Fulcrum Therapeutics (NASDAQ:FULC) Shares Down 1.7%

Posted by on Apr 8th, 2023

Fulcrum Therapeutics, Inc. (NASDAQ:FULC – Get Rating)’s stock price traded down 1.7% during mid-day trading on Friday . The company traded as low as $2.28 and last traded at $2.38. 959,787 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 1,531,546 shares. The stock had previously closed at $2.42.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group dropped their target price on Fulcrum Therapeutics from $17.00 to $9.00 and set a “buy” rating on the stock in a report on Monday, March 13th. Stifel Nicolaus lowered Fulcrum Therapeutics from a “buy” rating to a “hold” rating and dropped their target price for the company from $35.00 to $6.00 in a report on Thursday, March 9th. Morgan Stanley decreased their price target on Fulcrum Therapeutics from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Friday, March 10th. SVB Securities decreased their price target on Fulcrum Therapeutics from $18.00 to $10.00 in a research note on Friday, March 10th. Finally, Bank of America downgraded Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating in a research note on Friday, February 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.88.

Fulcrum Therapeutics Price Performance

The stock has a 50 day moving average of $7.35 and a two-hundred day moving average of $7.63. The stock has a market capitalization of $146.99 million, a PE ratio of -0.96 and a beta of 2.12.

Insiders Place Their Bets

In other news, major shareholder Ra Capital Management, L.P. bought 1,923,076 shares of the firm’s stock in a transaction on Friday, January 20th. The shares were bought at an average cost of $13.00 per share, for a total transaction of $24,999,988.00. Following the completion of the transaction, the insider now owns 11,609,704 shares in the company, valued at $150,926,152. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fulcrum Therapeutics news, CEO Robert J. Gould sold 6,766 shares of the business’s stock in a transaction on Friday, January 13th. The stock was sold at an average price of $15.00, for a total transaction of $101,490.00. Following the sale, the chief executive officer now directly owns 499,864 shares in the company, valued at $7,497,960. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Ra Capital Management, L.P. bought 1,923,076 shares of the firm’s stock in a transaction on Friday, January 20th. The shares were purchased at an average price of $13.00 per share, for a total transaction of $24,999,988.00. Following the completion of the transaction, the insider now owns 11,609,704 shares of the company’s stock, valued at approximately $150,926,152. The disclosure for this purchase can be found here. 14.50% of the stock is owned by company insiders.

Institutional Trading of Fulcrum Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. RA Capital Management L.P. lifted its position in shares of Fulcrum Therapeutics by 35.8% in the fourth quarter. RA Capital Management L.P. now owns 9,505,925 shares of the company’s stock valued at $69,203,000 after acquiring an additional 2,505,925 shares in the last quarter. FMR LLC lifted its position in shares of Fulcrum Therapeutics by 0.5% in the second quarter. FMR LLC now owns 6,127,231 shares of the company’s stock valued at $30,023,000 after acquiring an additional 30,753 shares in the last quarter. RTW Investments LP lifted its position in shares of Fulcrum Therapeutics by 0.6% in the third quarter. RTW Investments LP now owns 3,985,910 shares of the company’s stock valued at $32,246,000 after acquiring an additional 24,716 shares in the last quarter. BlackRock Inc. lifted its position in shares of Fulcrum Therapeutics by 4.4% in the third quarter. BlackRock Inc. now owns 2,772,344 shares of the company’s stock valued at $22,428,000 after acquiring an additional 117,966 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of Fulcrum Therapeutics by 511.9% in the second quarter. Point72 Asset Management L.P. now owns 1,988,800 shares of the company’s stock valued at $9,745,000 after acquiring an additional 1,663,800 shares in the last quarter.

Fulcrum Therapeutics Company Profile

(Get Rating)

Fulcrum Therapeutics, Inc is a clinical stage biopharmaceutical company. The firm develops new medicines and focuses on unlocking gene control mechanisms to develop small molecule therapies. Its product candidate includes Losmapimod and FTX-HbF. The company was founded by Michael R. Green, Danny Reinberg, Rudolf Jaenisch, Jeannie T.

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