Fulcrum Therapeutics (NASDAQ:FULC) Raised to Hold at Wall Street Zen

Key Points

• Fulcrum Therapeutics has been upgraded by Wall Street Zen from a "sell" to a "hold" rating, signaling a more favorable outlook for the company's stock.
• Analysts have varied price targets, with the consensus target price set at $9.60, reflecting a potential upside from its current trading price of $8.84.
• Institutional investors hold a significant stake in Fulcrum, owning approximately 89.83% of the company's stock, indicating strong institutional interest in the company.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Friday.

FULC has been the subject of a number of other reports. Royal Bank Of Canada raised their target price on Fulcrum Therapeutics from $4.00 to $5.00 and gave the company a "sector perform" rating in a report on Wednesday, July 30th. Piper Sandler reiterated an "overweight" rating and issued a $9.00 price objective (up previously from $6.00) on shares of Fulcrum Therapeutics in a research note on Thursday, May 29th. Finally, HC Wainwright upgraded Fulcrum Therapeutics from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $4.00 to $12.00 in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Fulcrum Therapeutics has an average rating of "Buy" and a consensus target price of $9.60.

Fulcrum Therapeutics Trading Up 4.0%

Fulcrum Therapeutics stock traded up $0.34 during midday trading on Friday, reaching $8.84. 605,471 shares of the stock traded hands, compared to its average volume of 462,488. The company has a 50-day simple moving average of $7.06 and a two-hundred day simple moving average of $5.89. Fulcrum Therapeutics has a 12-month low of $2.32 and a 12-month high of $8.96. The firm has a market cap of $478.16 million, a PE ratio of -7.25 and a beta of 2.82.

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

Institutional Investors Weigh In On Fulcrum Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in FULC. Jump Financial LLC acquired a new stake in shares of Fulcrum Therapeutics during the 1st quarter worth about $30,000. Brooklyn Investment Group raised its position in shares of Fulcrum Therapeutics by 209.7% during the 1st quarter. Brooklyn Investment Group now owns 12,190 shares of the company's stock worth $35,000 after acquiring an additional 8,254 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Fulcrum Therapeutics during the 4th quarter worth about $38,000. Virtu Financial LLC acquired a new stake in shares of Fulcrum Therapeutics during the 1st quarter worth about $39,000. Finally, Russell Investments Group Ltd. raised its position in shares of Fulcrum Therapeutics by 4,209.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,308 shares of the company's stock worth $64,000 after acquiring an additional 9,092 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company's stock.

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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