State Street Corp Boosts Stock Position in Fulcrum Therapeutics, Inc. (NASDAQ:FULC)

State Street Corp raised its position in Fulcrum Therapeutics, Inc. (NASDAQ:FULC) by 61.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,680,229 shares of the company’s stock after purchasing an additional 638,955 shares during the quarter. State Street Corp owned 2.69% of Fulcrum Therapeutics worth $5,998,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. National Bank of Canada FI lifted its position in Fulcrum Therapeutics by 869.6% during the second quarter. National Bank of Canada FI now owns 4,460 shares of the company’s stock valued at $28,000 after acquiring an additional 4,000 shares during the last quarter. Profund Advisors LLC purchased a new position in shares of Fulcrum Therapeutics in the 2nd quarter valued at about $68,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Fulcrum Therapeutics by 64.4% during 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 in the last quarter. Renaissance Technologies LLC acquired a new stake in Fulcrum Therapeutics in the 2nd quarter worth about $82,000. Finally, Walleye Capital LLC acquired a new stake in shares of Fulcrum Therapeutics in the third quarter valued at about $59,000. 89.83% of the stock is currently owned by institutional investors.

Fulcrum Therapeutics Stock Performance

Fulcrum Therapeutics stock opened at $4.79 on Friday. The firm’s 50-day moving average is $3.70 and its 200-day moving average is $5.68. Fulcrum Therapeutics, Inc. has a 1 year low of $2.86 and a 1 year high of $13.70. The company has a market cap of $258.37 million, a P/E ratio of -15.45 and a beta of 2.14.

Analysts Set New Price Targets

FULC has been the subject of several analyst reports. Leerink Partners reissued a “market perform” rating and issued a $4.00 price target on shares of Fulcrum Therapeutics in a research note on Thursday, September 12th. Leerink Partnrs lowered Fulcrum Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $4.00 target price on shares of Fulcrum Therapeutics in a research report on Thursday, November 14th. Cantor Fitzgerald lowered Fulcrum Therapeutics from an “overweight” rating to a “neutral” rating in a report on Thursday, September 12th. Finally, Bank of America downgraded Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $10.00 to $2.00 in a research note 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 MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.33.

Fulcrum Therapeutics Company 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.