Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Shares Sold by Simplify Asset Management Inc.

Simplify Asset Management Inc. reduced its position in Fulcrum Therapeutics, Inc. (NASDAQ:FULC) by 47.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 351,314 shares of the company’s stock after selling 323,518 shares during the quarter. Simplify Asset Management Inc.’s holdings in Fulcrum Therapeutics were worth $1,254,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. National Bank of Canada FI boosted its holdings in shares of Fulcrum Therapeutics by 869.6% in the second quarter. National Bank of Canada FI now owns 4,460 shares of the company’s stock valued at $28,000 after acquiring an additional 4,000 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Fulcrum Therapeutics by 64.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 12,002 shares of the company’s stock valued at $43,000 after acquiring an additional 4,701 shares during the period. Profund Advisors LLC acquired a new stake in shares of Fulcrum Therapeutics in the second quarter valued at approximately $68,000. Renaissance Technologies LLC acquired a new stake in shares of Fulcrum Therapeutics in the second quarter valued at approximately $82,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Fulcrum Therapeutics in the first quarter valued at approximately $115,000. 89.83% of the stock is owned by institutional investors and hedge funds.

Fulcrum Therapeutics Stock Down 8.1 %

Shares of FULC traded down $0.27 during trading hours on Friday, reaching $3.05. 213,991 shares of the company traded hands, compared to its average volume of 985,452. The stock has a market capitalization of $190.32 million, a PE ratio of -10.06 and a beta of 2.24. Fulcrum Therapeutics, Inc. has a fifty-two week low of $2.87 and a fifty-two week high of $13.70. The stock has a fifty day simple moving average of $3.86 and a 200 day simple moving average of $6.51.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Leerink Partners reissued a “market perform” rating and issued a $4.00 price objective on shares of Fulcrum Therapeutics in a report on Thursday, September 12th. Cantor Fitzgerald cut Fulcrum Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Thursday, September 12th. Bank of America cut Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $10.00 to $2.00 in a research note on Thursday, September 12th. Royal Bank of Canada restated a “sector perform” rating and set a $4.00 price target on shares of Fulcrum Therapeutics in a research note on Thursday. Finally, Stifel Nicolaus cut Fulcrum Therapeutics from a “buy” rating to a “hold” rating and cut their price objective for the stock from $22.00 to $3.00 in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $9.33.

Fulcrum Therapeutics Company Profile

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.