In a filing, Fulcrum Therapeutics Inc. revealed its 10% Owner RA CAPITAL MANAGEMENT, L.P. acquired Company’s shares for reported $25.0 million on Jan 20. In the deal valued at $13.00 per share,1,923,076 shares were bought. As a result of this transaction, RA CAPITAL MANAGEMENT, L.P. now holds 11,609,704 shares worth roughly $ 52.36 million.
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Then, Gould Robert J sold 6,766 shares, generating $101,490 in total proceeds. Upon selling the shares at $15.00, the Interim President & CEO now owns 499,864 shares.
Before that, RA CAPITAL MANAGEMENT, L.P. bought 180,703 shares. Fulcrum Therapeutics Inc. shares valued at $1,314,806 were divested by the 10% Owner at a price of $7.28 per share. As a result of the transaction, RA CAPITAL MANAGEMENT, L.P. now holds 9,686,628 shares, worth roughly $43.69 million.
H.C. Wainwright downgraded its Fulcrum Therapeutics Inc. [FULC] rating to a Neutral from a a Buy in a research note published on Friday, March 10, 2023; the price target was decreased to $6 from $20. PT values the company’s stock at a premium of 24.83 to its Friday closing price. A number of analysts have revised their coverage, including Credit Suisse’s analysts, who decreased its forecast for the stock in early March from “an Outperform” to “a Neutral”. Stifel also remained covering FULC and has decreased its forecast on March 09, 2023 with a “Hold” recommendation from previously “Buy” rating. Morgan Stanley revised its rating on February 28, 2023. It rated FULC as “an Equal-weight” which previously was an “an Overweight”.
Price Performance Review of FULC
On Friday, Fulcrum Therapeutics Inc. [NASDAQ:FULC] saw its stock fall -6.43% to $4.51. On the same session, the stock had its day’s lowest price of $4.22, but rose to a high of $4.72. Over the last five days, the stock has lost -24.71%. Fulcrum Therapeutics Inc. shares have fallen nearly -38.05% since the year began. Nevertheless, the stocks have fallen -71.69% over the past one year. While a 52-week high of $24.79 was reached on 01/13/23, a 52-week low of $3.21 was recorded on 03/10/23. SMA at 50 days reached $10.51, while 200 days put it at $7.66. A total of 2.22 million shares were traded, compared to the trading of 3.39 million shares in the previous session.
Levels Of Support And Resistance For FULC Stock
The 24-hour chart illustrates a support level at 4.25, which if violated will result in even more drops to 3.98. On the upside, there is a resistance level at 4.75. A further resistance level may holdings at 4.98. The Relative Strength Index (RSI) on the 14-day chart is 22.14, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.06, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 96.72%. Stochastics %K at 6.13% indicates the stock is a buying.
How much short interest is there in Fulcrum Therapeutics Inc.?
A steep rise in short interest was recorded in Fulcrum Therapeutics Inc. stocks on Jan 30, 2023, dropping by 40000.0 shares to a total of 3.54 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 3.58 million shares. There was a decline of -1.13%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 7.28% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.89.
Fulcrum Therapeutics Inc. [FULC] – Who Are The Largest Shareholders?
In filings from RA Capital Management LP, it is revealed that the company now owns 11,609,704 shares, or roughly 18.83% of the outstanding FULC shares. In other words, the investor’s shares have risen by 2,103,779 from its previous 13-F filing of 9505925.0. Additionally, Fidelity Management & Research Co decreased -32.94% of its stake after which the total value it holdings stand at $31,611,699, while RTW Investments LP added 25.27% of its stake to hold $30.16 million in the firm. Over the last quarter, Suvretta Capital Management LLC purchased 746,803 shares of Fulcrum Therapeutics Inc., while Adage Capital Management LP bought 2,350,547 shares. At present, BlackRock Fund Advisors is holding 2,874,194 shares valued at $17.36 million. The Vanguard Group, Inc. owned 2,050,080 shares of the company at the time of its most recent 13F filing, worth $12.38 million.
According to FactSet, Fulcrum Therapeutics Inc.’s share price will average $9.33 in the next year, based on opinions of analysts polled by the firm. This is up nearly 65.98 percent from its previous closing price of $4.82. Analysts expect Fulcrum Therapeutics Inc. stock to reach the higher price of $20.00, while the lowest price estimate is $5.00. However, 9 analysts have rated FULC stock as an Overweight in their predictions for 2023.