Adage Capital Partners GP L.L.C. Increases Stock Position in Fulcrum Therapeutics, Inc. (NASDAQ:FULC)

Adage Capital Partners GP L.L.C. raised its holdings in Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,000,000 shares of the company's stock after acquiring an additional 1,000,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 5.56% of Fulcrum Therapeutics worth $14,100,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. State Street Corp increased its position in shares of Fulcrum Therapeutics by 61.4% in the third quarter. State Street Corp now owns 1,680,229 shares of the company's stock worth $5,998,000 after purchasing an additional 638,955 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in 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 worth $1,728,000 after buying an additional 234,810 shares in the last quarter. ADAR1 Capital Management LLC increased its holdings in shares of Fulcrum Therapeutics by 177.2% in the 4th quarter. ADAR1 Capital Management LLC now owns 196,248 shares of the company's stock worth $922,000 after buying an additional 125,446 shares during the last quarter. Altium Capital Management LLC purchased a new stake in shares of Fulcrum Therapeutics during the 4th quarter valued at $526,000. Finally, Barclays PLC raised its position in shares of Fulcrum Therapeutics by 367.1% during the 3rd quarter. Barclays PLC now owns 124,141 shares of the company's stock valued at $443,000 after buying an additional 97,565 shares in the last quarter. Institutional investors own 89.83% of the company's stock.

Fulcrum Therapeutics Stock Performance

Shares of FULC stock traded up $0.53 on Thursday, hitting $4.38. 926,600 shares of the company's stock traded hands, compared to its average volume of 940,542. The stock has a market capitalization of $236.43 million, a price-to-earnings ratio of -14.13 and a beta of 2.13. The company's fifty day simple moving average is $3.13 and its 200 day simple moving average is $3.61. Fulcrum Therapeutics, Inc. has a one year low of $2.32 and a one year high of $10.13.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.01. As a group, sell-side analysts anticipate that Fulcrum Therapeutics, Inc. will post -0.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a "neutral" rating and issued a $4.00 target price on shares of Fulcrum Therapeutics in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Fulcrum Therapeutics currently has a consensus rating of "Hold" and an average price target of $8.63.

Fulcrum Therapeutics Company Profile

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.