Invesco Ltd. Raises Stake in Fulcrum Therapeutics, Inc. $FULC

Key Points

• Invesco Ltd. increased its stake in Fulcrum Therapeutics by 186.1%, owning 85,767 shares valued at approximately $247,000 after acquiring 55,791 additional shares in the first quarter.
• Fulcrum Therapeutics reported a loss of ($0.28) earnings per share for the quarter, slightly beating analysts' expectation of ($0.29).
• Several research firms upgraded Fulcrum Therapeutics' rating recently, with price targets reaching as high as $12.00 from HC Wainwright, indicating strong positive sentiment around the stock.

Invesco Ltd. boosted its position in Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Free Report) by 186.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,767 shares of the company's stock after buying an additional 55,791 shares during the period. Invesco Ltd. owned approximately 0.16% of Fulcrum Therapeutics worth $247,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new stake in Fulcrum Therapeutics in the fourth quarter valued at approximately $38,000. Millennium Management LLC boosted 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 valued at $358,000 after buying an additional 52,628 shares during the last quarter. XTX Topco Ltd purchased a new stake in Fulcrum Therapeutics in the 1st quarter worth approximately $144,000. Northern Trust Corp boosted its position in Fulcrum Therapeutics by 25.1% in the 4th quarter. Northern Trust Corp now owns 710,321 shares of the company's stock worth $3,339,000 after purchasing an additional 142,578 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Fulcrum Therapeutics by 46.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 52,368 shares of the company's stock worth $247,000 after purchasing an additional 16,656 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company's stock.

Fulcrum Therapeutics Price Performance

Shares of NASDAQ:FULC opened at $7.66 on Monday. Fulcrum Therapeutics, Inc. has a 1 year low of $2.32 and a 1 year high of $9.30. The firm has a market capitalization of $414.33 million, a price-to-earnings ratio of -6.28 and a beta of 2.82. The business's 50 day moving average price is $7.06 and its 200-day moving average price is $5.49.

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

Analyst Upgrades and Downgrades

FULC has been the topic of several recent research reports. HC Wainwright upgraded Fulcrum Therapeutics from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $4.00 to $12.00 in a research report on Tuesday, July 29th. Leerink Partnrs upgraded Fulcrum Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 23rd. Royal Bank Of Canada upped their price objective on Fulcrum Therapeutics from $4.00 to $5.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. Leerink Partners upgraded Fulcrum Therapeutics from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $4.00 to $12.00 in a research report on Friday, May 23rd. Finally, Piper Sandler restated an "overweight" rating and issued 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, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Fulcrum Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $7.57.

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.

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