Fulcrum Therapeutics (NASDAQ:FULC) Shares Break Above 50 Day Moving Average After Earnings Miss

Fulcrum Therapeutics, Inc. (NASDAQ:FULC)’s stock price crossed 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 changing hands.

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

Analyst Ratings Changes

Separately, Weiss Ratings restated 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 issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Fulcrum Therapeutics has an average rating of “Reduce” and a consensus target price of $8.20.

Institutional Investors Weigh In On Fulcrum Therapeutics

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

Fulcrum Therapeutics Price Performance

The stock’s 50-day simple moving average is $3.73 and its two-hundred day simple moving average is $5.55. The firm has a market capitalization of $287.95 million, a P/E ratio of -3.62 and a beta of 2.82.

Fulcrum Therapeutics Company Profile

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.