Suvretta Capital Management LLC increased its stake in shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Free Report) by 182.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,338,466 shares of the company's stock after purchasing an additional 2,155,675 shares during the period. Suvretta Capital Management LLC owned 6.19% of Fulcrum Therapeutics worth $15,691,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Adage Capital Partners GP L.L.C. raised its holdings in Fulcrum Therapeutics by 50.0% in 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 acquiring an additional 1,000,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings 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 valued at $1,728,000 after acquiring an additional 234,810 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Fulcrum Therapeutics in the 4th quarter valued at about $1,002,000. LMR Partners LLP raised its holdings in Fulcrum Therapeutics by 367.2% in the 4th quarter. LMR Partners LLP now owns 112,500 shares of the company's stock valued at $529,000 after acquiring an additional 154,600 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Fulcrum Therapeutics by 25.1% in the 4th quarter. Northern Trust Corp now owns 710,321 shares of the company's stock valued at $3,339,000 after acquiring an additional 142,578 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company's stock.
Fulcrum Therapeutics Stock Performance
NASDAQ:FULC opened at $6.88 on Friday. The stock has a market capitalization of $371.38 million, a P/E ratio of -22.19 and a beta of 2.29. The company has a 50 day moving average price of $3.69 and a 200 day moving average price of $3.79. Fulcrum Therapeutics, Inc. has a fifty-two week low of $2.32 and a fifty-two week high of $10.13.
Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.28) earnings per share for the quarter, topping analysts' consensus estimates of ($0.29) by $0.01. Research analysts forecast that Fulcrum Therapeutics, Inc. will post -0.16 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms have commented on FULC. 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. Cantor Fitzgerald raised shares of Fulcrum Therapeutics from a "neutral" rating to an "overweight" rating and set a $10.00 price target for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $4.50.
Check Out Our Latest Stock Analysis on FULC
Fulcrum Therapeutics Company Profile
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Free Report)
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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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