Fulcrum Therapeutics (NASDAQ:FULC) Stock Price Down 5.2%

Fulcrum Therapeutics, Inc. (NASDAQ:FULC)’s stock price fell 5.2% on Wednesday . The stock traded as low as $28.55 and last traded at $29.26. 7,424 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 1,287,923 shares. The stock had previously closed at $30.87.

Several brokerages have recently weighed in on FULC. Credit Suisse Group increased their price objective on shares of Fulcrum Therapeutics from $20.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 11th. SVB Leerink reiterated a “buy” rating and issued a $23.00 price objective on shares of Fulcrum Therapeutics in a research note on Sunday, August 15th. HC Wainwright increased their price objective on shares of Fulcrum Therapeutics from $20.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, August 17th. Morgan Stanley upgraded shares of Fulcrum Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $12.00 to $34.00 in a research note on Wednesday, August 11th. Finally, Piper Sandler increased their price objective on shares of Fulcrum Therapeutics from $20.00 to $46.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 17th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $33.57.

The firm has a fifty day moving average of $19.35 and a two-hundred day moving average of $13.58. The stock has a market capitalization of $1.15 billion, a P/E ratio of -11.57 and a beta of 1.39.

Fulcrum Therapeutics (NASDAQ:FULC) last posted its earnings results on Tuesday, August 10th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.65) by $0.05. Fulcrum Therapeutics had a negative return on equity of 66.84% and a negative net margin of 481.07%. As a group, equities research analysts anticipate that Fulcrum Therapeutics, Inc. will post -2.68 earnings per share for the current fiscal year.

In other Fulcrum Therapeutics news, Director James A. Geraghty purchased 10,000 shares of the company’s stock in a transaction dated Monday, June 28th. The shares were acquired at an average price of $9.16 per share, for a total transaction of $91,600.00. Following the completion of the purchase, the director now owns 90,714 shares of the company’s stock, valued at $830,940.24. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought 14,488 shares of company stock worth $132,179 in the last 90 days. Insiders own 22.30% of the company’s stock.

Large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company acquired a new position in Fulcrum Therapeutics in the 1st quarter valued at $135,000. American International Group Inc. grew its holdings in shares of Fulcrum Therapeutics by 19.3% during the 1st quarter. American International Group Inc. now owns 9,926 shares of the company’s stock worth $117,000 after purchasing an additional 1,607 shares during the period. BlackRock Inc. lifted its stake in Fulcrum Therapeutics by 8.2% during the 1st quarter. BlackRock Inc. now owns 1,128,579 shares of the company’s stock worth $13,294,000 after acquiring an additional 85,295 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Fulcrum Therapeutics during the 1st quarter worth about $41,000. Finally, JPMorgan Chase & Co. lifted its stake in Fulcrum Therapeutics by 567.1% during the 1st quarter. JPMorgan Chase & Co. now owns 265,505 shares of the company’s stock worth $3,127,000 after acquiring an additional 225,705 shares in the last quarter. 64.80% of the stock is owned by institutional investors.

Fulcrum Therapeutics Company Profile (NASDAQ:FULC)

Fulcrum Therapeutics, Inc is a clinical stage biopharmaceutical company. The firm develops new medicines and focuses on unlocking gene control mechanisms to develop small molecule therapies. Its product candidate includes Losmapimod and FTX-HbF. The company was founded by Michael R. Green, Danny Reinberg, Rudolf Jaenisch, Jeannie T.

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