Fulcrum Therapeutics (NASDAQ:FULC) Shares Up 8.8%

Fulcrum Therapeutics, Inc. (NASDAQ:FULC)’s share price rose 8.8% during mid-day trading on Thursday . The company traded as high as $9.94 and last traded at $9.81. Approximately 362,333 shares changed hands during trading, a decline of 50% from the average daily volume of 720,021 shares. The stock had previously closed at $9.02.

Wall Street Analysts Forecast Growth

FULC has been the topic of a number of research reports. Oppenheimer dropped their target price on shares of Fulcrum Therapeutics from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 14th. HC Wainwright reiterated a “buy” rating and set a $17.00 target price on shares of Fulcrum Therapeutics in a research report on Thursday, August 1st. The Goldman Sachs Group upgraded shares of Fulcrum Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $6.00 to $15.00 in a research report on Monday, May 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $23.00 target price on shares of Fulcrum Therapeutics in a research report on Wednesday, July 10th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $15.57.

Fulcrum Therapeutics Price Performance

The company’s fifty day simple moving average is $7.72 and its two-hundred day simple moving average is $8.33. The stock has a market cap of $602.27 million, a price-to-earnings ratio of -6.08 and a beta of 2.29.

Fulcrum Therapeutics (NASDAQ:FULC) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.43) earnings per share for the quarter, topping 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 8.28%. On average, analysts forecast that Fulcrum Therapeutics, Inc. will post -1.24 earnings per share for the current year.

Institutional Trading of Fulcrum Therapeutics

Several institutional investors have recently made changes to their positions in the company. National Bank of Canada FI grew its stake in shares of Fulcrum Therapeutics by 869.6% in the 2nd quarter. National Bank of Canada FI now owns 4,460 shares of the company’s stock worth $28,000 after acquiring an additional 4,000 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Fulcrum Therapeutics by 66.7% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,916 shares of the company’s stock valued at $112,000 after buying an additional 4,766 shares during the period. Capstone Investment Advisors LLC bought a new position in Fulcrum Therapeutics during the fourth quarter valued at about $68,000. Profund Advisors LLC bought a new position in Fulcrum Therapeutics during the second quarter valued at about $68,000. Finally, American Century Companies Inc. grew its position in Fulcrum Therapeutics by 13.2% during the second quarter. American Century Companies Inc. now owns 104,371 shares of the company’s stock valued at $647,000 after buying an additional 12,167 shares during the period. Institutional investors 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.