Fulcrum Therapeutics (NASDAQ:FULC) Downgraded to "Sell" Rating by Wall Street Zen

Key Points

• Fulcrum Therapeutics' stock rating was downgraded from "hold" to "sell" by Wall Street Zen, indicating a negative outlook for the company.
• Despite the downgrade, other firms like Royal Bank of Canada and Piper Sandler have set target prices of $5.00 and $9.00 respectively, reflecting a mix of opinions among analysts.
• Fulcrum Therapeutics has shown a 52-week price range between $2.32 and $10.13, with a current market cap of approximately $351 million.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

Several other analysts also recently weighed in on the company. Cantor Fitzgerald upgraded Fulcrum Therapeutics from a "neutral" rating to an "overweight" rating and set a $10.00 target price for the company in a research note on Thursday, May 15th. Piper Sandler restated an "overweight" rating and set a $9.00 target price (up from $6.00) on shares of Fulcrum Therapeutics in a research note on Thursday, May 29th. 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 research note on Wednesday, July 30th. HC Wainwright upgraded Fulcrum Therapeutics from a "neutral" rating to a "buy" rating and raised their target price for the company from $4.00 to $12.00 in a research note on Tuesday, July 29th. Finally, Leerink Partnrs upgraded Fulcrum Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 23rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $7.57.

Fulcrum Therapeutics Price Performance

NASDAQ FULC traded up $0.35 during trading hours on Friday, hitting $6.89. The company had a trading volume of 70,354 shares, compared to its average volume of 588,077. Fulcrum Therapeutics has a fifty-two week low of $2.32 and a fifty-two week high of $10.13. The company has a market capitalization of $372.46 million, a price-to-earnings ratio of -5.66 and a beta of 2.47. The firm's 50 day moving average is $7.16 and its 200 day moving average is $5.13.

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

Hedge Funds Weigh In On Fulcrum Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Jump Financial LLC bought a new position in Fulcrum Therapeutics in the first quarter worth about $30,000. Brooklyn Investment Group lifted its holdings in Fulcrum Therapeutics by 209.7% in the first quarter. Brooklyn Investment Group now owns 12,190 shares of the company's stock worth $35,000 after acquiring an additional 8,254 shares during the last quarter. BNP Paribas Financial Markets bought a new position in Fulcrum Therapeutics in the fourth quarter worth about $38,000. Virtu Financial LLC bought a new position in Fulcrum Therapeutics in the first quarter worth about $39,000. Finally, Russell Investments Group Ltd. lifted its holdings in Fulcrum Therapeutics by 4,209.3% in the second 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 during the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Fulcrum Therapeutics Company Profile

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.