abrdn plc Invests $1.73 Million in Fulcrum Therapeutics, Inc. (NASDAQ:FULC)

abrdn plc purchased a new stake in shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 256,888 shares of the company's stock, valued at approximately $1,734,000. abrdn plc owned approximately 0.42% of Fulcrum Therapeutics as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of FULC. China Universal Asset Management Co. Ltd. increased its position in Fulcrum Therapeutics by 348.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,150 shares of the company's stock valued at $48,000 after acquiring an additional 5,556 shares during the last quarter. Brown Wealth Management LLC bought a new position in Fulcrum Therapeutics during the third quarter valued at $111,000. Landscape Capital Management L.L.C. bought a new position in Fulcrum Therapeutics during the third quarter valued at $125,000. Algert Global LLC bought a new position in Fulcrum Therapeutics during the third quarter valued at $138,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Fulcrum Therapeutics during the third quarter valued at $268,000. Hedge funds and other institutional investors own 89.83% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FULC. HC Wainwright boosted their price objective on shares of Fulcrum Therapeutics from $14.00 to $17.00 and gave the company a "buy" rating in a research report on Wednesday, February 28th. The Goldman Sachs Group boosted their price objective on shares of Fulcrum Therapeutics from $5.00 to $6.00 and gave the company a "neutral" rating in a research report on Thursday, January 25th. Piper Sandler upped their price target on shares of Fulcrum Therapeutics from $13.00 to $15.00 and gave the stock an "overweight" rating in a report on Wednesday, February 28th. Finally, Royal Bank of Canada initiated coverage on shares of Fulcrum Therapeutics in a report on Wednesday, March 13th. They issued an "outperform" rating and a $14.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.17.

Insiders Place Their Bets

In other Fulcrum Therapeutics news, VP Greg Tourangeau sold 4,884 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $11.72, for a total transaction of $57,240.48. Following the transaction, the vice president now directly owns 11,807 shares in the company, valued at approximately $138,378.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is owned by company insiders.

Fulcrum Therapeutics Trading Up 0.7 %

Shares of NASDAQ FULC traded up $0.05 during mid-day trading on Tuesday, reaching $7.13. The company had a trading volume of 365,129 shares, compared to its average volume of 632,999. The business's 50-day moving average is $9.26 and its 200-day moving average is $7.01. Fulcrum Therapeutics, Inc. has a 52 week low of $2.43 and a 52 week high of $13.70.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.04. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 36.65%. The company had revenue of $0.87 million for the quarter, compared to analysts' expectations of $0.65 million. Equities research analysts forecast that Fulcrum Therapeutics, Inc. will post -1.76 earnings per share for the current year.

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.