Fulcrum Therapeutics (NASDAQ:FULC) Reaches New 12-Month High - Here's What Happened

Key Points

• Fulcrum Therapeutics (NASDAQ: FULC) has reached a new 12-month high, trading at $9.74 with a volume of 73,306 shares.
• Wall Street analysts' ratings for Fulcrum range from a "Strong Buy" to "Sell," with a consensus target price of $9.60.
• The company is currently in clinical trials for two product candidates, including losmapimod for muscular dystrophy and pociredir for sickle cell disease.

Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $9.71 and last traded at $9.74, with a volume of 73306 shares trading hands. The stock had previously closed at $9.24.

Wall Street Analysts Forecast Growth

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

Fulcrum Therapeutics Stock Performance

The company has a fifty day moving average of $7.29 and a two-hundred day moving average of $6.21. The company has a market cap of $520.89 million, a PE ratio of -7.89 and a beta of 2.93.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last released its 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. On average, equities analysts forecast that Fulcrum Therapeutics, Inc. will post -0.16 EPS for the current year.

Institutional Trading of Fulcrum Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in FULC. Russell Investments Group Ltd. lifted its stake in shares of Fulcrum Therapeutics by 4,209.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 9,308 shares of the company's stock valued at $64,000 after purchasing an additional 9,092 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Fulcrum Therapeutics in the 1st quarter valued at $30,000. Brooklyn Investment Group raised its holdings in shares of Fulcrum Therapeutics by 209.7% in the 1st quarter. Brooklyn Investment Group now owns 12,190 shares of the company's stock valued at $35,000 after buying an additional 8,254 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Fulcrum Therapeutics by 26.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,943 shares of the company's stock valued at $89,000 after buying an additional 2,677 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Fulcrum Therapeutics in the 2nd quarter valued at $93,000. 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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