HC Wainwright Reiterates Neutral Rating for Fulcrum Therapeutics (NASDAQ:FULC)

Fulcrum Therapeutics (NASDAQ:FULC)‘s stock had its “neutral” rating reissued by analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $4.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 18.69% from the stock’s current price. HC Wainwright also issued estimates for Fulcrum Therapeutics’ FY2029 earnings at ($0.95) EPS.

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $4.00 target price on shares of Fulcrum Therapeutics in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.33.

Fulcrum Therapeutics Price Performance

Shares of NASDAQ:FULC opened at $3.37 on Wednesday. The company’s fifty day moving average price is $4.12 and its 200-day moving average price is $4.61. The firm has a market capitalization of $181.77 million, a price-to-earnings ratio of -10.87 and a beta of 2.03. Fulcrum Therapeutics has a one year low of $2.86 and a one year high of $13.70.

Fulcrum Therapeutics (NASDAQ:FULC) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.03). As a group, equities research analysts expect that Fulcrum Therapeutics will post -0.16 EPS for the current year.

Hedge Funds Weigh In On Fulcrum Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Suvretta Capital Management LLC boosted its holdings in shares of Fulcrum Therapeutics by 182.3% in the fourth quarter. Suvretta Capital Management LLC now owns 3,338,466 shares of the company’s stock worth $15,691,000 after buying an additional 2,155,675 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of Fulcrum Therapeutics by 50.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,000,000 shares of the company’s stock valued at $14,100,000 after acquiring an additional 1,000,000 shares during the period. State Street Corp increased its holdings in Fulcrum Therapeutics by 61.4% in the 3rd quarter. State Street Corp now owns 1,680,229 shares of the company’s stock worth $5,998,000 after acquiring an additional 638,955 shares in the last quarter. Woodline Partners LP raised its stake in Fulcrum Therapeutics by 110.3% during the 4th quarter. Woodline Partners LP now owns 1,410,520 shares of the company’s stock worth $6,629,000 after acquiring an additional 739,713 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Fulcrum Therapeutics by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,320,862 shares of the company’s stock valued at $4,716,000 after buying an additional 13,485 shares in the last quarter. 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.