Traders Purchase High Volume of Call Options on Fulcrum Therapeutics (NASDAQ:FULC)

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) was the recipient of some unusual options trading on Tuesday. Investors purchased 9,544 call options on the company. This represents an increase of approximately 867% compared to the average daily volume of 987 call options.

Fulcrum Therapeutics Stock Performance

Shares of FULC stock opened at $7.71 on Thursday. The firm has a market cap of $479.18 million, a P/E ratio of -4.82 and a beta of 2.35. Fulcrum Therapeutics has a fifty-two week low of $2.65 and a fifty-two week high of $13.70. The business’s 50 day moving average price is $8.26 and its 200-day moving average price is $7.47.

Fulcrum Therapeutics (NASDAQ:FULC) last released its earnings results on Tuesday, February 27th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.04. The company had revenue of $0.87 million during the quarter, compared to analysts’ expectations of $0.65 million. Fulcrum Therapeutics had a negative return on equity of 40.60% and a negative net margin of 3,470.05%. As a group, equities analysts predict that Fulcrum Therapeutics will post -1.32 EPS for the current year.

Insider Buying and Selling at Fulcrum Therapeutics

In other news, VP Greg Tourangeau sold 4,884 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $11.72, for a total transaction of $57,240.48. Following the transaction, the vice president now owns 11,807 shares of the company’s stock, valued at approximately $138,378.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FULC. Jane Street Group LLC grew its holdings in Fulcrum Therapeutics by 54.3% during the first quarter. Jane Street Group LLC now owns 535,062 shares of the company’s stock valued at $5,051,000 after purchasing an additional 188,212 shares during the period. StemPoint Capital LP lifted its position in shares of Fulcrum Therapeutics by 8.1% in the first quarter. StemPoint Capital LP now owns 407,108 shares of the company’s stock worth $3,843,000 after buying an additional 30,535 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Fulcrum Therapeutics by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,538,665 shares of the company’s stock worth $23,965,000 after buying an additional 18,681 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Fulcrum Therapeutics in the first quarter worth about $115,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Fulcrum Therapeutics in the first quarter worth about $308,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on FULC shares. Piper Sandler increased their price objective on Fulcrum Therapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. The Goldman Sachs Group raised Fulcrum Therapeutics from a “neutral” rating to a “buy” rating and raised their price target for the company from $6.00 to $15.00 in a report on Monday, May 13th. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 price target on shares of Fulcrum Therapeutics in a report on Tuesday, May 14th. Royal Bank of Canada started coverage on Fulcrum Therapeutics in a research report on Wednesday, March 13th. They set an “outperform” rating and a $14.00 price objective on the stock. Finally, Oppenheimer reduced their price objective on Fulcrum Therapeutics from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 14th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $15.57.

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.