Connor Clark & Lunn Investment Management Ltd. Sells 149,845 Shares of Fulcrum Therapeutics, Inc. $FULC

Key Points

• Connor Clark & Lunn Investment Management Ltd. sold 149,845 shares of Fulcrum Therapeutics, Inc., reducing its holdings by 40.8% and now owning 217,749 shares, valued at approximately $627,000.
• Analysts' ratings for Fulcrum Therapeutics are mixed, with two sell ratings, two holds, four buys, and one strong buy, leading to an average rating of "Hold" and a consensus price target of $7.57.
• The stock of Fulcrum Therapeutics has experienced recent trading fluctuations, currently priced at $6.64, with a twelve-month low of $2.32 and a high of $9.90.

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Free Report) by 40.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 217,749 shares of the company's stock after selling 149,845 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.40% of Fulcrum Therapeutics worth $627,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. MetLife Investment Management LLC grew its stake in Fulcrum Therapeutics by 145.8% in the 4th quarter. MetLife Investment Management LLC now owns 40,107 shares of the company's stock worth $189,000 after buying an additional 23,792 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Fulcrum Therapeutics in the fourth quarter worth $38,000. Millennium Management LLC grew its position in Fulcrum Therapeutics by 224.0% in the fourth quarter. Millennium Management LLC now owns 76,123 shares of the company's stock worth $358,000 after acquiring an additional 52,628 shares in the last quarter. Northern Trust Corp increased its stake in Fulcrum Therapeutics by 25.1% in the fourth quarter. Northern Trust Corp now owns 710,321 shares of the company's stock valued at $3,339,000 after acquiring an additional 142,578 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in Fulcrum Therapeutics during the first quarter valued at about $144,000. 89.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on FULC shares. Leerink Partners raised shares of Fulcrum Therapeutics from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $4.00 to $12.00 in a research note on Friday, May 23rd. Cantor Fitzgerald raised Fulcrum Therapeutics from a "neutral" rating to an "overweight" rating and set a $10.00 price objective on the stock in a research note on Thursday, May 15th. Leerink Partnrs raised 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 raised their target price for the stock from $4.00 to $12.00 in a report on Tuesday, July 29th. Finally, Piper Sandler reiterated an "overweight" rating and set a $9.00 price target (up from $6.00) on shares of Fulcrum Therapeutics in a report on Thursday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $7.57.

Fulcrum Therapeutics Trading Down 0.8%

Fulcrum Therapeutics stock traded down $0.05 on Thursday, hitting $6.52. 440,655 shares of the stock traded hands, compared to its average volume of 583,988. The business's fifty day simple moving average is $7.11 and its 200 day simple moving average is $5.23. The firm has a market cap of $352.67 million, a P/E ratio of -5.34 and a beta of 2.47. Fulcrum Therapeutics, Inc. has a 1 year low of $2.32 and a 1 year high of $9.90.

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

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.