Fulcrum Therapeutics (NASDAQ:FULC) Hits New 12-Month High - Here's Why

Key Points

• Fulcrum Therapeutics' stock reached a new 52-week high of $9.89 during mid-day trading, with a recent volume of 554,766 shares traded.
• Several analysts have upgraded the stock, with HC Wainwright increasing their price target from $4.00 to $12.00, while the average rating for Fulcrum Therapeutics stands at "Moderate Buy".
• Institutional investors hold 89.83% of Fulcrum Therapeutics' stock, with notable increases in positions from Acadian Asset Management and Exome Asset Management during the first quarter.

Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $9.89 and last traded at $9.64, with a volume of 554766 shares changing hands. The stock had previously closed at $8.69.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FULC shares. Wall Street Zen upgraded Fulcrum Therapeutics from a "sell" rating to a "hold" rating in a research note on Friday, September 26th. HC Wainwright raised shares of Fulcrum Therapeutics from a "neutral" rating to a "buy" rating and increased their price target for the company from $4.00 to $12.00 in a research note on Tuesday, July 29th. Royal Bank Of Canada increased their price objective on Fulcrum Therapeutics from $4.00 to $5.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Fulcrum Therapeutics in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Fulcrum Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $9.60.

Fulcrum Therapeutics Stock Performance

The company has a 50-day moving average of $7.58 and a 200-day moving average of $6.45. The firm has a market capitalization of $524.96 million, a price-to-earnings ratio of -7.95 and a beta of 2.93.

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

Institutional Investors Weigh In On Fulcrum Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its position in Fulcrum Therapeutics by 865.0% during 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 last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Fulcrum Therapeutics during the first quarter worth $425,000. Exome Asset Management LLC lifted its holdings in Fulcrum Therapeutics by 143.0% in the first quarter. Exome Asset Management LLC now owns 689,137 shares of the company's stock valued at $1,985,000 after buying an additional 405,538 shares during the period. XTX Topco Ltd acquired a new stake in Fulcrum Therapeutics during the 1st quarter worth about $144,000. Finally, Nuveen LLC bought a new position in shares of Fulcrum Therapeutics in the 1st quarter worth about $441,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

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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