Royal Bank of Canada Downgrades Fulcrum Therapeutics (NASDAQ:FULC) to Sector Perform

Royal Bank of Canada cut shares of Fulcrum Therapeutics (NASDAQ:FULC) from an outperform rating to a sector perform rating in a research report sent to investors on Thursday morning, Marketbeat reports. Royal Bank of Canada currently has $4.00 target price on the stock, down from their previous target price of $15.00.

Other analysts have also issued reports about the stock. Stifel Nicolaus lowered shares of Fulcrum Therapeutics from a buy rating to a hold rating and decreased their price target for the stock from $22.00 to $3.00 in a research report on Thursday. Leerink Partners reaffirmed a market perform rating and issued a $4.00 price target on shares of Fulcrum Therapeutics in a report on Thursday. HC Wainwright reissued a buy rating and set a $17.00 price objective on shares of Fulcrum Therapeutics in a report on Thursday, August 1st. Cantor Fitzgerald lowered Fulcrum Therapeutics from an overweight rating to a neutral rating in a research note on Thursday. Finally, Bank of America downgraded shares of Fulcrum Therapeutics from a neutral rating to an underperform rating and decreased their price target for the stock from $10.00 to $2.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $9.33.

Fulcrum Therapeutics Price Performance

FULC stock opened at $3.18 on Thursday. Fulcrum Therapeutics has a 52-week low of $2.87 and a 52-week high of $13.70. The stock has a market capitalization of $197.65 million, a price-to-earnings ratio of -1.99 and a beta of 2.23. The company has a 50-day moving average of $8.41 and a two-hundred day moving average of $8.27.

Fulcrum Therapeutics (NASDAQ:FULC) last issued 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. The company had revenue of $80.00 million during the quarter, compared to analyst estimates of $80.00 million. Fulcrum Therapeutics had a negative return on equity of 8.28% and a negative net margin of 3,470.05%. During the same period in the previous year, the company earned ($0.38) earnings per share. Equities analysts expect that Fulcrum Therapeutics will post -0.48 EPS for the current fiscal year.

Institutional Trading of Fulcrum Therapeutics

Several large investors have recently added to or reduced their stakes in the company. National Bank of Canada FI boosted its holdings 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. Capstone Investment Advisors LLC acquired a new position in Fulcrum Therapeutics in the fourth quarter worth $68,000. Profund Advisors LLC bought a new stake in shares of Fulcrum Therapeutics during the second quarter worth $68,000. Renaissance Technologies LLC acquired a new stake in shares of Fulcrum Therapeutics in the second quarter valued at $82,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in Fulcrum Therapeutics by 66.7% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,916 shares of the company’s stock worth $112,000 after buying an additional 4,766 shares in the last quarter. 89.83% of the stock is owned by institutional investors.

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.