Fulcrum Therapeutics, Inc. Expected to Earn FY2024 Earnings of ($0.78) Per Share (NASDAQ:FULC)

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) – Investment analysts at Cantor Fitzgerald issued their FY2024 earnings estimates for shares of Fulcrum Therapeutics in a research note issued to investors on Monday, May 20th. Cantor Fitzgerald analyst K. Kluska anticipates that the company will post earnings per share of ($0.78) for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $23.00 price target on the stock. The consensus estimate for Fulcrum Therapeutics’ current full-year earnings is ($1.32) per share.

Fulcrum Therapeutics (NASDAQ:FULC) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.04. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 40.60%. The company had revenue of $0.87 million for the quarter, compared to the consensus estimate of $0.65 million.

Several other equities analysts also recently weighed in on the stock. Royal Bank of Canada began coverage on shares of Fulcrum Therapeutics in a report on Wednesday, March 13th. They issued an “outperform” rating and a $14.00 price target on the stock. The Goldman Sachs Group raised shares of Fulcrum Therapeutics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $6.00 to $15.00 in a research note on Monday, May 13th. Oppenheimer dropped their price objective on shares of Fulcrum Therapeutics from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 14th. HC Wainwright reaffirmed a “buy” rating and set a $17.00 price objective on shares of Fulcrum Therapeutics in a research note on Tuesday, May 14th. Finally, Piper Sandler raised their price objective on shares of Fulcrum Therapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $15.57.

Fulcrum Therapeutics Trading Up 0.9 %

Shares of NASDAQ:FULC opened at $7.71 on Thursday. Fulcrum Therapeutics has a twelve month low of $2.65 and a twelve month high of $13.70. The company’s 50 day moving average is $8.26 and its 200 day moving average is $7.47.

Insider Transactions at Fulcrum Therapeutics

In other news, VP Greg Tourangeau sold 4,884 shares of Fulcrum Therapeutics stock in a transaction on Friday, March 8th. The stock was sold at an average price of $11.72, for a total transaction of $57,240.48. Following the transaction, the vice president now owns 11,807 shares in the company, valued at approximately $138,378.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. FMR LLC raised its holdings in shares of Fulcrum Therapeutics by 7.6% during the 3rd quarter. FMR LLC now owns 5,975,416 shares of the company’s stock worth $26,531,000 after acquiring an additional 421,676 shares during the period. Cowen AND Company LLC increased its position in shares of Fulcrum Therapeutics by 38.2% during the 3rd quarter. Cowen AND Company LLC now owns 4,308,359 shares of the company’s stock worth $19,129,000 after purchasing an additional 1,191,363 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Fulcrum Therapeutics by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,538,665 shares of the company’s stock worth $23,965,000 after purchasing an additional 18,681 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Fulcrum Therapeutics by 4.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,406,422 shares of the company’s stock worth $10,685,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Vestal Point Capital LP acquired a new stake in shares of Fulcrum Therapeutics during the 4th quarter worth about $6,919,000. 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.