Fulcrum Therapeutics (NASDAQ:FULC) Stock Rating Lowered by HC Wainwright

Fulcrum Therapeutics (NASDAQ:FULC) was downgraded by equities researchers at HC Wainwright from a “buy” rating to a “neutral” rating in a research report issued on Friday, Marketbeat.com reports. They presently have a $4.00 price objective on the stock, down from their prior price objective of $17.00. HC Wainwright’s price target would indicate a potential upside of 25.79% from the company’s current price.

FULC has been the topic of several other research reports. Cantor Fitzgerald lowered shares of Fulcrum Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Thursday. Royal Bank of Canada lowered shares of Fulcrum Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $15.00 to $4.00 in a research report on Thursday. Leerink Partners restated a “market perform” rating and issued a $4.00 price target on shares of Fulcrum Therapeutics in a research report on Thursday. Leerink Partnrs lowered shares of Fulcrum Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Finally, Bank of America cut shares of Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $10.00 to $2.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $9.33.

Fulcrum Therapeutics Price Performance

NASDAQ FULC opened at $3.18 on Friday. Fulcrum Therapeutics has a 12 month low of $2.87 and a 12 month high of $13.70. The firm has a market capitalization of $197.65 million, a PE ratio of -1.99 and a beta of 2.23. The company’s 50 day simple moving average is $8.41 and its 200 day simple moving average is $8.27.

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

Institutional Investors Weigh In On Fulcrum Therapeutics

A number of institutional investors have recently modified their holdings of FULC. Vestal Point Capital LP acquired a new stake in shares of Fulcrum Therapeutics during the 4th quarter valued at $6,919,000. ADAR1 Capital Management LLC acquired a new stake in shares of Fulcrum Therapeutics during the 4th quarter valued at $4,302,000. Assenagon Asset Management S.A. acquired a new stake in shares of Fulcrum Therapeutics during the 2nd quarter valued at $3,084,000. Mass General Brigham Inc acquired a new stake in shares of Fulcrum Therapeutics during the 1st quarter valued at $1,939,000. Finally, Jane Street Group LLC boosted its stake in shares of Fulcrum Therapeutics by 54.3% during the 1st quarter. Jane Street Group LLC now owns 535,062 shares of the company’s stock valued at $5,051,000 after buying an additional 188,212 shares during the period. Institutional investors and hedge funds 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.