Fulcrum Therapeutics (NASDAQ:FULC) Stock Breaks Above Fifty Day Moving Average - Should You Sell?

Key Points

• Fulcrum Therapeutics shares rose 0.5% and briefly climbed above their 50-day moving average of $3.76, trading as high as $3.80. The stock remains below its 200-day average of $5.92.
• Analyst sentiment remains cautious: Fulcrum has an overall “Reduce” rating, including one Buy, seven Holds, and four Sells, despite an average price target of $8.20. Weiss Ratings reaffirmed its “sell (D-)” rating.
• The company reported a quarterly loss of $0.34 per share, worse than the expected $0.24 loss, while analysts project a full-year loss of $0.60 per share. Institutional investors own approximately 89.83% of the stock.

Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Get Free Report)'s share price crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $3.76 and traded as high as $3.80. Fulcrum Therapeutics shares last traded at $3.77, with a volume of 1,620,682 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Fulcrum Therapeutics in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $8.20.

Fulcrum Therapeutics Trading Up 0.5%

The firm's fifty day simple moving average is $3.76 and its two-hundred day simple moving average is $5.92. The company has a market capitalization of $287.65 million, a price-to-earnings ratio of -3.12 and a beta of 2.63.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.34) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.10). As a group, analysts forecast that Fulcrum Therapeutics, Inc. will post -0.60 EPS for the current fiscal year.

Hedge Funds Weigh In On Fulcrum Therapeutics

Hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its holdings in Fulcrum Therapeutics by 25.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 16,102 shares of the company's stock valued at $124,000 after purchasing an additional 3,219 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Fulcrum Therapeutics by 31.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,921 shares of the company's stock worth $52,000 after purchasing an additional 3,316 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Fulcrum Therapeutics during the first quarter worth $53,000. State of Wyoming acquired a new stake in shares of Fulcrum Therapeutics in the third quarter valued at $35,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Fulcrum Therapeutics in the third quarter valued at $41,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

About Fulcrum Therapeutics

Fulcrum Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for genetically driven diseases. The company's research approach is based on selectively modulating gene expression to address the underlying biology of disease rather than targeting individual symptoms.

Fulcrum's lead investigational program is losmapimod, an oral small-molecule therapy being developed for facioscapulohumeral muscular dystrophy (FSHD), a rare and progressive genetic muscle disorder.

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