Fulcrum Therapeutics Sees Unusually High Options Volume (NASDAQ:FULC)

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) was the recipient of unusually large options trading on Wednesday. Investors purchased 30,075 call options on the company. This is an increase of approximately 1,522% compared to the typical volume of 1,854 call options.

Fulcrum Therapeutics Trading Down 3.7 %

FULC stock traded down $0.13 during midday trading on Wednesday, hitting $3.41. The stock had a trading volume of 210,469 shares, compared to its average volume of 1,026,897. The firm has a market capitalization of $211.95 million, a price-to-earnings ratio of -2.14 and a beta of 2.21. The stock has a 50-day simple moving average of $6.86 and a 200 day simple moving average of $7.39. Fulcrum Therapeutics has a 52 week low of $2.87 and a 52 week high of $13.70.

Fulcrum Therapeutics (NASDAQ:FULC) last posted its earnings results on Wednesday, July 31st. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.93. The business had revenue of $80.00 million for the quarter, compared to analysts’ expectations of $80.00 million. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 8.28%. During the same quarter in the previous year, the firm posted ($0.38) earnings per share. On average, equities analysts forecast that Fulcrum Therapeutics will post -0.28 EPS for the current year.

Hedge Funds Weigh In On Fulcrum Therapeutics

A number of hedge funds have recently modified their holdings of the stock. National Bank of Canada FI boosted its position in Fulcrum Therapeutics by 869.6% in the second quarter. National Bank of Canada FI now owns 4,460 shares of the company’s stock valued at $28,000 after buying an additional 4,000 shares in the last quarter. Profund Advisors LLC acquired a new position in shares of Fulcrum Therapeutics in the 2nd quarter worth approximately $68,000. Renaissance Technologies LLC acquired a new position in shares of Fulcrum Therapeutics in the 2nd quarter worth approximately $82,000. China Universal Asset Management Co. Ltd. grew 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 acquiring an additional 4,766 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Fulcrum Therapeutics in the 1st quarter valued at $115,000. 89.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Royal Bank of Canada lowered shares of Fulcrum Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $15.00 to $4.00 in a research note on Thursday, September 12th. HC Wainwright lowered Fulcrum Therapeutics from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $17.00 to $4.00 in a research note on Friday, September 13th. Leerink Partnrs downgraded Fulcrum Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 12th. Cantor Fitzgerald lowered Fulcrum Therapeutics from an “overweight” rating to a “neutral” rating in a report on Thursday, September 12th. Finally, Bank of America lowered Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and cut their price target for the stock 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 issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.33.

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.