Fulcrum Therapeutics, Inc. $FULC Shares Acquired by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC significantly increased its stake in Fulcrum Therapeutics by 865.0%, acquiring 308,854 additional shares in the first quarter, bringing their total ownership to 344,561 shares valued at about $989,000.
• Fulcrum Therapeutics shares rose by 3.0%, reaching a trading price of $7.54, with over 286,000 shares exchanged during midday trading.
• Research analysts have mixed ratings for Fulcrum Therapeutics, with target prices varying from $4.00 to $12.00, indicating a consensus rating of "Buy" and an average price target of $9.60.

Acadian Asset Management LLC lifted its stake in shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Free Report) by 865.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 344,561 shares of the company's stock after buying an additional 308,854 shares during the quarter. Acadian Asset Management LLC owned 0.64% of Fulcrum Therapeutics worth $989,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of FULC. Jump Financial LLC purchased a new stake in Fulcrum Therapeutics during the 1st quarter worth approximately $30,000. Brooklyn Investment Group increased its holdings 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 valued at $35,000 after acquiring an additional 8,254 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Fulcrum Therapeutics in the 4th quarter valued at approximately $38,000. Virtu Financial LLC bought a new stake in shares of Fulcrum Therapeutics in the 1st quarter valued at approximately $39,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Fulcrum Therapeutics in the 1st quarter valued at approximately $92,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Fulcrum Therapeutics Stock Down 2.0%

FULC stock traded down $0.15 during trading on Friday, reaching $7.39. 2,098,632 shares of the company's stock were exchanged, compared to its average volume of 459,147. Fulcrum Therapeutics, Inc. has a 1-year low of $2.32 and a 1-year high of $8.50. The company's fifty day moving average price is $7.04 and its 200-day moving average price is $5.76. The firm has a market cap of $399.73 million, a PE ratio of -6.06 and a beta of 2.82.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on FULC. Wall Street Zen downgraded Fulcrum Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. HC Wainwright upgraded 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 report on Tuesday, July 29th. Royal Bank Of Canada boosted their price target on Fulcrum Therapeutics from $4.00 to $5.00 and gave the company a "sector perform" rating in a report on Wednesday, July 30th. Finally, Piper Sandler restated 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. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $9.60.

Fulcrum Therapeutics Company 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.