Fulcrum Therapeutics (NASDAQ:FULC) Downgraded by Royal Bank of Canada

Royal Bank of Canada lowered shares of Fulcrum Therapeutics (NASDAQ:FULC) from an outperform rating to a sector perform rating in a research report released on Thursday, MarketBeat.com reports. The brokerage currently has $4.00 price objective on the stock, down from their previous price objective of $15.00.

FULC has been the subject 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. Leerink Partners reissued a market perform rating and issued a $4.00 price target on shares of Fulcrum Therapeutics in a research report on Thursday. HC Wainwright reissued a buy rating and issued a $17.00 price target on shares of Fulcrum Therapeutics in a research report on Thursday, August 1st. Stifel Nicolaus lowered shares of Fulcrum Therapeutics from a buy rating to a hold rating and dropped their price target for the stock from $22.00 to $3.00 in a research report on Thursday. Finally, Bank of America lowered shares of Fulcrum Therapeutics from a neutral rating to an underperform rating and dropped their price target for the stock from $10.00 to $2.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $9.33.

Fulcrum Therapeutics Stock Performance

Shares of FULC opened at $3.18 on Thursday. The company has a 50-day simple moving average of $8.41 and a 200-day simple moving average of $8.26. The firm 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 52 week low of $2.87 and a 52 week high of $13.70.

Fulcrum Therapeutics (NASDAQ:FULC) last announced 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. The business had revenue of $80.00 million during the quarter, compared to analyst estimates of $80.00 million. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 8.28%. During the same quarter in the prior year, the business earned ($0.38) earnings per share. As a group, equities analysts forecast that Fulcrum Therapeutics will post -0.48 earnings per share for the current year.

Institutional Trading of Fulcrum Therapeutics

Several large investors have recently added to or reduced their stakes in FULC. Capstone Investment Advisors LLC bought a new stake in Fulcrum Therapeutics during the fourth quarter worth about $68,000. Affinity Asset Advisors LLC bought a new stake in shares of Fulcrum Therapeutics during the fourth quarter valued at approximately $844,000. Vestal Point Capital LP bought a new stake in shares of Fulcrum Therapeutics during the fourth quarter valued at approximately $6,919,000. ADAR1 Capital Management LLC bought a new stake in shares of Fulcrum Therapeutics during the fourth quarter valued at approximately $4,302,000. Finally, Opaleye Management Inc. bought a new stake in shares of Fulcrum Therapeutics during the fourth quarter valued at approximately $878,000. 89.83% of the stock is owned by institutional investors.

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.