Fulcrum Therapeutics (NASDAQ:FULC) Stock Price Expected to Rise, HC Wainwright Analyst Says

Fulcrum Therapeutics (NASDAQ:FULC) had its target price hoisted by investment analysts at HC Wainwright from $18.00 to $25.00 in a research report issued on Monday, MarketBeat reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 71.23% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Piper Sandler reissued an “overweight” rating and issued a $23.00 price target (up previously from $16.00) on shares of Fulcrum Therapeutics in a research report on Monday. Leerink Partners set a $20.00 target price on shares of Fulcrum Therapeutics and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Fulcrum Therapeutics in a report on Wednesday, October 8th. Truist Financial set a $14.00 price target on Fulcrum Therapeutics in a research report on Monday, November 24th. Finally, Wall Street Zen cut Fulcrum Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.50.

Fulcrum Therapeutics Price Performance

Shares of NASDAQ:FULC opened at $14.60 on Monday. The stock has a market capitalization of $790.12 million, a P/E ratio of -12.37 and a beta of 3.17. The business has a 50-day moving average of $9.56 and a two-hundred day moving average of $7.99. Fulcrum Therapeutics has a fifty-two week low of $2.32 and a fifty-two week high of $15.74.

Fulcrum Therapeutics (NASDAQ:FULC) last issued 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). As a group, research analysts expect that Fulcrum Therapeutics will post -0.16 EPS for the current fiscal year.

Insider Activity

In other news, Director Robert J. Gould sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $11.03, for a total transaction of $165,450.00. Following the completion of the transaction, the director owned 484,864 shares of the company’s stock, valued at approximately $5,348,049.92. This represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On Fulcrum Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. raised its holdings in Fulcrum Therapeutics by 53.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,589,000 shares of the company’s stock valued at $31,572,000 after acquiring an additional 1,589,000 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Fulcrum Therapeutics during the second quarter valued at approximately $9,207,000. Exome Asset Management LLC raised its stake in shares of Fulcrum Therapeutics by 143.0% in the first quarter. Exome Asset Management LLC now owns 689,137 shares of the company’s stock valued at $1,985,000 after purchasing an additional 405,538 shares in the last quarter. Invesco Ltd. lifted its position in Fulcrum Therapeutics by 448.4% in the second quarter. Invesco Ltd. now owns 470,333 shares of the company’s stock worth $3,236,000 after purchasing an additional 384,566 shares during the period. Finally, Nantahala Capital Management LLC lifted its position in Fulcrum Therapeutics by 8.9% in the third quarter. Nantahala Capital Management LLC now owns 4,670,784 shares of the company’s stock worth $42,971,000 after purchasing an additional 382,485 shares during the period. 89.83% of the stock is currently owned by 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.