Fulcrum Therapeutics (NASDAQ:FULC) Shares Gap Up to $8.54

Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $8.54, but opened at $8.90. Fulcrum Therapeutics shares last traded at $9.29, with a volume of 151,463 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FULC shares. Bank of America upgraded Fulcrum Therapeutics from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $5.00 to $10.00 in a report on Monday. HC Wainwright restated a "buy" rating and issued a $17.00 target price on shares of Fulcrum Therapeutics in a report on Thursday, August 1st. Oppenheimer lowered their price target on Fulcrum Therapeutics from $16.00 to $14.00 and set an "outperform" rating on the stock in a report on Tuesday, May 14th. The Goldman Sachs Group upgraded Fulcrum Therapeutics from a "neutral" rating to a "buy" rating and lifted their price target for the company from $6.00 to $15.00 in a report on Monday, May 13th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $23.00 price target on shares of Fulcrum Therapeutics in a report on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Fulcrum Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $15.43.

Fulcrum Therapeutics Price Performance

The business has a 50 day simple moving average of $8.38 and a 200 day simple moving average of $8.38. The stock has a market cap of $536.39 million, a PE ratio of -5.81 and a beta of 2.23.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last issued 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 the consensus estimate of $80.00 million. During the same quarter in the previous year, the company posted ($0.38) earnings per share. As a group, sell-side analysts forecast that Fulcrum Therapeutics, Inc. will post -0.48 earnings per share for the current fiscal year.

Institutional Trading of Fulcrum Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in FULC. Vestal Point Capital LP acquired a new stake in shares of Fulcrum Therapeutics in the fourth quarter worth about $6,919,000. ADAR1 Capital Management LLC acquired a new position in shares of Fulcrum Therapeutics during the 4th quarter worth about $4,302,000. Assenagon Asset Management S.A. acquired a new position in shares of Fulcrum Therapeutics during the 2nd quarter worth about $3,084,000. Mass General Brigham Inc acquired a new position in shares of Fulcrum Therapeutics during the 1st quarter worth about $1,939,000. Finally, Jane Street Group LLC lifted its position in shares of Fulcrum Therapeutics by 54.3% during the 1st quarter. Jane Street Group LLC now owns 535,062 shares of the company's stock worth $5,051,000 after purchasing an additional 188,212 shares during the last quarter. 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.