Millennium Management LLC Boosts Stock Position in Fulcrum Therapeutics, Inc. (NASDAQ:FULC)

Millennium Management LLC grew its holdings in Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Free Report) by 224.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,123 shares of the company's stock after purchasing an additional 52,628 shares during the quarter. Millennium Management LLC owned about 0.14% of Fulcrum Therapeutics worth $358,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in FULC. Adage Capital Partners GP L.L.C. lifted its position in Fulcrum Therapeutics by 50.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,000,000 shares of the company's stock worth $14,100,000 after buying an additional 1,000,000 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Fulcrum Therapeutics by 25.1% during the 4th quarter. Northern Trust Corp now owns 710,321 shares of the company's stock worth $3,339,000 after acquiring an additional 142,578 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Fulcrum Therapeutics by 176.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 367,594 shares of the company's stock worth $1,728,000 after acquiring an additional 234,810 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Fulcrum Therapeutics during the 4th quarter valued at about $1,002,000. Finally, ADAR1 Capital Management LLC grew its holdings in shares of Fulcrum Therapeutics by 177.2% in the fourth quarter. ADAR1 Capital Management LLC now owns 196,248 shares of the company's stock valued at $922,000 after purchasing an additional 125,446 shares during the period. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on FULC shares. Leerink Partnrs upgraded Fulcrum Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Friday, May 23rd. Cantor Fitzgerald raised Fulcrum Therapeutics from a "neutral" rating to an "overweight" rating and set a $10.00 price target on the stock in a research note on Thursday, May 15th. Leerink Partners raised Fulcrum Therapeutics from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $4.00 to $12.00 in a research report on Friday, May 23rd. HC Wainwright reaffirmed a "neutral" rating and issued a $4.00 target price on shares of Fulcrum Therapeutics in a research report on Wednesday, February 26th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $9.00 target price (up previously from $6.00) on shares of Fulcrum Therapeutics in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Fulcrum Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $6.29.

Fulcrum Therapeutics Trading Up 0.1%

Fulcrum Therapeutics stock traded up $0.01 during midday trading on Thursday, reaching $6.84. 58,424 shares of the stock traded hands, compared to its average volume of 963,271. The firm has a market cap of $369.22 million, a PE ratio of -22.06 and a beta of 2.41. The company has a 50-day simple moving average of $5.06 and a two-hundred day simple moving average of $4.23. Fulcrum Therapeutics, Inc. has a 12-month low of $2.32 and a 12-month high of $10.13.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.01. Equities research analysts anticipate 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.