HC Wainwright Lowers Fulcrum Therapeutics (NASDAQ:FULC) to Neutral

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) was downgraded by equities researchers at HC Wainwright from a "buy" rating to a "neutral" rating in a research note issued on Friday, MarketBeat Ratings reports. They presently have a $4.00 price objective on the stock, down from their prior price objective of $17.00. HC Wainwright's price target would indicate a potential upside of 25.79% from the company's current price.

A number of other analysts have also recently commented on FULC. 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 report on Thursday. Stifel Nicolaus lowered shares of Fulcrum Therapeutics from a "buy" rating to a "hold" rating and cut their price target for the stock from $22.00 to $3.00 in a report on Thursday. Leerink Partnrs downgraded shares of Fulcrum Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Thursday. Cantor Fitzgerald cut shares of Fulcrum Therapeutics from an "overweight" rating to a "neutral" rating in a research note on Thursday. Finally, Bank of America lowered shares of Fulcrum Therapeutics from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $10.00 to $2.00 in a research note on Thursday. One 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $9.33.

Fulcrum Therapeutics Price Performance

FULC stock traded down $0.26 during midday trading on Friday, hitting $3.18. 7,545,023 shares of the stock traded hands, compared to its average volume of 954,362. Fulcrum Therapeutics has a 1-year low of $2.87 and a 1-year high of $13.70. The stock's fifty day simple moving average is $8.47 and its 200-day simple moving average is $8.33. The firm has a market cap of $197.65 million, a P/E ratio of -2.01 and a beta of 2.23.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.93. Fulcrum Therapeutics had a negative return on equity of 8.28% and a negative net margin of 3,470.05%. The firm had revenue of $80.00 million for the quarter, compared to analysts' expectations of $80.00 million. During the same period last year, the firm earned ($0.38) EPS. On average, research analysts predict that Fulcrum Therapeutics will post -0.48 earnings per share for the current year.

Institutional Investors Weigh In On Fulcrum Therapeutics

A number of large investors have recently made changes to their positions in FULC. National Bank of Canada FI raised its position in shares of Fulcrum Therapeutics by 869.6% during the 2nd quarter. National Bank of Canada FI now owns 4,460 shares of the company's stock valued at $28,000 after buying an additional 4,000 shares during the period. Capstone Investment Advisors LLC acquired a new stake in shares of Fulcrum Therapeutics during the 4th quarter worth about $68,000. Profund Advisors LLC purchased a new stake in Fulcrum Therapeutics in the 2nd quarter valued at about $68,000. China Universal Asset Management Co. Ltd. boosted its stake in Fulcrum Therapeutics by 66.7% during 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 period. Finally, SG Americas Securities LLC acquired a new stake in shares of Fulcrum Therapeutics during the first quarter valued at about $115,000. 89.83% of the stock is currently owned by hedge funds and other 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.