Fulcrum Therapeutics (NASDAQ:FULC) Trading 8.7% Higher - Should You Buy?

Key Points

• Fulcrum Therapeutics' shares rose by 8.7%, reaching a high of $9.26 during trading, although trading volume decreased by 69% compared to the average session.
• Analysts have mixed ratings on the stock, with a consensus rating of Moderate Buy and an average price target of $9.60, following an upgrade from HC Wainwright who increased the price target to $12.00.
• The company is focused on developing therapies for genetically defined diseases, with key candidates currently in clinical trials for conditions such as muscular dystrophy and sickle cell disease.

Shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Get Free Report) traded up 8.7% during mid-day trading on Wednesday . The stock traded as high as $9.26 and last traded at $9.44. 174,426 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 562,549 shares. The stock had previously closed at $8.69.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FULC. Weiss Ratings restated a "sell (d-)" rating on shares of Fulcrum Therapeutics in a research note on Wednesday, October 8th. HC Wainwright upgraded shares of Fulcrum Therapeutics from a "neutral" rating to a "buy" rating and raised their price objective for the stock 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 note on Friday, September 26th. Finally, Royal Bank Of Canada raised their price target on shares of Fulcrum Therapeutics from $4.00 to $5.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $9.60.

Fulcrum Therapeutics Price Performance

The firm's 50 day moving average price is $7.52 and its two-hundred day moving average price is $6.42. The stock has a market cap of $521.43 million, a PE ratio of -7.90 and a beta of 2.93.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.01. Analysts anticipate that Fulcrum Therapeutics, Inc. will post -0.16 earnings per share for the current year.

Institutional Trading of Fulcrum Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC grew its holdings in Fulcrum Therapeutics by 0.9% during the 1st quarter. Nantahala Capital Management LLC now owns 4,822,693 shares of the company's stock valued at $13,889,000 after buying an additional 42,985 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Fulcrum Therapeutics by 53.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 4,589,000 shares of the company's stock valued at $31,572,000 after acquiring an additional 1,589,000 shares during the period. Balyasny Asset Management L.P. purchased a new position in Fulcrum Therapeutics during the second quarter valued at approximately $9,207,000. Exome Asset Management LLC grew its stake in Fulcrum Therapeutics by 143.0% during the first quarter. Exome Asset Management LLC now owns 689,137 shares of the company's stock valued at $1,985,000 after acquiring an additional 405,538 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Fulcrum Therapeutics by 63.5% during the 2nd quarter. Acadian Asset Management LLC now owns 563,380 shares of the company's stock worth $3,871,000 after acquiring an additional 218,819 shares during the period. Hedge funds and other institutional investors 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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