. Institutional investors own 89.83% of the company’s stock.

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.