Fulcrum Therapeutics (NASDAQ:FULC) Shares Cross Above Fifty Day Moving Average – Should You Sell?

Shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC) crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $3.76 and traded as high as $3.80. Fulcrum Therapeutics shares last traded at $3.77, with a volume of 1,620,682 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Fulcrum Therapeutics in a report on Thursday, October 15th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $8.20.

Fulcrum Therapeutics Stock Down 1.6%

The company has a market cap of $283.07 million, a price-to-earnings ratio of -3.07 and a beta of 2.63. The stock’s 50-day simple moving average is $3.76 and its 200 day simple moving average is $5.89.

Fulcrum Therapeutics (NASDAQ:FULC) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.10). On average, sell-side analysts expect that Fulcrum Therapeutics, Inc. will post -0.60 EPS for the current fiscal year.

Institutional Trading of Fulcrum Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Fulcrum Therapeutics during the second quarter worth about $32,297,000. Bank of New York Mellon Corp purchased a new position in shares of Fulcrum Therapeutics in the second quarter valued at approximately $566,000. Bank of America Corp DE purchased a new position in shares of Fulcrum Therapeutics in the second quarter valued at approximately $3,817,000. Siren L.L.C. grew its holdings in shares of Fulcrum Therapeutics by 20.5% in the first quarter. Siren L.L.C. now owns 2,350,000 shares of the company’s stock valued at $18,024,000 after purchasing an additional 400,000 shares in the last quarter. Finally, Nantahala Capital Management LLC acquired a new position in shares of Fulcrum Therapeutics in the second quarter valued at approximately $20,038,646. Hedge funds and other institutional investors own 89.83% of the company’s stock.

About Fulcrum Therapeutics

Fulcrum Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for genetically driven diseases. The company’s research approach is based on selectively modulating gene expression to address the underlying biology of disease rather than targeting individual symptoms.

Fulcrum’s lead investigational program is losmapimod, an oral small-molecule therapy being developed for facioscapulohumeral muscular dystrophy (FSHD), a rare and progressive genetic muscle disorder.