Fulcrum Therapeutics (NASDAQ:FULC) Stock Price Up 8.1%

Shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC) rose 8.1% during trading on Monday . The company traded as high as $8.67 and last traded at $8.66. Approximately 521,351 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 708,562 shares. The stock had previously closed at $8.01.

Analysts Set New Price Targets

FULC has been the subject of a number of research reports. Oppenheimer dropped their target price on shares of 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 price objective on shares of Fulcrum Therapeutics in a report on Tuesday, May 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 price objective on shares of Fulcrum Therapeutics in a report on Wednesday, July 10th. Finally, The Goldman Sachs Group upgraded shares of Fulcrum Therapeutics from a “neutral” rating to a “buy” rating and raised their price objective for the company from $6.00 to $15.00 in a report on Monday, May 13th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $15.57.

Fulcrum Therapeutics Trading Up 5.5 %

The firm has a market cap of $525.17 million, a price-to-earnings ratio of -5.28 and a beta of 2.29. The business’s 50-day simple moving average is $7.26 and its two-hundred day simple moving average is $8.09.

Fulcrum Therapeutics (NASDAQ:FULC) last released its earnings results on Monday, May 13th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.01. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 40.60%. On average, analysts forecast that Fulcrum Therapeutics, Inc. will post -1.24 earnings per share 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. China Universal Asset Management Co. Ltd. increased its position in Fulcrum Therapeutics by 348.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,150 shares of the company’s stock valued at $48,000 after purchasing an additional 5,556 shares during the period. Capstone Investment Advisors LLC acquired a new stake in shares of Fulcrum Therapeutics during the 4th quarter worth approximately $68,000. SG Americas Securities LLC acquired a new stake in shares of Fulcrum Therapeutics during the 1st quarter worth approximately $115,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Fulcrum Therapeutics during the 1st quarter worth approximately $308,000. Finally, Citigroup Inc. grew its position in shares of Fulcrum Therapeutics by 1,028.5% during the 3rd quarter. Citigroup Inc. now owns 89,189 shares of the company’s stock worth $396,000 after buying an additional 81,286 shares during the period. 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.