Fulcrum Therapeutics (NASDAQ:FULC) Shares Gap Up to $8.54

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) gapped up before the market opened on Monday . The stock had previously closed at $8.54, but opened at $8.90. Fulcrum Therapeutics shares last traded at $9.29, with a volume of 151,463 shares traded.

Analysts Set New Price Targets

A number of research firms have recently commented on FULC. Oppenheimer dropped their price target on Fulcrum Therapeutics from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 14th. Bank of America upgraded Fulcrum Therapeutics from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $5.00 to $10.00 in a report on Monday. HC Wainwright restated a “buy” rating and set a $17.00 target price on shares of Fulcrum Therapeutics in a report on Thursday, August 1st. Cantor Fitzgerald restated an “overweight” rating and set a $23.00 target price on shares of Fulcrum Therapeutics in a research note on Wednesday, July 10th. Finally, The Goldman Sachs Group raised Fulcrum Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $6.00 to $15.00 in a report on Monday, May 13th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Fulcrum Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $15.43.

Fulcrum Therapeutics Stock Performance

The stock has a market cap of $560.63 million, a PE ratio of -5.81 and a beta of 2.23. The business has a 50 day moving average price of $8.38 and a two-hundred day moving average price of $8.38.

Fulcrum Therapeutics (NASDAQ:FULC) last released its earnings results on Wednesday, July 31st. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.93. The company had revenue of $80.00 million for the quarter, compared to analysts’ expectations of $80.00 million. Fulcrum Therapeutics had a negative return on equity of 8.28% and a negative net margin of 3,470.05%. During the same period in the previous year, the business posted ($0.38) EPS. As a group, research analysts anticipate that Fulcrum Therapeutics, Inc. will post -0.48 earnings per share for the current year.

Institutional Investors Weigh In On Fulcrum Therapeutics

A number of hedge funds have recently modified their holdings of FULC. Capstone Investment Advisors LLC bought a new stake in shares of Fulcrum Therapeutics in the fourth quarter valued at $68,000. Affinity Asset Advisors LLC purchased a new stake in Fulcrum Therapeutics during the fourth quarter valued at about $844,000. Vestal Point Capital LP bought a new position in Fulcrum Therapeutics during the fourth quarter worth about $6,919,000. ADAR1 Capital Management LLC bought a new position in Fulcrum Therapeutics during the fourth quarter worth about $4,302,000. Finally, Opaleye Management Inc. purchased a new position in shares of Fulcrum Therapeutics in the fourth quarter worth about $878,000. 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.