Fulcrum Therapeutics (NASDAQ:FULC) Shares Gap Up to $8.54

Fulcrum Therapeutics, Inc. (NASDAQ:FULC)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $8.54, but opened at $8.90. Fulcrum Therapeutics shares last traded at $9.29, with a volume of 151,463 shares traded.

Analyst Ratings Changes

Several analysts have issued reports on FULC shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price target on shares of Fulcrum Therapeutics in a research note on Wednesday, July 10th. Bank of America upgraded shares of Fulcrum Therapeutics from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $5.00 to $10.00 in a report on Monday. HC Wainwright reiterated a “buy” rating and set a $17.00 price objective on shares of Fulcrum Therapeutics in a research note on Thursday, August 1st. Finally, Oppenheimer decreased their price objective on shares of Fulcrum Therapeutics from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.43.

Fulcrum Therapeutics Price Performance

The company’s 50-day moving average price is $8.47 and its two-hundred day moving average price is $8.36. The company has a market capitalization of $523.96 million, a P/E ratio of -5.27 and a beta of 2.23.

Fulcrum Therapeutics (NASDAQ:FULC) last posted its earnings results on Wednesday, July 31st. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.93. Fulcrum Therapeutics had a negative return on equity of 8.28% and a negative net margin of 3,470.05%. The company had revenue of $80.00 million during the quarter, compared to the consensus estimate of $80.00 million. During the same quarter last year, the firm earned ($0.38) earnings per share. On average, analysts anticipate that Fulcrum Therapeutics, Inc. will post -0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fulcrum Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. National Bank of Canada FI lifted its position in shares of Fulcrum Therapeutics by 869.6% during the 2nd quarter. National Bank of Canada FI now owns 4,460 shares of the company’s stock valued at $28,000 after acquiring an additional 4,000 shares during the period. Capstone Investment Advisors LLC acquired a new position in Fulcrum Therapeutics in the fourth quarter valued at about $68,000. Profund Advisors LLC bought a new stake in Fulcrum Therapeutics during the second quarter worth about $68,000. China Universal Asset Management Co. Ltd. grew its stake in Fulcrum Therapeutics by 66.7% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,916 shares of the company’s stock worth $112,000 after buying an additional 4,766 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Fulcrum Therapeutics during the first quarter worth about $115,000. 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.