Fulcrum Therapeutics (NASDAQ:FULC) Downgraded by Leerink Partnrs to Hold

Leerink Partnrs cut shares of Fulcrum Therapeutics (NASDAQ:FULC) from a strong-buy rating to a hold rating in a research note released on Thursday morning, Zacks.com reports.

Several other equities analysts also recently weighed in on FULC. Cantor Fitzgerald downgraded Fulcrum Therapeutics from an overweight rating to a neutral rating in a research report on Thursday. HC Wainwright reissued a buy rating and set a $17.00 price target on shares of Fulcrum Therapeutics in a research report on Thursday, August 1st. Royal Bank of Canada downgraded Fulcrum Therapeutics from an outperform rating to a sector perform rating and lowered their price target for the company from $15.00 to $4.00 in a research report on Thursday. Stifel Nicolaus cut Fulcrum Therapeutics from a buy rating to a hold rating and reduced their price objective for the stock from $22.00 to $3.00 in a research note on Thursday. Finally, Leerink Partners restated a market perform rating and set a $4.00 price objective on shares of Fulcrum Therapeutics in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $9.33.

Fulcrum Therapeutics Price Performance

FULC opened at $3.18 on Thursday. The business has a 50 day simple moving average of $8.41 and a 200-day simple moving average of $8.26. The stock has a market capitalization of $197.65 million, a P/E ratio of -1.99 and a beta of 2.23. Fulcrum Therapeutics has a 12 month low of $2.87 and a 12 month high of $13.70.

Fulcrum Therapeutics (NASDAQ:FULC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.87 earnings per share (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 analysts’ expectations 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 previous year, the firm posted ($0.38) earnings per share. Research analysts anticipate that Fulcrum Therapeutics will post -0.48 EPS for the current year.

Institutional Trading of Fulcrum Therapeutics

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