Fulcrum Therapeutics (NASDAQ:FULC) Shares Cross Above Fifty Day Moving Average on Disappointing Earnings

Fulcrum Therapeutics, Inc. (NASDAQ:FULC)’s stock price passed above its fifty day moving average during trading on Friday following a better than expected earnings announcement. The stock has a fifty day moving average of $3.73 and traded as high as $3.80. Fulcrum Therapeutics shares last traded at $3.77, with a volume of 1,364,507 shares traded.

The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07).

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fulcrum Therapeutics in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Fulcrum Therapeutics currently has a consensus rating of “Reduce” and an average target price of $8.20.

Hedge Funds Weigh In On Fulcrum Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Fulcrum Therapeutics in the second quarter valued at approximately $32,297,000. Nantahala Capital Management LLC lifted its stake in Fulcrum Therapeutics by 20.1% in the third quarter. Nantahala Capital Management LLC now owns 6,575,352 shares of the company’s stock worth $24,329,000 after purchasing an additional 1,100,312 shares during the last quarter. Siren L.L.C. boosted its holdings in Fulcrum Therapeutics by 20.5% during the 1st quarter. Siren L.L.C. now owns 2,350,000 shares of the company’s stock valued at $18,024,000 after acquiring an additional 400,000 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Fulcrum Therapeutics by 7.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,130,281 shares of the company’s stock valued at $8,663,000 after purchasing an additional 79,157 shares during the period. Finally, ADAR1 Capital Management LLC purchased a new stake in Fulcrum Therapeutics during the 2nd quarter valued at $5,728,000. 89.83% of the stock is currently owned by institutional investors.

Fulcrum Therapeutics Stock Up 2.4%

The company has a market capitalization of $287.95 million, a PE ratio of -3.62 and a beta of 2.82. The stock’s fifty day moving average price is $3.73 and its two-hundred day moving average price is $5.55.

About Fulcrum Therapeutics

Fulcrum Therapeutics, Inc. is a clinical-stage biopharmaceutical company based in Cambridge, Massachusetts. It develops medicines for genetically defined diseases, with research focused on changing gene expression to address the underlying causes of illness. The company’s work has included programs for sickle cell disease and facioscapulohumeral muscular dystrophy, a rare genetic muscle disorder. Its research has explored approaches such as influencing hemoglobin production and modifying disease-related gene activity.