Fulcrum Therapeutics (NASDAQ:FULC) Sets New 52-Week High - Time to Buy?

Key Points

• Fulcrum Therapeutics' share price reached a new 52-week high of $9.49, with the stock trading at $9.33 on heavy volume of over 1 million shares.
• Analyst ratings for Fulcrum Therapeutics are positive, with a consensus rating of "Buy" and an average target price of $9.60, bolstered by upgrades from several brokerages.
• The company's market cap is $504.68 million, with reported earnings of ($0.28) EPS, exceeding expectations, and analysts forecasting a loss of -0.16 EPS for the current year.

Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $9.49 and last traded at $9.33, with a volume of 1013408 shares traded. The stock had previously closed at $9.20.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FULC. HC Wainwright raised shares of Fulcrum Therapeutics from a "neutral" rating to a "buy" rating and lifted their target price for the company from $4.00 to $12.00 in a report on Tuesday, July 29th. Wall Street Zen upgraded shares of Fulcrum Therapeutics from a "sell" rating to a "hold" rating in a research report on Friday, September 26th. Finally, Royal Bank Of Canada boosted their target price on Fulcrum Therapeutics from $4.00 to $5.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $9.60.

Fulcrum Therapeutics Price Performance

The stock has a market cap of $504.68 million, a price-to-earnings ratio of -7.65 and a beta of 2.82. The company's 50 day moving average is $7.14 and its 200 day moving average is $6.00.

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

Institutional Trading of Fulcrum Therapeutics

Several large investors have recently modified their holdings of the business. Acadian Asset Management LLC raised its position in shares of 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. purchased a new position in Fulcrum Therapeutics during the first quarter worth $425,000. BNP Paribas Financial Markets acquired a new position in shares of Fulcrum Therapeutics in the fourth quarter worth $38,000. Exome Asset Management LLC raised its holdings in shares of Fulcrum Therapeutics by 143.0% in the first quarter. Exome Asset Management LLC now owns 689,137 shares of the company's stock worth $1,985,000 after acquiring an additional 405,538 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Fulcrum Therapeutics by 224.0% in the fourth quarter. Millennium Management LLC now owns 76,123 shares of the company's stock valued at $358,000 after acquiring an additional 52,628 shares in the last quarter. 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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