Bank of New York Mellon Corp Makes New $1.16 Million Investment in Fulcrum Therapeutics, Inc. (NASDAQ:FULC)

Bank of New York Mellon Corp acquired a new stake in Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 186,727 shares of the company's stock, valued at approximately $1,158,000. Bank of New York Mellon Corp owned approximately 0.30% of Fulcrum Therapeutics at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Fulcrum Therapeutics by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,538,665 shares of the company's stock valued at $23,965,000 after buying an additional 18,681 shares during the period. Vestal Point Capital LP bought a new position in shares of Fulcrum Therapeutics during the 4th quarter valued at $6,919,000. ADAR1 Capital Management LLC bought a new position in shares of Fulcrum Therapeutics during the 4th quarter valued at $4,302,000. Jane Street Group LLC lifted its holdings 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 valued at $5,051,000 after buying an additional 188,212 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of Fulcrum Therapeutics during the 2nd quarter valued at $3,084,000. 89.83% of the stock is owned by institutional investors.

Fulcrum Therapeutics Stock Down 2.6 %

NASDAQ:FULC traded down $0.09 on Friday, reaching $3.36. 1,956,784 shares of the company's stock traded hands, compared to its average volume of 994,248. The stock has a 50-day simple moving average of $8.04 and a 200-day simple moving average of $8.01. The firm has a market cap of $208.84 million, a PE ratio of -2.10 and a beta of 2.23. Fulcrum Therapeutics, Inc. has a 12 month low of $2.87 and a 12 month high of $13.70.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.87 EPS for the quarter, topping 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 company had revenue of $80.00 million for the quarter, compared to analysts' expectations of $80.00 million. During the same period in the previous year, the firm earned ($0.38) EPS. On average, equities analysts anticipate that Fulcrum Therapeutics, Inc. will post -0.48 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Leerink Partners reissued a "market perform" rating and set a $4.00 price target on shares of Fulcrum Therapeutics in a report on Thursday, September 12th. Bank of America cut Fulcrum Therapeutics from a "neutral" rating to an "underperform" rating and lowered their price target for the company from $10.00 to $2.00 in a report on Thursday, September 12th. HC Wainwright cut Fulcrum Therapeutics from a "buy" rating to a "neutral" rating and lowered their price target for the company from $17.00 to $4.00 in a report on Friday, September 13th. Cantor Fitzgerald lowered Fulcrum Therapeutics from an "overweight" rating to a "neutral" rating in a research note on Thursday, September 12th. Finally, Stifel Nicolaus lowered Fulcrum Therapeutics from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $22.00 to $3.00 in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $9.33.

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.