Brokerages Set Fulcrum Therapeutics, Inc. (NASDAQ:FULC) PT at $6.29

Shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $6.29.

Several research analysts have recently issued reports on the stock. Leerink Partners upgraded shares of Fulcrum Therapeutics from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $4.00 to $12.00 in a research note on Friday, May 23rd. Piper Sandler reaffirmed an "overweight" rating and issued a $9.00 price objective (up from $6.00) on shares of Fulcrum Therapeutics in a research report on Thursday, May 29th. Cantor Fitzgerald upgraded Fulcrum Therapeutics from a "neutral" rating to an "overweight" rating and set a $10.00 target price on the stock in a research note on Thursday, May 15th. Finally, Leerink Partnrs raised Fulcrum Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Friday, May 23rd.

Fulcrum Therapeutics Trading Up 1.1%

Fulcrum Therapeutics stock traded up $0.07 during mid-day trading on Thursday, hitting $7.00. The company had a trading volume of 146,358 shares, compared to its average volume of 916,544. Fulcrum Therapeutics has a 12 month low of $2.32 and a 12 month high of $10.13. The company has a market capitalization of $378.07 million, a PE ratio of -100.04 and a beta of 2.37. The stock's 50 day moving average price is $6.36 and its two-hundred day moving average price is $4.58.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last announced its quarterly earnings results 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. Equities research analysts anticipate that Fulcrum Therapeutics will post -0.16 EPS for the current year.

Hedge Funds Weigh In On Fulcrum Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Suvretta Capital Management LLC increased its position in Fulcrum Therapeutics by 182.3% during the fourth quarter. Suvretta Capital Management LLC now owns 3,338,466 shares of the company's stock valued at $15,691,000 after acquiring an additional 2,155,675 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of Fulcrum Therapeutics by 50.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,000,000 shares of the company's stock valued at $14,100,000 after purchasing an additional 1,000,000 shares during the period. Woodline Partners LP increased 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 valued at $6,629,000 after purchasing an additional 739,713 shares during the last quarter. Exome Asset Management LLC lifted its stake in shares of Fulcrum Therapeutics by 143.0% in the 1st quarter. Exome Asset Management LLC now owns 689,137 shares of the company's stock worth $1,985,000 after purchasing an additional 405,538 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in shares of Fulcrum Therapeutics by 865.0% in the 1st quarter. Acadian Asset Management LLC now owns 344,561 shares of the company's stock worth $989,000 after purchasing an additional 308,854 shares during the period. 89.83% of the stock is owned by institutional investors.

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.