Stock Traders Buy Large Volume of Call Options on Fulcrum Therapeutics (NASDAQ:FULC)

Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Traders purchased 30,075 call options on the stock. This is an increase of 1,522% compared to the typical daily volume of 1,854 call options.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Stifel Nicolaus lowered shares of Fulcrum Therapeutics from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $22.00 to $3.00 in a report on Thursday, September 12th. Bank of America lowered Fulcrum Therapeutics from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $10.00 to $2.00 in a report on Thursday, September 12th. Royal Bank of Canada downgraded Fulcrum Therapeutics from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from $15.00 to $4.00 in a report on Thursday, September 12th. HC Wainwright lowered Fulcrum Therapeutics from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $17.00 to $4.00 in a research report on Friday, September 13th. Finally, Cantor Fitzgerald lowered Fulcrum Therapeutics from an "overweight" rating to a "neutral" rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $9.33.

Fulcrum Therapeutics Price Performance

NASDAQ:FULC traded down $0.13 during midday trading on Wednesday, reaching $3.41. 542,608 shares of the company traded hands, compared to its average volume of 1,028,639. Fulcrum Therapeutics has a twelve month low of $2.87 and a twelve month high of $13.70. The company has a fifty day moving average price of $6.86 and a 200 day moving average price of $7.39. The firm has a market capitalization of $211.95 million, a price-to-earnings ratio of -2.13 and a beta of 2.21.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.87 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $80.00 million. During the same quarter in the previous year, the company posted ($0.38) earnings per share. On average, equities research analysts forecast that Fulcrum Therapeutics will post -0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FULC. Vanguard Group Inc. increased its holdings in shares of Fulcrum Therapeutics by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,538,665 shares of the company's stock valued at $23,965,000 after purchasing an additional 18,681 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Fulcrum Therapeutics by 13.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,480,926 shares of the company's stock worth $9,182,000 after buying an additional 176,114 shares in the last quarter. ADAR1 Capital Management LLC bought a new stake in shares of Fulcrum Therapeutics during the 4th quarter worth about $4,302,000. Jane Street Group LLC lifted its stake in shares of Fulcrum Therapeutics by 54.3% in the 1st quarter. Jane Street Group LLC now owns 535,062 shares of the company's stock worth $5,051,000 after acquiring an additional 188,212 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of Fulcrum Therapeutics in the second quarter valued at approximately $3,084,000. 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.