Jacobs Levy Equity Management Inc. Invests $425,000 in Fulcrum Therapeutics, Inc. $FULC

Key Points

• Jacobs Levy Equity Management Inc. has acquired 147,654 shares of Fulcrum Therapeutics, valued at approximately $425,000, during the 1st quarter of this year.
• The stock has received multiple analyst upgrades, with prices targets raised significantly, including a new target of $12.00 from HC Wainwright.
• Institutional investors now hold about 89.83% of Fulcrum Therapeutics' stock, indicating strong institutional interest in the company.

Jacobs Levy Equity Management Inc. acquired a new position in Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 147,654 shares of the company's stock, valued at approximately $425,000. Jacobs Levy Equity Management Inc. owned approximately 0.27% of Fulcrum Therapeutics as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. ADAR1 Capital Management LLC grew its holdings in shares of Fulcrum Therapeutics by 150.0% during the 1st quarter. ADAR1 Capital Management LLC now owns 490,532 shares of the company's stock valued at $1,413,000 after purchasing an additional 294,284 shares during the last quarter. Nantahala Capital Management LLC boosted its position in Fulcrum Therapeutics by 0.9% during the 1st quarter. Nantahala Capital Management LLC now owns 4,822,693 shares of the company's stock worth $13,889,000 after buying an additional 42,985 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Fulcrum Therapeutics in the 1st quarter worth approximately $164,000. Jump Financial LLC acquired a new position in shares of Fulcrum Therapeutics in the 1st quarter worth approximately $30,000. Finally, Brooklyn Investment Group lifted its position in shares of Fulcrum Therapeutics by 209.7% in the 1st quarter. Brooklyn Investment Group now owns 12,190 shares of the company's stock worth $35,000 after purchasing an additional 8,254 shares during the period. 89.83% of the stock is owned by institutional investors.

Fulcrum Therapeutics Price Performance

NASDAQ:FULC traded up $0.07 during trading hours on Monday, hitting $7.07. The company had a trading volume of 424,365 shares, compared to its average volume of 381,938. The company has a market capitalization of $382.42 million, a PE ratio of -5.80 and a beta of 2.82. The stock has a 50-day moving average price of $7.08 and a 200 day moving average price of $5.64. Fulcrum Therapeutics, Inc. has a 52 week low of $2.32 and a 52 week high of $8.50.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported ($0.28) earnings per share for the quarter, topping analysts' consensus estimates of ($0.29) by $0.01. Analysts anticipate that Fulcrum Therapeutics, Inc. will post -0.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FULC shares. Wall Street Zen downgraded shares of Fulcrum Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Leerink Partnrs upgraded shares of Fulcrum Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 23rd. HC Wainwright upgraded shares of Fulcrum Therapeutics from a "neutral" rating to a "buy" rating and boosted their price target for the company from $4.00 to $12.00 in a research note on Tuesday, July 29th. Leerink Partners upgraded shares of Fulcrum Therapeutics from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $4.00 to $12.00 in a research note on Friday, May 23rd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $9.00 target price (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 assigned a Hold rating to the company. According to MarketBeat, Fulcrum Therapeutics has a consensus rating of "Buy" and a consensus price target of $9.60.

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.