Fulcrum Therapeutics (NASDAQ:FULC) Downgraded by Leerink Partnrs

Fulcrum Therapeutics (NASDAQ:FULC) was downgraded by stock analysts at Leerink Partnrs from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

FULC has been the subject of a number of other reports. Bank of America cut shares of Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $10.00 to $2.00 in a report on Thursday. Cantor Fitzgerald cut shares of Fulcrum Therapeutics from an “overweight” rating to a “neutral” rating in a report on Thursday. Royal Bank of Canada cut shares of Fulcrum Therapeutics from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $15.00 to $4.00 in a report on Thursday. HC Wainwright reissued a “buy” rating and set a $17.00 price target on shares of Fulcrum Therapeutics in a report on Thursday, August 1st. Finally, Stifel Nicolaus cut shares of Fulcrum Therapeutics from a “buy” rating to a “hold” rating and cut their price target for the stock from $22.00 to $3.00 in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.78.

Fulcrum Therapeutics Stock Down 61.1 %

NASDAQ:FULC opened at $3.44 on Thursday. The company has a fifty day simple moving average of $8.47 and a two-hundred day simple moving average of $8.33. The company has a market cap of $214.66 million, a price-to-earnings ratio of -2.15 and a beta of 2.23. Fulcrum Therapeutics has a 52 week low of $2.87 and a 52 week high of $13.70.

Fulcrum Therapeutics (NASDAQ:FULC) last issued 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 firm had revenue of $80.00 million during the quarter, compared to the consensus estimate of $80.00 million. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 8.28%. During the same quarter in the previous year, the firm posted ($0.38) earnings per share. On average, analysts expect that Fulcrum Therapeutics will post -0.48 EPS for the current year.

Hedge Funds Weigh In On Fulcrum Therapeutics

A number of large investors have recently bought and sold shares of FULC. 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 shares of Fulcrum Therapeutics in the 4th quarter valued at $68,000. Profund Advisors LLC purchased a new position in shares of Fulcrum Therapeutics in the 2nd quarter valued at $68,000. Renaissance Technologies LLC purchased a new position in shares of Fulcrum Therapeutics in the 2nd quarter valued at $82,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of 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 acquiring an additional 4,766 shares during the period. Hedge funds and other institutional investors 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.