Simplify Asset Management Inc. Sells 323,518 Shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC)

Simplify Asset Management Inc. lessened its holdings in Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Free Report) by 47.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 351,314 shares of the company's stock after selling 323,518 shares during the period. Simplify Asset Management Inc. owned about 0.56% of Fulcrum Therapeutics worth $1,254,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new stake in shares of Fulcrum Therapeutics during the second quarter valued at approximately $3,084,000. Jane Street Group LLC increased its holdings in shares of Fulcrum Therapeutics by 54.3% during the first quarter. Jane Street Group LLC now owns 535,062 shares of the company's stock valued at $5,051,000 after acquiring an additional 188,212 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Fulcrum Therapeutics during the second quarter valued at approximately $1,158,000. Dimensional Fund Advisors LP increased its holdings in shares of Fulcrum Therapeutics by 13.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,480,926 shares of the company's stock valued at $9,182,000 after acquiring an additional 176,114 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Fulcrum Therapeutics by 47.7% during the second quarter. Marshall Wace LLP now owns 333,161 shares of the company's stock valued at $2,066,000 after acquiring an additional 107,588 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on FULC. Royal Bank of Canada reiterated a "sector perform" rating and set a $4.00 price target on shares of Fulcrum Therapeutics in a report on Thursday. Cantor Fitzgerald cut Fulcrum Therapeutics from an "overweight" rating to a "neutral" rating in a report on Thursday, September 12th. Leerink Partnrs cut Fulcrum Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 12th. Bank of America cut Fulcrum Therapeutics from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $10.00 to $2.00 in a report on Thursday, September 12th. Finally, HC Wainwright reissued a "neutral" rating and set a $4.00 price objective on shares of Fulcrum Therapeutics in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $9.33.

Fulcrum Therapeutics Trading Down 9.5 %

NASDAQ FULC traded down $0.31 on Friday, hitting $3.01. The company's stock had a trading volume of 1,275,404 shares, compared to its average volume of 990,233. Fulcrum Therapeutics, Inc. has a 52-week low of $2.87 and a 52-week high of $13.70. The company's 50-day simple moving average is $3.86 and its 200 day simple moving average is $6.51. The firm has a market cap of $187.51 million, a P/E ratio of -9.84 and a beta of 2.24.

Fulcrum Therapeutics 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.