Mass General Brigham Inc Purchases New Shares in Fulcrum Therapeutics, Inc. (NASDAQ:FULC)

Mass General Brigham Inc purchased a new stake in shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 205,356 shares of the company’s stock, valued at approximately $1,939,000. Fulcrum Therapeutics accounts for 3.4% of Mass General Brigham Inc’s holdings, making the stock its 5th biggest position. Mass General Brigham Inc owned approximately 0.33% of Fulcrum Therapeutics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its position in shares of Fulcrum Therapeutics by 348.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,150 shares of the company’s stock valued at $48,000 after purchasing an additional 5,556 shares during the period. Capstone Investment Advisors LLC acquired a new stake in shares of Fulcrum Therapeutics in the fourth quarter valued at about $68,000. Brown Wealth Management LLC acquired a new stake in shares of Fulcrum Therapeutics in the third quarter valued at about $111,000. Algert Global LLC acquired a new stake in shares of Fulcrum Therapeutics in the third quarter valued at about $138,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Fulcrum Therapeutics in the third quarter valued at about $268,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Fulcrum Therapeutics Stock Performance

NASDAQ:FULC traded down $0.51 on Wednesday, hitting $6.49. The stock had a trading volume of 685,726 shares, compared to its average volume of 514,570. The company has a fifty day moving average price of $7.57 and a two-hundred day moving average price of $7.95. Fulcrum Therapeutics, Inc. has a 1-year low of $2.95 and a 1-year high of $13.70.

Fulcrum Therapeutics (NASDAQ:FULC) last posted its earnings results on Monday, May 13th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.01. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 40.60%. Analysts forecast that Fulcrum Therapeutics, Inc. will post -1.24 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FULC. HC Wainwright reiterated a “buy” rating and issued a $17.00 target price on shares of Fulcrum Therapeutics in a research report on Tuesday, May 14th. Cantor Fitzgerald assumed coverage on shares of Fulcrum Therapeutics in a research note on Monday, May 20th. They issued an “overweight” rating and a $23.00 price target on the stock. The Goldman Sachs Group raised shares of Fulcrum Therapeutics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $6.00 to $15.00 in a research note on Monday, May 13th. Oppenheimer decreased their price target on shares of Fulcrum Therapeutics from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 14th. Finally, Piper Sandler raised their price target on shares of Fulcrum Therapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $15.57.

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.