Fulcrum Therapeutics (NASDAQ:FULC) Rating Lowered to Hold at Stifel Nicolaus

Fulcrum Therapeutics (NASDAQ:FULC) was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued on Thursday, Briefing.com reports.

Several other brokerages have also recently issued reports on FULC. Bank of America raised shares of Fulcrum Therapeutics from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $5.00 to $10.00 in a report on Monday. Cantor Fitzgerald cut Fulcrum Therapeutics from an “overweight” rating to a “neutral” rating in a report on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $17.00 target price on shares of Fulcrum Therapeutics in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Fulcrum Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $14.29.

Fulcrum Therapeutics Trading Down 61.1 %

Shares of NASDAQ:FULC traded down $5.41 during trading on Thursday, reaching $3.44. The stock had a trading volume of 20,655,682 shares, compared to its average volume of 839,495. The firm’s 50-day simple moving average is $8.52 and its 200 day simple moving average is $8.36. Fulcrum Therapeutics has a one year low of $2.88 and a one year high of $13.70. The company has a market capitalization of $213.81 million, a P/E ratio of -2.15 and a beta of 2.23.

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

Institutional Trading of Fulcrum Therapeutics

Several institutional investors have recently modified their holdings of the stock. National Bank of Canada FI raised its stake 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 worth $28,000 after purchasing an additional 4,000 shares during the period. Capstone Investment Advisors LLC purchased a new position in Fulcrum Therapeutics during the fourth quarter worth about $68,000. Profund Advisors LLC acquired a new stake in shares of Fulcrum Therapeutics during the second quarter valued at about $68,000. Renaissance Technologies LLC purchased a new position in shares of Fulcrum Therapeutics during the 2nd quarter worth approximately $82,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Fulcrum Therapeutics by 66.7% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,916 shares of the company’s stock valued at $112,000 after purchasing an additional 4,766 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

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.