Bank of America Increases Fulcrum Therapeutics (NASDAQ:FULC) Price Target to $7.00

Fulcrum Therapeutics (NASDAQ:FULC) had its price objective hoisted by equities research analysts at Bank of America from $6.00 to $7.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Bank of America‘s target price would suggest a potential downside of 49.28% from the stock’s previous close.

Several other equities analysts have also recently commented on FULC. Piper Sandler reaffirmed an “overweight” rating and issued a $23.00 price target (up previously from $16.00) on shares of Fulcrum Therapeutics in a report on Monday. The Goldman Sachs Group restated a “positive” rating on shares of Fulcrum Therapeutics in a research report on Monday. Royal Bank Of Canada raised their target price on Fulcrum Therapeutics from $7.00 to $10.00 and gave the stock a “sector perform” rating in a research report on Monday. Cantor Fitzgerald lifted their price target on shares of Fulcrum Therapeutics from $15.00 to $24.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Citigroup reissued an “underperform” rating on shares of Fulcrum Therapeutics in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Fulcrum Therapeutics currently has an average rating of “Hold” and an average target price of $18.50.

Fulcrum Therapeutics Trading Down 5.5%

Shares of FULC stock opened at $13.80 on Tuesday. The firm has a market capitalization of $746.86 million, a P/E ratio of -11.69 and a beta of 3.17. Fulcrum Therapeutics has a 1 year low of $2.32 and a 1 year high of $15.74. The firm’s fifty day simple moving average is $9.65 and its 200 day simple moving average is $8.03.

Fulcrum Therapeutics (NASDAQ:FULC) last posted its quarterly earnings data 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). Equities research analysts anticipate that Fulcrum Therapeutics will post -0.16 EPS for the current fiscal year.

Insider Transactions at Fulcrum Therapeutics

In other Fulcrum Therapeutics news, Director Robert J. Gould sold 15,000 shares of the stock in a transaction dated 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Ra Capital Management, L.P. sold 4,175,139 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $13.98, for a total value of $58,368,443.22. Following the transaction, the insider owned 6,053,960 shares in the company, valued at approximately $84,634,360.80. This trade represents a 40.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Fulcrum Therapeutics

Several large investors have recently bought and sold shares of the company. Acadian Asset Management LLC raised its stake in Fulcrum Therapeutics by 865.0% during the 1st quarter. Acadian Asset Management LLC now owns 344,561 shares of the company’s stock worth $989,000 after buying an additional 308,854 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Fulcrum Therapeutics in the first quarter valued at about $425,000. Exome Asset Management LLC increased its holdings 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 worth $1,985,000 after acquiring an additional 405,538 shares in the last quarter. Strs Ohio acquired a new stake in shares of Fulcrum Therapeutics during the first quarter worth about $263,000. Finally, XTX Topco Ltd bought a new position in shares of Fulcrum Therapeutics during the 1st quarter valued at about $144,000. Institutional investors own 89.83% of the company’s stock.

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.