Fulcrum Therapeutics (NASDAQ:FULC) Given “Sector Perform” Rating at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Fulcrum Therapeutics (NASDAQ:FULC) in a report issued on Thursday morning,Benzinga reports. The firm currently has a $4.00 target price on the stock.

Other research analysts also recently issued research reports about the stock. Bank of America downgraded shares of Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $10.00 to $2.00 in a research note on Thursday, September 12th. HC Wainwright reaffirmed a “neutral” rating and set a $4.00 target price on shares of Fulcrum Therapeutics in a research report on Thursday. Cantor Fitzgerald lowered Fulcrum Therapeutics from an “overweight” rating to a “neutral” rating in a report on Thursday, September 12th. Leerink Partners restated a “market perform” rating and set a $4.00 price objective on shares of Fulcrum Therapeutics in a report on Thursday, September 12th. Finally, Leerink Partnrs cut Fulcrum Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.33.

Fulcrum Therapeutics Stock Performance

Fulcrum Therapeutics stock traded down $0.30 during mid-day trading on Thursday, hitting $3.02. The company’s stock had a trading volume of 992,474 shares, compared to its average volume of 988,958. The company has a 50 day moving average of $3.86 and a 200-day moving average of $6.51. Fulcrum Therapeutics has a one year low of $2.87 and a one year high of $13.70. The stock has a market cap of $188.45 million, a PE ratio of -9.84 and a beta of 2.24.

Institutional Investors Weigh In On Fulcrum Therapeutics

A number of institutional investors have recently added to or reduced their stakes in FULC. Vanguard Group Inc. grew its stake in Fulcrum Therapeutics by 0.7% during the 1st 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 last quarter. Dimensional Fund Advisors LP increased its holdings in Fulcrum Therapeutics by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,480,926 shares of the company’s stock worth $9,182,000 after acquiring an additional 176,114 shares in the last quarter. Braidwell LP acquired a new position in shares of Fulcrum Therapeutics during the 3rd quarter worth about $3,817,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Fulcrum Therapeutics by 223.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 569,185 shares of the company’s stock valued at $2,032,000 after acquiring an additional 393,202 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in Fulcrum Therapeutics by 54.3% in the 1st quarter. Jane Street Group LLC now owns 535,062 shares of the company’s stock valued at $5,051,000 after purchasing an additional 188,212 shares in the last quarter. 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.