Mackenzie Financial Corp Acquires 94,997 Shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC)

Mackenzie Financial Corp raised its holdings in shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Free Report) by 412.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 118,025 shares of the company's stock after acquiring an additional 94,997 shares during the period. Mackenzie Financial Corp owned approximately 0.22% of Fulcrum Therapeutics worth $555,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Suvretta Capital Management LLC boosted its position in shares of Fulcrum Therapeutics by 182.3% in the 4th quarter. Suvretta Capital Management LLC now owns 3,338,466 shares of the company's stock worth $15,691,000 after purchasing an additional 2,155,675 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings 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 during the last quarter. Woodline Partners LP grew its position in shares of Fulcrum Therapeutics by 110.3% during the 4th quarter. Woodline Partners LP now owns 1,410,520 shares of the company's stock worth $6,629,000 after buying an additional 739,713 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Fulcrum Therapeutics by 176.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 367,594 shares of the company's stock valued at $1,728,000 after acquiring an additional 234,810 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Fulcrum Therapeutics in the 4th quarter valued at about $1,002,000. Institutional investors own 89.83% of the company's stock.

Wall Street Analyst Weigh In

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

Fulcrum Therapeutics Price Performance

FULC stock traded up $0.08 during midday trading on Thursday, reaching $7.11. The company had a trading volume of 223,630 shares, compared to its average volume of 966,420. Fulcrum Therapeutics, Inc. has a 1-year low of $2.32 and a 1-year high of $10.13. The stock has a 50 day moving average price of $4.63 and a 200-day moving average price of $4.09. The company has a market capitalization of $383.79 million, a price-to-earnings ratio of -22.93 and a beta of 2.29.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.29) by $0.01. As a group, 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.