Ra Capital Management, L.P. Sells 4,175,139 Shares of Fulcrum Therapeutics (NASDAQ:FULC) Stock

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) major shareholder Ra Capital Management, L.P. sold 4,175,139 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $13.98, for a total transaction of $58,368,443.22. Following the completion of the transaction, the insider owned 6,053,960 shares in the company, valued at approximately $84,634,360.80. This trade represents a 40.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Fulcrum Therapeutics Trading Down 5.5%

Fulcrum Therapeutics stock traded down $0.80 during mid-day trading on Wednesday, reaching $13.80. The company had a trading volume of 4,413,464 shares, compared to its average volume of 730,970. Fulcrum Therapeutics, Inc. has a fifty-two week low of $2.32 and a fifty-two week high of $15.74. The business has a fifty day simple moving average of $9.56 and a 200 day simple moving average of $7.99. The company has a market cap of $746.83 million, a P/E ratio of -11.69 and a beta of 3.17.

Fulcrum Therapeutics (NASDAQ:FULC) last issued its earnings results on Wednesday, October 29th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.02). Research analysts forecast that Fulcrum Therapeutics, Inc. will post -0.16 EPS for the current year.

Institutional Investors Weigh In On Fulcrum Therapeutics

A number of hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC increased its holdings in shares of Fulcrum Therapeutics by 865.0% in the first quarter. Acadian Asset Management LLC now owns 344,561 shares of the company’s stock valued at $989,000 after purchasing an additional 308,854 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in Fulcrum Therapeutics during the first quarter worth about $425,000. Exome Asset Management LLC boosted its stake in shares of Fulcrum Therapeutics by 143.0% during the 1st quarter. Exome Asset Management LLC now owns 689,137 shares of the company’s stock worth $1,985,000 after acquiring an additional 405,538 shares in the last quarter. Strs Ohio acquired a new stake in Fulcrum Therapeutics in the first quarter valued at $263,000. Finally, XTX Topco Ltd purchased a new position in Fulcrum Therapeutics during the 1st quarter valued at about $144,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

FULC has been the subject of a number of recent research reports. Truist Financial set a $14.00 price objective on Fulcrum Therapeutics in a research report on Monday, November 24th. HC Wainwright increased their price objective on Fulcrum Therapeutics from $18.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday. Leerink Partners set a $20.00 price objective on shares of Fulcrum Therapeutics and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Bank of America raised their price objective on Fulcrum Therapeutics from $6.00 to $7.00 and gave the stock an “underperform” rating in a research report on Tuesday. Finally, Stifel Nicolaus set a $25.00 target price on Fulcrum Therapeutics in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Fulcrum Therapeutics has a consensus rating of “Hold” and a consensus target price of $18.50.

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.