Fulcrum Therapeutics (NASDAQ:FULC) Trading Down 4.6% – Here’s What Happened

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) fell 4.6% on Friday . The company traded as low as $10.50 and last traded at $10.7950. 192,354 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 589,283 shares. The stock had previously closed at $11.32.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FULC shares. Royal Bank Of Canada lifted their price objective on Fulcrum Therapeutics from $5.00 to $7.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fulcrum Therapeutics in a research note on Wednesday, October 8th. HC Wainwright boosted their price objective on shares of Fulcrum Therapeutics from $12.00 to $18.00 and gave the company a “buy” rating in a research report on Monday. Piper Sandler restated an “overweight” rating and set a $16.00 target price (up previously from $12.50) on shares of Fulcrum Therapeutics in a research report on Thursday, October 30th. Finally, Leerink Partners set a $20.00 target price on shares of Fulcrum Therapeutics and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $14.17.

Fulcrum Therapeutics Stock Performance

The company’s fifty day moving average price is $9.20 and its two-hundred day moving average price is $7.73. The firm has a market capitalization of $592.88 million, a PE ratio of -9.28 and a beta of 3.02.

Fulcrum Therapeutics (NASDAQ:FULC) last posted its quarterly earnings results 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 expect that Fulcrum Therapeutics, Inc. will post -0.16 earnings per share for the current year.

Insider Buying and Selling at Fulcrum Therapeutics

In related news, Director Robert J. Gould sold 15,000 shares of Fulcrum Therapeutics stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $11.03, for a total value of $165,450.00. Following the transaction, the director owned 484,864 shares in the company, valued at approximately $5,348,049.92. This trade represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Fulcrum Therapeutics

Institutional investors have recently bought and sold shares of the business. Jump Financial LLC purchased a new position in shares of Fulcrum Therapeutics in the 1st quarter valued at $30,000. Brooklyn Investment Group boosted its position in shares of Fulcrum Therapeutics by 209.7% in the first quarter. Brooklyn Investment Group now owns 12,190 shares of the company’s stock worth $35,000 after buying an additional 8,254 shares during the period. Quarry LP acquired a new stake in shares of Fulcrum Therapeutics in the third quarter valued at about $35,000. Virtu Financial LLC acquired a new position in Fulcrum Therapeutics during the 1st quarter worth approximately $39,000. Finally, Russell Investments Group Ltd. boosted its holdings in Fulcrum Therapeutics by 4,209.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 9,308 shares of the company’s stock worth $64,000 after acquiring an additional 9,092 shares during the period. 89.83% of the stock is currently 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.