BlackRock Inc. Acquires Shares of 8,824,259 Fulcrum Therapeutics, Inc. $FULC

Key Points

• BlackRock acquired 8.82 million Fulcrum Therapeutics shares worth approximately $32.3 million, giving it an 11.57% stake. Institutional investors collectively own 89.83% of FULC.
• Fulcrum reported a quarterly loss of $0.34 per share, missing estimates by $0.10. Analysts expect a full-year loss of $0.69 per share.
• Investor sentiment is largely negative: analysts have a consensus “Reduce” rating, with one Buy, seven Hold, and four Sell ratings, despite an average price target of $8.20 versus the stock’s $3.87 price.

BlackRock Inc. bought a new position in Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 8,824,259 shares of the company's stock, valued at approximately $32,297,000. BlackRock Inc. owned approximately 11.57% of Fulcrum Therapeutics at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Deutsche Bank AG acquired a new stake in shares of Fulcrum Therapeutics during the 2nd quarter valued at approximately $192,000. Bank of New York Mellon Corp acquired a new position in Fulcrum Therapeutics in the second quarter worth $566,000. GSA Capital Partners LLP bought a new stake in Fulcrum Therapeutics during the second quarter valued at $527,000. Marquette Asset Management LLC bought a new stake in Fulcrum Therapeutics during the second quarter valued at $141,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Fulcrum Therapeutics during the second quarter worth $856,000. 89.83% of the stock is currently owned by institutional investors.

Fulcrum Therapeutics Stock Performance

Shares of FULC opened at $3.87 on Wednesday. Fulcrum Therapeutics, Inc. has a 1 year low of $2.83 and a 1 year high of $15.74. The company has a market cap of $295.28 million, a price-to-earnings ratio of -3.20 and a beta of 2.59. The firm has a fifty day moving average of $3.74 and a 200-day moving average of $5.88.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last issued its quarterly earnings data 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 predict that Fulcrum Therapeutics, Inc. will post -0.69 EPS for the current year.

Insider Activity

In related news, Director Alan Ezekowitz sold 18,000 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $3.65, for a total value of $65,700.00. Following the completion of the transaction, the director directly owned 10,927 shares of the company's stock, valued at $39,883.55. This represents a 62.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 7.30% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FULC shares. Cantor Fitzgerald lowered shares of Fulcrum Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 2nd. Citigroup lowered shares of Fulcrum Therapeutics from an "underperform" rating to an "underweight" rating in a research note on Tuesday, June 2nd. Piper Sandler cut shares of Fulcrum Therapeutics from an "overweight" rating to a "neutral" rating and set a $3.00 target price on the stock. in a report on Tuesday, June 2nd. Weiss Ratings restated a "sell (d-)" rating on shares of Fulcrum Therapeutics in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. lowered Fulcrum Therapeutics from an "overweight" rating to an "underweight" rating in a report on Wednesday, June 3rd. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $8.20.

About Fulcrum Therapeutics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source