Insider Selling: Fulcrum Therapeutics (NASDAQ:FULC) Major Shareholder Sells $58,368,443.22 in Stock

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) major shareholder Ra Capital Management, L.P. sold 4,175,139 shares of the 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 completion of the sale, the insider owned 6,053,960 shares of the company’s stock, valued at $84,634,360.80. This trade represents a 40.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Fulcrum Therapeutics Price Performance

NASDAQ:FULC opened at $13.00 on Friday. The business’s 50-day simple moving average is $9.79 and its 200-day simple moving average is $8.11. Fulcrum Therapeutics, Inc. has a fifty-two week low of $2.32 and a fifty-two week high of $15.74. The stock has a market capitalization of $703.53 million, a PE ratio of -11.02 and a beta of 3.17.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fulcrum Therapeutics in a research note on Wednesday, October 8th. Cantor Fitzgerald upped their price objective on Fulcrum Therapeutics from $15.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday. Leerink Partners set a $20.00 price objective on Fulcrum Therapeutics and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Truist Financial boosted their target price on Fulcrum Therapeutics from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday. Finally, HC Wainwright upped their price target on Fulcrum Therapeutics from $18.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $19.00.

Hedge Funds Weigh In On Fulcrum Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jump Financial LLC bought a new stake in Fulcrum Therapeutics during the first quarter worth $30,000. Brooklyn Investment Group raised its holdings in shares of Fulcrum Therapeutics by 209.7% in the 1st quarter. Brooklyn Investment Group now owns 12,190 shares of the company’s stock valued at $35,000 after purchasing an additional 8,254 shares during the period. Quarry LP acquired a new stake in Fulcrum Therapeutics in the 3rd quarter valued at about $35,000. Virtu Financial LLC bought a new position in Fulcrum Therapeutics during the first quarter worth about $39,000. Finally, Russell Investments Group Ltd. increased its position in Fulcrum Therapeutics by 4,209.3% during the second quarter. Russell Investments Group Ltd. now owns 9,308 shares of the company’s stock worth $64,000 after buying an additional 9,092 shares during the last quarter. 89.83% of the stock is owned by institutional investors.

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.