Fulcrum Therapeutics (NASDAQ:FULC) Stock Price Up 7.7% – Here’s What Happened

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) was up 7.7% during trading on Wednesday . The stock traded as high as $9.59 and last traded at $9.64. Approximately 402,885 shares were traded during trading, a decline of 32% from the average daily volume of 591,471 shares. The stock had previously closed at $8.95.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FULC shares. Weiss Ratings restated a “sell (d-)” rating on shares of Fulcrum Therapeutics in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Fulcrum Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. HC Wainwright increased their price objective on Fulcrum Therapeutics from $12.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, November 24th. Leerink Partners set a $20.00 target price on Fulcrum Therapeutics and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Finally, Royal Bank Of Canada boosted their price target on shares of Fulcrum Therapeutics from $5.00 to $7.00 and gave the company a “sector perform” rating in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Fulcrum Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $14.17.

Fulcrum Therapeutics Price Performance

The company has a market capitalization of $502.77 million, a PE ratio of -7.86 and a beta of 3.17. The stock’s 50 day simple moving average is $9.34 and its 200-day simple moving average is $7.83.

Fulcrum Therapeutics (NASDAQ:FULC) last announced its quarterly earnings data on Wednesday, October 29th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.02). On average, equities analysts predict that Fulcrum Therapeutics, Inc. will post -0.16 earnings per share for the current year.

Insider Transactions at Fulcrum Therapeutics

In related news, Director Robert J. Gould sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $11.03, for a total transaction of $165,450.00. Following the completion of the transaction, the director directly owned 484,864 shares of the company’s stock, valued at $5,348,049.92. The trade was a 3.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP purchased a new position in Fulcrum Therapeutics during the 3rd quarter worth $35,000. Farther Finance Advisors LLC increased its position in Fulcrum Therapeutics by 108.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 7,112 shares of the company’s stock worth $65,000 after purchasing an additional 3,697 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Fulcrum Therapeutics by 4,209.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 9,308 shares of the company’s stock valued at $64,000 after buying an additional 9,092 shares during the period. Assetmark Inc. purchased a new position in Fulcrum Therapeutics in the third quarter worth $88,000. Finally, Jump Financial LLC acquired a new stake in Fulcrum Therapeutics in the first quarter valued at $30,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

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.