Fulcrum Therapeutics (NASDAQ:FULC) Shares Up 7.4% – What’s Next?

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) rose 7.4% during trading on Monday . The stock traded as high as $9.27 and last traded at $9.29. Approximately 79,757 shares changed hands during trading, a decline of 86% from the average daily volume of 572,227 shares. The stock had previously closed at $8.65.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Royal Bank Of Canada boosted their target price on shares of Fulcrum Therapeutics from $5.00 to $7.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 30th. Wall Street Zen cut Fulcrum Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fulcrum Therapeutics in a report on Wednesday, October 8th. Piper Sandler restated an “overweight” rating and set a $16.00 price target (up from $12.50) on shares of Fulcrum Therapeutics in a report on Thursday, October 30th. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Fulcrum Therapeutics in a research note on Monday, October 20th. One 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Fulcrum Therapeutics Price Performance

The stock has a fifty day moving average price of $8.51 and a 200 day moving average price of $7.40. The stock has a market capitalization of $520.20 million, a P/E ratio of -8.15 and a beta of 3.02.

Fulcrum Therapeutics (NASDAQ:FULC) last posted its earnings results on Wednesday, October 29th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.02). Research analysts anticipate that Fulcrum Therapeutics, Inc. will post -0.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nantahala Capital Management LLC grew its holdings in shares of Fulcrum Therapeutics by 8.9% during the 3rd quarter. Nantahala Capital Management LLC now owns 4,670,784 shares of the company’s stock valued at $42,971,000 after purchasing an additional 382,485 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Fulcrum Therapeutics by 42.7% in the 3rd quarter. Millennium Management LLC now owns 150,867 shares of the company’s stock valued at $1,388,000 after acquiring an additional 45,174 shares during the last quarter. Brevan Howard Capital Management LP purchased a new stake in Fulcrum Therapeutics during the 3rd quarter valued at about $141,000. Bank of America Corp DE grew its position in Fulcrum Therapeutics by 220.1% during the 3rd quarter. Bank of America Corp DE now owns 147,211 shares of the company’s stock worth $1,354,000 after acquiring an additional 101,222 shares during the last quarter. Finally, Boothbay Fund Management LLC grew its position in Fulcrum Therapeutics by 104.2% during the 3rd quarter. Boothbay Fund Management LLC now owns 678,414 shares of the company’s stock worth $6,241,000 after acquiring an additional 346,136 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors.

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.