Jacobs Levy Equity Management Inc. Invests $721,000 in Fulcrum Therapeutics, Inc. (NASDAQ:FULC)

Jacobs Levy Equity Management Inc. purchased a new stake in Fulcrum Therapeutics, Inc. (NASDAQ:FULC) in the third quarter, Holdings Channel reports. The firm purchased 202,030 shares of the company’s stock, valued at approximately $721,000.

Several other institutional investors and hedge funds have also made changes to their positions in FULC. National Bank of Canada FI lifted its position in shares of Fulcrum Therapeutics by 869.6% in the 2nd quarter. National Bank of Canada FI now owns 4,460 shares of the company’s stock worth $28,000 after buying an additional 4,000 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Fulcrum Therapeutics by 64.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 12,002 shares of the company’s stock worth $43,000 after acquiring an additional 4,701 shares during the period. Walleye Capital LLC bought a new position in Fulcrum Therapeutics in the third quarter worth about $59,000. Intech Investment Management LLC acquired a new position in Fulcrum Therapeutics in the third quarter valued at approximately $62,000. Finally, Profund Advisors LLC bought a new position in shares of Fulcrum Therapeutics during the second quarter valued at approximately $68,000. 89.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FULC. Bank of America lowered Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $10.00 to $2.00 in a research report on Thursday, September 12th. Cantor Fitzgerald downgraded shares of Fulcrum Therapeutics from an “overweight” rating to a “neutral” rating in a report on Thursday, September 12th. Leerink Partners reaffirmed a “market perform” rating and issued a $4.00 price objective on shares of Fulcrum Therapeutics in a report on Thursday, September 12th. Leerink Partnrs downgraded shares of Fulcrum Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Stifel Nicolaus cut shares of Fulcrum Therapeutics from a “buy” rating to a “hold” rating and decreased their target price for the stock from $22.00 to $3.00 in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.33.

Fulcrum Therapeutics Stock Up 0.5 %

Shares of FULC stock opened at $4.01 on Tuesday. The stock has a 50-day simple moving average of $3.47 and a 200 day simple moving average of $6.03. Fulcrum Therapeutics, Inc. has a fifty-two week low of $2.86 and a fifty-two week high of $13.70. The stock has a market capitalization of $216.30 million, a P/E ratio of -12.94 and a beta of 2.14.

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.