Fulcrum Therapeutics (NASDAQ:FULC) Downgraded to Neutral at HC Wainwright

HC Wainwright downgraded shares of Fulcrum Therapeutics (NASDAQ:FULC) from a buy rating to a neutral rating in a report released on Friday, MarketBeat.com reports. They currently have $4.00 price target on the stock, down from their prior price target of $17.00.

Several other analysts also recently commented on FULC. Stifel Nicolaus downgraded Fulcrum Therapeutics from a buy rating to a hold rating and lowered their price objective for the stock from $22.00 to $3.00 in a research note on Thursday, September 12th. Leerink Partners reaffirmed a market perform rating and issued a $4.00 target price on shares of Fulcrum Therapeutics in a report on Thursday, September 12th. Cantor Fitzgerald lowered Fulcrum Therapeutics from an overweight rating to a neutral rating in a report on Thursday, September 12th. Bank of America lowered Fulcrum Therapeutics from a neutral rating to an underperform rating and reduced their target price for the company from $10.00 to $2.00 in a report on Thursday, September 12th. Finally, Leerink Partnrs lowered Fulcrum Therapeutics from a strong-buy rating to a hold rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fulcrum Therapeutics presently has a consensus rating of Hold and an average price target of $9.33.

Fulcrum Therapeutics Stock Performance

FULC stock opened at $3.18 on Friday. The company has a market cap of $197.65 million, a P/E ratio of -1.99 and a beta of 2.23. Fulcrum Therapeutics has a fifty-two week low of $2.87 and a fifty-two week high of $13.70. The stock’s 50 day simple moving average is $8.35 and its 200 day simple moving average is $8.21.

Fulcrum Therapeutics (NASDAQ:FULC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.87 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.93. The firm had revenue of $80.00 million during the quarter, compared to the consensus estimate of $80.00 million. Fulcrum Therapeutics had a negative return on equity of 8.28% and a negative net margin of 3,470.05%. During the same period in the prior year, the business posted ($0.38) earnings per share. Equities analysts predict that Fulcrum Therapeutics will post -0.48 earnings per share for the current year.

Hedge Funds Weigh In On Fulcrum Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. National Bank of Canada FI grew its holdings in Fulcrum Therapeutics by 869.6% during the second quarter. National Bank of Canada FI now owns 4,460 shares of the company’s stock valued at $28,000 after purchasing an additional 4,000 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in shares of 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 acquiring an additional 4,766 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of Fulcrum Therapeutics during the fourth quarter worth $68,000. Profund Advisors LLC purchased a new stake in shares of Fulcrum Therapeutics during the second quarter worth $68,000. Finally, American Century Companies Inc. lifted its position in shares of Fulcrum Therapeutics by 13.2% during the second quarter. American Century Companies Inc. now owns 104,371 shares of the company’s stock worth $647,000 after acquiring an additional 12,167 shares in the last quarter. 89.83% of the stock is owned by institutional investors.

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.