Cantor Fitzgerald Lowers Fulcrum Therapeutics (NASDAQ:FULC) to Neutral

Fulcrum Therapeutics (NASDAQ:FULC) was downgraded by stock analysts at Cantor Fitzgerald from an “overweight” rating to a “neutral” rating in a research note issued on Thursday, Briefing.com reports.

Other equities analysts have also issued reports about the company. HC Wainwright reiterated a “buy” rating and issued a $17.00 price objective on shares of Fulcrum Therapeutics in a research note on Thursday, August 1st. Bank of America raised shares of Fulcrum Therapeutics from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $5.00 to $10.00 in a research report on Monday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $15.43.

Fulcrum Therapeutics Stock Down 62.7 %

Shares of FULC opened at $3.30 on Thursday. The firm has a market cap of $205.11 million, a price-to-earnings ratio of -2.06 and a beta of 2.23. The company’s fifty day moving average is $8.52 and its 200-day moving average is $8.36. Fulcrum Therapeutics has a 12 month low of $3.14 and a 12 month high of $13.70.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vestal Point Capital LP bought a new position in shares of Fulcrum Therapeutics in the fourth quarter worth about $6,919,000. Opaleye Management Inc. bought a new position in Fulcrum Therapeutics during the 4th quarter worth approximately $878,000. ADAR1 Capital Management LLC bought a new stake in Fulcrum Therapeutics in the fourth quarter valued at approximately $4,302,000. Jane Street Group LLC raised its holdings in Fulcrum Therapeutics by 54.3% in the first quarter. Jane Street Group LLC now owns 535,062 shares of the company’s stock worth $5,051,000 after purchasing an additional 188,212 shares during the period. Finally, Mass General Brigham Inc bought a new position in shares of Fulcrum Therapeutics during the first quarter worth $1,939,000. 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.