Jacobs Levy Equity Management Inc. Purchases New Holdings 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. purchased a new stake in shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FULC. Price T Rowe Associates Inc. MD grew its holdings in shares of Fulcrum Therapeutics by 46.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 52,368 shares of the company's stock valued at $247,000 after buying an additional 16,656 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Fulcrum Therapeutics by 25.1% during the fourth quarter. Northern Trust Corp now owns 710,321 shares of the company's stock valued at $3,339,000 after buying an additional 142,578 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Fulcrum Therapeutics during the fourth quarter valued at $38,000. Millennium Management LLC boosted its position in Fulcrum Therapeutics by 224.0% during the fourth quarter. Millennium Management LLC now owns 76,123 shares of the company's stock valued at $358,000 after purchasing an additional 52,628 shares during the last quarter. Finally, Shay Capital LLC boosted its position in Fulcrum Therapeutics by 4.2% during the fourth quarter. Shay Capital LLC now owns 301,464 shares of the company's stock valued at $1,417,000 after purchasing an additional 12,227 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company's stock.

Fulcrum Therapeutics Price Performance

Shares of NASDAQ FULC traded up $0.22 during trading hours on Thursday, hitting $7.54. 286,983 shares of the company's stock were exchanged, compared to its average volume of 380,013. Fulcrum Therapeutics, Inc. has a 1-year low of $2.32 and a 1-year high of $8.50. The stock has a market capitalization of $407.84 million, a price-to-earnings ratio of -6.18 and a beta of 2.82. The company's 50-day moving average price is $7.05 and its 200-day moving average price is $5.69.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.01. On average, research analysts expect that Fulcrum Therapeutics, Inc. will post -0.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FULC shares. Wall Street Zen cut Fulcrum Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. 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 report on Thursday, May 29th. Royal Bank Of Canada lifted their price objective on Fulcrum Therapeutics from $4.00 to $5.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Leerink Partners raised Fulcrum Therapeutics from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $4.00 to $12.00 in a research report on Friday, May 23rd. Finally, HC Wainwright raised Fulcrum Therapeutics from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $4.00 to $12.00 in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Fulcrum Therapeutics presently has a consensus rating of "Buy" and an average price target of $9.60.

Fulcrum Therapeutics 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.