186,727 Shares in Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp bought a new stake in Fulcrum Therapeutics, Inc. (NASDAQ:FULC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 186,727 shares of the company’s stock, valued at approximately $1,158,000. Bank of New York Mellon Corp owned about 0.30% of Fulcrum Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of FULC. Capstone Investment Advisors LLC purchased a new stake in shares of Fulcrum Therapeutics in the 4th quarter worth about $68,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Fulcrum Therapeutics by 66.7% in the first quarter. China Universal Asset Management Co. Ltd. now owns 11,916 shares of the company’s stock valued at $112,000 after purchasing an additional 4,766 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Fulcrum Therapeutics in the first quarter valued at approximately $115,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Fulcrum Therapeutics during the 1st quarter worth approximately $308,000. Finally, Affinity Asset Advisors LLC acquired a new position in shares of Fulcrum Therapeutics during the 4th quarter worth approximately $844,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FULC. Bank of America cut Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $10.00 to $2.00 in a report on Thursday, September 12th. Leerink Partnrs lowered Fulcrum Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 12th. Royal Bank of Canada cut Fulcrum Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $15.00 to $4.00 in a research report on Thursday, September 12th. HC Wainwright lowered shares of Fulcrum Therapeutics from a “buy” rating to a “neutral” rating and reduced their target price for the company from $17.00 to $4.00 in a report on Friday, September 13th. Finally, Stifel Nicolaus downgraded shares of Fulcrum Therapeutics from a “buy” rating to a “hold” rating and lowered their price target for the stock from $22.00 to $3.00 in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Fulcrum Therapeutics has a consensus rating of “Hold” and an average price target of $9.33.

Fulcrum Therapeutics Trading Down 2.6 %

Shares of NASDAQ:FULC opened at $3.36 on Friday. The firm has a market cap of $208.84 million, a price-to-earnings ratio of -2.10 and a beta of 2.23. The stock’s 50-day moving average price is $8.04 and its two-hundred day moving average price is $8.03. Fulcrum Therapeutics, Inc. has a 12-month low of $2.87 and a 12-month high of $13.70.

Fulcrum Therapeutics (NASDAQ:FULC) last released its earnings results on Wednesday, July 31st. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.93. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 8.28%. The business had revenue of $80.00 million for the quarter, compared to analysts’ expectations of $80.00 million. During the same period last year, the company earned ($0.38) earnings per share. As a group, research analysts forecast that Fulcrum Therapeutics, Inc. will post -0.48 earnings per share for the current fiscal year.

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.