Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Fulcrum Therapeutics, Inc. has received a consensus rating of “Moderate Buy” from seven brokerages, with an average 12-month price target of $9.60.
• Adage Capital Partners GP L.L.C. significantly increased its stake in Fulcrum by 53.0%, now owning nearly 4.6 million shares valued at approximately $31.6 million.
• Fulcrum's current stock price has dipped by 6.5% from its opening price of $8.99, with a notable market cap of $486.27 million.

Shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Get Free Report) have been given an average rating of "Moderate Buy" by the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $9.60.

Several analysts have issued reports on the company. HC Wainwright upgraded Fulcrum Therapeutics from a "neutral" rating to a "buy" rating and boosted their target price for the company from $4.00 to $12.00 in a research note on Tuesday, July 29th. Wall Street Zen upgraded Fulcrum Therapeutics from a "sell" rating to a "hold" rating in a research note on Friday, September 26th. Royal Bank Of Canada boosted their target price on Fulcrum Therapeutics from $4.00 to $5.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Fulcrum Therapeutics in a research note on Wednesday.

Institutional Trading of Fulcrum Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in FULC. Adage Capital Partners GP L.L.C. raised its stake in shares of Fulcrum Therapeutics by 53.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,589,000 shares of the company's stock valued at $31,572,000 after purchasing an additional 1,589,000 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Fulcrum Therapeutics during the 2nd quarter valued at $9,207,000. Exome Asset Management LLC raised its stake in shares of Fulcrum Therapeutics by 143.0% during the 1st quarter. Exome Asset Management LLC now owns 689,137 shares of the company's stock valued at $1,985,000 after purchasing an additional 405,538 shares during the period. Invesco Ltd. raised its stake in shares of Fulcrum Therapeutics by 448.4% during the 2nd quarter. Invesco Ltd. now owns 470,333 shares of the company's stock valued at $3,236,000 after purchasing an additional 384,566 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of Fulcrum Therapeutics by 865.0% during the 1st quarter. Acadian Asset Management LLC now owns 344,561 shares of the company's stock valued at $989,000 after purchasing an additional 308,854 shares during the period. 89.83% of the stock is currently owned by institutional investors.

Fulcrum Therapeutics Trading Down 6.5%

FULC stock opened at $8.99 on Friday. The stock's fifty day simple moving average is $7.45 and its two-hundred day simple moving average is $6.32. Fulcrum Therapeutics has a 1-year low of $2.32 and a 1-year high of $9.88. The stock has a market cap of $486.27 million, a P/E ratio of -7.37 and a beta of 2.93.

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

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