The Manufacturers Life Insurance Company Takes Position in Fulcrum Therapeutics, Inc. (NASDAQ:FULC)

The Manufacturers Life Insurance Company purchased a new position in shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 24,480 shares of the company’s stock, valued at approximately $152,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Fulcrum Therapeutics by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,538,665 shares of the company’s stock valued at $23,965,000 after purchasing an additional 18,681 shares during the period. Dimensional Fund Advisors LP raised its position in Fulcrum Therapeutics by 13.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,480,926 shares of the company’s stock worth $9,182,000 after buying an additional 176,114 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Fulcrum Therapeutics by 54.3% in the 1st quarter. Jane Street Group LLC now owns 535,062 shares of the company’s stock worth $5,051,000 after acquiring an additional 188,212 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Fulcrum Therapeutics in the second quarter valued at about $3,084,000. Finally, StemPoint Capital LP boosted its holdings in shares of Fulcrum Therapeutics by 8.1% in the first quarter. StemPoint Capital LP now owns 407,108 shares of the company’s stock valued at $3,843,000 after acquiring an additional 30,535 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on FULC. Stifel Nicolaus lowered Fulcrum Therapeutics from a “buy” rating to a “hold” rating and lowered their price objective for the company from $22.00 to $3.00 in a report on Thursday, September 12th. Bank of America lowered 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 report on Thursday, September 12th. Leerink Partners reissued a “market perform” rating and issued a $4.00 target price on shares of Fulcrum Therapeutics in a report on Thursday, September 12th. Royal Bank of Canada downgraded shares of Fulcrum Therapeutics from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $15.00 to $4.00 in a report on Thursday, September 12th. Finally, Leerink Partnrs downgraded shares of Fulcrum Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.33.

Fulcrum Therapeutics Stock Down 1.1 %

Shares of NASDAQ FULC opened at $3.51 on Friday. The stock’s fifty day simple moving average is $6.00 and its 200 day simple moving average is $7.08. The stock has a market capitalization of $218.16 million, a price-to-earnings ratio of -2.19 and a beta of 2.21. Fulcrum Therapeutics, Inc. has a 52-week low of $2.87 and a 52-week high of $13.70.

Fulcrum Therapeutics (NASDAQ:FULC) last announced its earnings results on Wednesday, July 31st. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.93. The firm had revenue of $80.00 million for the quarter, compared to analyst estimates of $80.00 million. During the same period last year, the firm earned ($0.38) earnings per share. As a group, analysts anticipate that Fulcrum Therapeutics, Inc. will post -0.28 earnings per share for the current year.

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.