Cantor Fitzgerald Initiates Coverage on Fulcrum Therapeutics (NASDAQ:FULC)

Cantor Fitzgerald began coverage on shares of Fulcrum Therapeutics (NASDAQ:FULC) in a research report released on Monday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $23.00 price objective on the stock. Cantor Fitzgerald also issued estimates for Fulcrum Therapeutics’ FY2024 earnings at ($0.78) EPS.

Several other equities analysts also recently commented on FULC. The Goldman Sachs Group upgraded shares of Fulcrum Therapeutics from a neutral rating to a buy rating and upped their price target for the company from $6.00 to $15.00 in a report on Monday, May 13th. Piper Sandler increased their price target on Fulcrum Therapeutics from $13.00 to $15.00 and gave the stock an overweight rating in a report on Wednesday, February 28th. Oppenheimer dropped their price objective on Fulcrum Therapeutics from $16.00 to $14.00 and set an outperform rating for the company in a report on Tuesday, May 14th. HC Wainwright reiterated a buy rating and issued a $17.00 target price on shares of Fulcrum Therapeutics in a research note on Tuesday, May 14th. Finally, Royal Bank of Canada started coverage on shares of Fulcrum Therapeutics in a research note on Wednesday, March 13th. They set an outperform rating and a $14.00 target price for the company. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $15.57.

Fulcrum Therapeutics Trading Down 3.8 %

Shares of NASDAQ FULC opened at $7.42 on Monday. The firm’s 50-day moving average price is $8.18 and its 200-day moving average price is $7.47. Fulcrum Therapeutics has a 12-month low of $2.65 and a 12-month high of $13.70. The stock has a market capitalization of $461.15 million, a price-to-earnings ratio of -4.64 and a beta of 2.35.

Fulcrum Therapeutics (NASDAQ:FULC) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.04. The company had revenue of $0.87 million for the quarter, compared to analyst estimates of $0.65 million. Fulcrum Therapeutics had a negative return on equity of 40.60% and a negative net margin of 3,470.05%. On average, equities analysts predict that Fulcrum Therapeutics will post -1.32 EPS for the current fiscal year.

Insider Activity at Fulcrum Therapeutics

In other Fulcrum Therapeutics news, VP Greg Tourangeau sold 4,884 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $11.72, for a total transaction of $57,240.48. Following the transaction, the vice president now directly owns 11,807 shares in the company, valued at approximately $138,378.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Fulcrum Therapeutics

Hedge funds have recently bought and sold shares of the stock. Hudson Bay Capital Management LP bought a new position in shares of Fulcrum Therapeutics in the 3rd quarter worth $872,000. ClariVest Asset Management LLC purchased a new stake in shares of Fulcrum Therapeutics during the third quarter valued at about $464,000. FMR LLC lifted its position in shares of Fulcrum Therapeutics by 7.6% during the third quarter. FMR LLC now owns 5,975,416 shares of the company’s stock valued at $26,531,000 after buying an additional 421,676 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Fulcrum Therapeutics in the 3rd quarter worth approximately $268,000. Finally, Jump Financial LLC bought a new position in shares of Fulcrum Therapeutics during the 3rd quarter worth approximately $408,000. Hedge funds and other 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.