Assenagon Asset Management S.A. Has $3.06 Million Position in Fulcrum Therapeutics, Inc. $FULC

Key Points

• Assenagon Asset Management cut its Fulcrum Therapeutics stake by 30% in the second quarter, selling 358,669 shares and retaining 835,204 shares worth approximately $3.06 million. Institutional investors and hedge funds collectively own 89.83% of FULC.
• Fulcrum shares opened at $3.71, near the lower end of their 12-month range of $2.83 to $15.74. The company reported a quarterly loss of $0.34 per share, missing analyst expectations by $0.10.
• Analyst sentiment has weakened substantially: several brokerages downgraded the stock to hold, neutral, underweight, or market perform ratings. MarketBeat reports a consensus rating of “Reduce,” with an average price target of $8.20.

Assenagon Asset Management S.A. lessened its holdings in shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Free Report) by 30.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 835,204 shares of the company's stock after selling 358,669 shares during the period. Assenagon Asset Management S.A. owned 1.25% of Fulcrum Therapeutics worth $3,057,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FULC. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Fulcrum Therapeutics in the fourth quarter worth about $30,000. Meeder Asset Management Inc. bought a new stake in shares of Fulcrum Therapeutics during the fourth quarter valued at approximately $39,000. Quarry LP bought a new stake in shares of Fulcrum Therapeutics during the third quarter valued at approximately $35,000. Persistent Asset Partners Ltd acquired a new stake in shares of Fulcrum Therapeutics in the fourth quarter valued at approximately $75,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Fulcrum Therapeutics in the first quarter valued at approximately $53,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Fulcrum Therapeutics Stock Down 0.3%

Shares of Fulcrum Therapeutics stock opened at $3.71 on Friday. Fulcrum Therapeutics, Inc. has a 12 month low of $2.83 and a 12 month high of $15.74. The business has a fifty day simple moving average of $3.67 and a 200 day simple moving average of $6.48. The stock has a market cap of $283.07 million, a PE ratio of -3.07 and a beta of 3.05.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.10). Analysts expect that Fulcrum Therapeutics, Inc. will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fulcrum Therapeutics news, Director Alan Ezekowitz sold 18,000 shares of the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $3.65, for a total value of $65,700.00. Following the sale, the director directly owned 10,927 shares in the company, valued at approximately $39,883.55. This trade represents a 62.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 7.30% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on FULC. Cantor Fitzgerald lowered Fulcrum Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 2nd. Leerink Partners cut Fulcrum Therapeutics from an "outperform" rating to a "market perform" rating and set a $4.00 target price for the company. in a research note on Tuesday, June 2nd. Citigroup downgraded Fulcrum Therapeutics from an "underperform" rating to an "underweight" rating in a research report on Tuesday, June 2nd. Piper Sandler cut Fulcrum Therapeutics from an "overweight" rating to a "neutral" rating and set a $3.00 price target on the stock. in a report on Tuesday, June 2nd. Finally, Truist Financial lowered Fulcrum Therapeutics from a "buy" rating to a "hold" rating and set a $4.00 price objective for the company. in a research report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $8.20.

Fulcrum Therapeutics Profile

Fulcrum Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing precision medicines that modulate gene expression through epigenetic control. Leveraging a proprietary target discovery platform, Fulcrum seeks to identify small‐molecule therapeutics that restore normal gene function in diseases caused by genetic dysregulation. The company's core research efforts center on transcriptional regulators and chromatin-modifying proteins, aiming to address underlying disease mechanisms rather than downstream symptoms.

Fulcrum's most advanced programs include FTX-6058, an oral therapeutic candidate designed to elevate fetal hemoglobin levels in patients with sickle cell disease and beta-thalassemia, and a preclinical program targeting facioscapulohumeral muscular dystrophy (FSHD) by inhibiting a key epigenetic driver of aberrant gene expression.

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