Royal Bank of Canada Reiterates Sector Perform Rating for Fulcrum Therapeutics (NASDAQ:FULC)

Royal Bank of Canada restated their sector perform rating on shares of Fulcrum Therapeutics (NASDAQ:FULC) in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a $4.00 price objective on the stock.

Several other research analysts have also recently weighed in on the stock. Leerink Partners reissued a “market perform” rating and set a $4.00 price target on shares of Fulcrum Therapeutics in a research report on Thursday, September 12th. Leerink Partnrs cut shares of Fulcrum Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 12th. Cantor Fitzgerald lowered shares of Fulcrum Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Thursday, September 12th. HC Wainwright reiterated a “neutral” rating and issued a $4.00 price objective on shares of Fulcrum Therapeutics in a research report on Thursday. Finally, Stifel Nicolaus downgraded Fulcrum Therapeutics from a “buy” rating to a “hold” rating and reduced their target price for the company from $22.00 to $3.00 in a research 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 given a buy rating to the company. Based on data from MarketBeat, Fulcrum Therapeutics presently has a consensus rating of “Hold” and an average price target of $9.33.

Fulcrum Therapeutics Stock Performance

Shares of Fulcrum Therapeutics stock opened at $3.01 on Thursday. The business’s 50 day moving average price is $3.75 and its 200 day moving average price is $6.48. The company has a market cap of $187.51 million, a price-to-earnings ratio of -9.69 and a beta of 2.24. Fulcrum Therapeutics has a one year low of $2.87 and a one year high of $13.70.

Institutional Investors Weigh In On Fulcrum Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC boosted its holdings in Fulcrum Therapeutics by 54.3% during the 1st quarter. Jane Street Group LLC now owns 535,062 shares of the company’s stock valued at $5,051,000 after acquiring an additional 188,212 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Fulcrum Therapeutics during the second quarter worth about $3,084,000. Vanguard Group Inc. boosted its stake 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. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Fulcrum Therapeutics in the first quarter valued at approximately $308,000. Finally, Dimensional Fund Advisors LP increased its stake 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 period. Hedge funds and other institutional investors own 89.83% of the company’s stock.

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.