Hsbc Holdings PLC Raises Holdings in Fulcrum Therapeutics, Inc. (NASDAQ:FULC)

Hsbc Holdings PLC increased its position in Fulcrum Therapeutics, Inc. (NASDAQ:FULC) by 55.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 75,959 shares of the company’s stock after purchasing an additional 26,944 shares during the period. Hsbc Holdings PLC’s holdings in Fulcrum Therapeutics were worth $355,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its position in Fulcrum Therapeutics by 176.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 367,594 shares of the company’s stock valued at $1,728,000 after purchasing an additional 234,810 shares during the period. ADAR1 Capital Management LLC lifted its position in Fulcrum Therapeutics by 177.2% in the fourth quarter. ADAR1 Capital Management LLC now owns 196,248 shares of the company’s stock worth $922,000 after buying an additional 125,446 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Fulcrum Therapeutics by 2.3% during the fourth quarter. Bank of New York Mellon Corp now owns 141,873 shares of the company’s stock worth $667,000 after buying an additional 3,126 shares during the period. Matisse Capital increased its position in Fulcrum Therapeutics by 20.4% during the fourth quarter. Matisse Capital now owns 128,445 shares of the company’s stock valued at $604,000 after acquiring an additional 21,728 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Fulcrum Therapeutics by 367.1% in the third quarter. Barclays PLC now owns 124,141 shares of the company’s stock valued at $443,000 after acquiring an additional 97,565 shares during the period. 89.83% of the stock is owned by institutional investors.

Fulcrum Therapeutics Stock Performance

NASDAQ FULC opened at $5.41 on Friday. The firm has a market capitalization of $292.03 million, a P/E ratio of -17.45 and a beta of 2.29. The stock has a 50-day simple moving average of $3.34 and a two-hundred day simple moving average of $3.68. Fulcrum Therapeutics, Inc. has a fifty-two week low of $2.32 and a fifty-two week high of $10.13.

Fulcrum Therapeutics (NASDAQ:FULC) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.01. As a group, analysts forecast that Fulcrum Therapeutics, Inc. will post -0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “neutral” rating and issued a $4.00 price objective on shares of Fulcrum Therapeutics in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Fulcrum Therapeutics currently has an average rating of “Hold” and a consensus target price of $8.63.

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.