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

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) was downgraded by research analysts at Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a research note issued on Thursday, Briefing.com reports. They currently have a $4.00 price target on the stock, down from their prior price target of $15.00. Royal Bank of Canada's price target points to a potential upside of 13.96% from the stock's previous close.

A number of other equities analysts also recently commented on FULC. Stifel Nicolaus downgraded Fulcrum Therapeutics from a "buy" rating to a "hold" rating and decreased their target price for the company from $22.00 to $3.00 in a research note on Thursday. Bank of America downgraded Fulcrum Therapeutics from a "neutral" rating to an "underperform" rating and lowered their price objective for the stock from $10.00 to $2.00 in a research note on Thursday. HC Wainwright reiterated a "buy" rating and issued a $17.00 target price on shares of Fulcrum Therapeutics in a research note on Thursday, August 1st. Leerink Partners restated a "market perform" rating and set a $4.00 price target on shares of Fulcrum Therapeutics in a research report on Thursday. Finally, Cantor Fitzgerald downgraded shares of Fulcrum Therapeutics from an "overweight" rating to a "neutral" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $10.78.

Fulcrum Therapeutics Trading Down 60.3 %

NASDAQ FULC traded down $5.34 during mid-day trading on Thursday, reaching $3.51. 33,123,586 shares of the company's stock traded hands, compared to its average volume of 910,336. Fulcrum Therapeutics has a 1-year low of $2.87 and a 1-year high of $13.70. The company has a fifty day simple moving average of $8.52 and a 200-day simple moving average of $8.36. The company has a market cap of $218.16 million, a price-to-earnings ratio of -2.19 and a beta of 2.23.

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

Hedge Funds Weigh In On Fulcrum Therapeutics

A number of large investors have recently made changes to their positions in the business. National Bank of Canada FI increased its position in Fulcrum Therapeutics by 869.6% in the 2nd quarter. National Bank of Canada FI now owns 4,460 shares of the company's stock worth $28,000 after purchasing an additional 4,000 shares during the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of Fulcrum Therapeutics in the 4th quarter valued at approximately $68,000. Profund Advisors LLC bought a new stake in shares of Fulcrum Therapeutics in the 2nd quarter valued at approximately $68,000. China Universal Asset Management Co. Ltd. increased its holdings in Fulcrum Therapeutics by 66.7% in the first quarter. China Universal Asset Management Co. Ltd. now owns 11,916 shares of the company's stock worth $112,000 after buying an additional 4,766 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Fulcrum Therapeutics during the first quarter valued at approximately $115,000. 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.

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