Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Major Shareholder Ra Capital Management, L.P. Buys 1,923,076 Shares of Stock

Posted by MarketBeat News on Jan 25th, 2023

Fulcrum Therapeutics, Inc. (NASDAQ:FULC – Get Rating) major shareholder Ra Capital Management, L.P. acquired 1,923,076 shares of Fulcrum Therapeutics stock in a transaction on Friday, January 20th. The stock was purchased at an average cost of $13.00 per share, with a total value of $24,999,988.00. Following the purchase, the insider now directly owns 11,609,704 shares of the company’s stock, valued at approximately $150,926,152. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Ra Capital Management, L.P. also recently made the following trade(s):

On Wednesday, January 4th, Ra Capital Management, L.P. acquired 180,703 shares of Fulcrum Therapeutics stock. The stock was purchased at an average cost of $7.28 per share, with a total value of $1,315,517.84.
On Tuesday, December 27th, Ra Capital Management, L.P. acquired 4,089 shares of Fulcrum Therapeutics stock. The stock was purchased at an average cost of $5.99 per share, with a total value of $24,493.11.
On Monday, December 19th, Ra Capital Management, L.P. acquired 98,787 shares of Fulcrum Therapeutics stock. The stock was purchased at an average cost of $5.90 per share, with a total value of $582,843.30.
On Friday, December 16th, Ra Capital Management, L.P. acquired 1,341,420 shares of Fulcrum Therapeutics stock. The stock was purchased at an average cost of $5.42 per share, with a total value of $7,270,496.40.
On Wednesday, December 14th, Ra Capital Management, L.P. acquired 824,600 shares of Fulcrum Therapeutics stock. The stock was purchased at an average cost of $5.46 per share, with a total value of $4,502,316.00.

Fulcrum Therapeutics Trading Up 1.3 %

FULC stock opened at $12.80 on Wednesday. The stock’s fifty day simple moving average is $8.14 and its two-hundred day simple moving average is $7.45. Fulcrum Therapeutics, Inc. has a 1-year low of $3.21 and a 1-year high of $24.79. The stock has a market cap of $666.25 million, a P/E ratio of -5.00 and a beta of 1.90.

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Fulcrum Therapeutics (NASDAQ:FULC – Get Rating) last posted its quarterly earnings data on Tuesday, November 8th. The company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.62) by $0.12. Fulcrum Therapeutics had a negative return on equity of 54.55% and a negative net margin of 1,000.65%. The business had revenue of $1.18 million for the quarter, compared to analysts’ expectations of $2.19 million. As a group, analysts forecast that Fulcrum Therapeutics, Inc. will post -2.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Credit Suisse Group cut their target price on Fulcrum Therapeutics from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 9th. Piper Sandler lifted their target price on Fulcrum Therapeutics from $18.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday. The Goldman Sachs Group lifted their target price on Fulcrum Therapeutics from $11.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, January 19th. Stifel Nicolaus cut their target price on Fulcrum Therapeutics from $43.00 to $35.00 in a research report on Thursday, October 20th. Finally, Oppenheimer cut their target price on Fulcrum Therapeutics from $30.00 to $26.00 in a research report on Thursday, January 19th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.57.

Institutional Trading of Fulcrum Therapeutics

Several hedge funds have recently made changes to their positions in FULC. RA Capital Management L.P. bought a new stake in shares of Fulcrum Therapeutics in the third quarter valued at $56,630,000. Point72 Asset Management L.P. raised its stake in shares of Fulcrum Therapeutics by 511.9% in the second quarter. Point72 Asset Management L.P. now owns 1,988,800 shares of the company’s stock valued at $9,745,000 after buying an additional 1,663,800 shares during the period. VR Adviser LLC bought a new stake in shares of Fulcrum Therapeutics in the third quarter valued at $9,708,000. Sofinnova Investments Inc. bought a new stake in shares of Fulcrum Therapeutics in the third quarter valued at $6,450,000. Finally, Vanguard Group Inc. raised its stake in shares of Fulcrum Therapeutics by 27.9% in the third quarter. Vanguard Group Inc. now owns 1,956,092 shares of the company’s stock valued at $15,825,000 after buying an additional 426,430 shares during the period.

About Fulcrum Therapeutics

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Fulcrum Therapeutics, Inc is a clinical stage biopharmaceutical company. The firm develops new medicines and focuses on unlocking gene control mechanisms to develop small molecule therapies. Its product candidate includes Losmapimod and FTX-HbF. The company was founded by Michael R. Green, Danny Reinberg, Rudolf Jaenisch, Jeannie T.