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

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wall Street Zen lowered shares of Fulcrum Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Truist Financial set a $14.00 price target on shares of Fulcrum Therapeutics in a research report on Monday, November 24th. HC Wainwright raised their price objective on Fulcrum Therapeutics from $12.00 to $18.00 and gave the company a “buy” rating in a report on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fulcrum Therapeutics in a research report on Wednesday, October 8th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fulcrum Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $14.17.

Fulcrum Therapeutics Trading Down 5.2%

The firm’s 50 day moving average price is $9.26 and its two-hundred day moving average price is $7.78. The company has a market capitalization of $580.98 million, a price-to-earnings ratio of -9.10 and a beta of 3.02.

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

Insider Activity at Fulcrum Therapeutics

In other news, Director Robert J. Gould sold 15,000 shares of Fulcrum Therapeutics stock in a transaction that occurred 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 in the company, valued at approximately $5,348,049.92. The trade was a 3.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Fulcrum Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its position in shares of Fulcrum Therapeutics by 865.0% in the first quarter. Acadian Asset Management LLC now owns 344,561 shares of the company’s stock valued at $989,000 after purchasing an additional 308,854 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Fulcrum Therapeutics during the first quarter worth $425,000. Exome Asset Management LLC boosted its position 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 acquiring an additional 405,538 shares during the period. Strs Ohio acquired a new position in shares of Fulcrum Therapeutics in the first quarter valued at about $263,000. Finally, XTX Topco Ltd acquired a new position in shares of Fulcrum Therapeutics in the first quarter valued at about $144,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

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.