Algert Global LLC Increases Stake in Fulcrum Therapeutics, Inc. (NASDAQ:FULC)

Algert Global LLC lifted its position in Fulcrum Therapeutics, Inc. (NASDAQ:FULC) by 202.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,303 shares of the company’s stock after acquiring an additional 27,633 shares during the quarter. Algert Global LLC owned 0.07% of Fulcrum Therapeutics worth $256,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. ADAR1 Capital Management LLC purchased a new position in shares of Fulcrum Therapeutics during the fourth quarter valued at approximately $4,302,000. Opaleye Management Inc. bought a new position in Fulcrum Therapeutics in the 4th quarter valued at $878,000. Mass General Brigham Inc purchased a new stake in Fulcrum Therapeutics in the first quarter worth $1,939,000. China Universal Asset Management Co. Ltd. increased its stake in 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 worth $112,000 after purchasing an additional 4,766 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Fulcrum Therapeutics during the first quarter valued at $308,000. 89.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on FULC. HC Wainwright downgraded shares of Fulcrum Therapeutics from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $17.00 to $4.00 in a research note on Friday, September 13th. Leerink Partnrs downgraded shares of Fulcrum Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 12th. Bank of America cut Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $10.00 to $2.00 in a research note on Thursday, September 12th. Leerink Partners reaffirmed a “market perform” rating and set a $4.00 target price on shares of Fulcrum Therapeutics in a research report on Thursday, September 12th. Finally, Royal Bank of Canada downgraded Fulcrum Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $15.00 to $4.00 in a research 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 stock. According to MarketBeat, Fulcrum Therapeutics currently has an average rating of “Hold” and an average price target of $9.33.

Fulcrum Therapeutics Stock Performance

NASDAQ:FULC opened at $3.41 on Thursday. The company’s 50-day simple moving average is $6.86 and its 200-day simple moving average is $7.39. Fulcrum Therapeutics, Inc. has a fifty-two week low of $2.87 and a fifty-two week high of $13.70. The stock has a market capitalization of $211.95 million, a P/E ratio of -2.13 and a beta of 2.21.

Fulcrum Therapeutics (NASDAQ:FULC) last released its quarterly 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. The business had revenue of $80.00 million for the quarter, compared to analyst estimates 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 period in the previous year, the company earned ($0.38) earnings per share. On average, research analysts forecast that Fulcrum Therapeutics, Inc. will post -0.28 EPS for the current 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.