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

Fulcrum Therapeutics (NASDAQ:FULC)‘s stock had its “neutral” rating reissued by research analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They currently have a $4.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 33.11% from the company’s current price.

FULC has been the topic of several other research reports. Leerink Partnrs cut Fulcrum Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 12th. Stifel Nicolaus cut shares of Fulcrum Therapeutics from a “buy” rating to a “hold” rating and reduced their price target for the stock from $22.00 to $3.00 in a research report on Thursday, September 12th. Leerink Partners reissued a “market perform” rating and issued a $4.00 price objective on shares of Fulcrum Therapeutics in a report on Thursday, September 12th. Royal Bank of Canada cut Fulcrum Therapeutics from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $15.00 to $4.00 in a research note on Thursday, September 12th. Finally, Bank of America lowered Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $10.00 to $2.00 in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Fulcrum Therapeutics presently has a consensus rating of “Hold” and an average price target of $9.33.

Fulcrum Therapeutics Stock Performance

Shares of NASDAQ:FULC opened at $3.01 on Thursday. The company has a market cap of $187.51 million, a P/E ratio of -9.84 and a beta of 2.24. The business’s 50-day simple moving average is $3.86 and its 200 day simple moving average is $6.51. Fulcrum Therapeutics has a one year low of $2.87 and a one year high of $13.70.

Institutional Trading of Fulcrum Therapeutics

Several hedge funds have recently made changes to their positions in FULC. Braidwell LP acquired a new stake in shares of Fulcrum Therapeutics in the 3rd quarter worth about $3,817,000. State Street Corp increased its stake in shares of Fulcrum Therapeutics by 61.4% in the third quarter. State Street Corp now owns 1,680,229 shares of the company’s stock valued at $5,998,000 after purchasing an additional 638,955 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Fulcrum Therapeutics during the second quarter valued at approximately $3,084,000. Charles Schwab Investment Management Inc. boosted its position in shares of Fulcrum Therapeutics by 223.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 569,185 shares of the company’s stock worth $2,032,000 after buying an additional 393,202 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in Fulcrum Therapeutics in the 3rd quarter worth approximately $721,000. Institutional investors own 89.83% of the company’s stock.

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.