Fulcrum Therapeutics (NASDAQ:FULC) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Fulcrum Therapeutics (NASDAQ:FULC) in a research note released on Monday, Marketbeat.com reports. They currently have a $12.00 price target on the stock.

FULC has been the topic of a number of other research reports. Wall Street Zen upgraded Fulcrum Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Royal Bank Of Canada upped their target price on Fulcrum Therapeutics from $4.00 to $5.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Fulcrum Therapeutics in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.60.

Fulcrum Therapeutics Price Performance

Shares of NASDAQ:FULC opened at $9.22 on Monday. Fulcrum Therapeutics has a 1 year low of $2.32 and a 1 year high of $9.89. The company has a market cap of $498.71 million, a PE ratio of -7.56 and a beta of 2.93. The stock’s 50-day moving average is $7.73 and its 200 day moving average is $6.63.

Fulcrum Therapeutics (NASDAQ:FULC) last announced its quarterly earnings results on Tuesday, July 29th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.01. Analysts expect that Fulcrum Therapeutics will post -0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Fulcrum Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nantahala Capital Management LLC lifted its position in Fulcrum Therapeutics by 0.9% in the 1st quarter. Nantahala Capital Management LLC now owns 4,822,693 shares of the company’s stock valued at $13,889,000 after acquiring an additional 42,985 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Fulcrum Therapeutics by 53.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,589,000 shares of the company’s stock valued at $31,572,000 after acquiring an additional 1,589,000 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Fulcrum Therapeutics in the 2nd quarter valued at approximately $9,207,000. Exome Asset Management LLC lifted its position in Fulcrum Therapeutics by 143.0% in the 1st quarter. Exome Asset Management LLC now owns 689,137 shares of the company’s stock valued at $1,985,000 after acquiring an additional 405,538 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in Fulcrum Therapeutics by 63.5% in the 2nd quarter. Acadian Asset Management LLC now owns 563,380 shares of the company’s stock valued at $3,871,000 after acquiring an additional 218,819 shares in the last quarter. 89.83% of the stock is owned by institutional investors.

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.