Braidwell LP Takes $3.82 Million Position in Fulcrum Therapeutics, Inc. (NASDAQ:FULC)

Braidwell LP purchased a new position in shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 1,069,158 shares of the company’s stock, valued at approximately $3,817,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. 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 valued at $28,000 after purchasing an additional 4,000 shares during the last quarter. Profund Advisors LLC purchased a new position in Fulcrum Therapeutics in the 2nd quarter valued at $68,000. China Universal Asset Management Co. Ltd. increased its stake in Fulcrum Therapeutics by 64.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,002 shares of the company’s stock valued at $43,000 after buying an additional 4,701 shares during the period. Renaissance Technologies LLC purchased a new position in Fulcrum Therapeutics during the 2nd quarter worth $82,000. Finally, Walleye Capital LLC acquired a new stake in shares of Fulcrum Therapeutics in the 3rd quarter worth $59,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Fulcrum Therapeutics Stock Performance

Fulcrum Therapeutics stock opened at $3.95 on Friday. Fulcrum Therapeutics, Inc. has a fifty-two week low of $2.86 and a fifty-two week high of $13.70. The firm has a market capitalization of $213.06 million, a price-to-earnings ratio of -12.74 and a beta of 2.24. The stock’s fifty day moving average is $3.43 and its two-hundred day moving average is $6.22.

Analyst Ratings Changes

A number of brokerages have 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 research note on Thursday, November 14th. Stifel Nicolaus cut Fulcrum Therapeutics from a “buy” rating to a “hold” rating and dropped their target price for the stock from $22.00 to $3.00 in a research report on Thursday, September 12th. Cantor Fitzgerald cut Fulcrum Therapeutics from an “overweight” rating to a “neutral” rating in a report on Thursday, September 12th. HC Wainwright reaffirmed a “neutral” rating and set a $4.00 price objective on shares of Fulcrum Therapeutics in a report on Thursday, November 14th. Finally, Bank of America downgraded Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $10.00 to $2.00 in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9.33.

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.