Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 3.27MM shares of Fulcrum Therapeutics Inc (FULC). This represents 6.3% of the company.
In their previous filing dated February 4, 2022 they reported 2.21MM shares and 5.40% of the company, an increase in shares of 48.05% and an increase in total ownership of 0.90% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 77.06% Upside
As of February 1, 2023, the average one-year price target for Fulcrum Therapeutics is $22.33. The forecasts range from a low of $8.08 to a high of $36.75. The average price target represents an increase of 77.06% from its latest reported closing price of $12.61.
The projected annual revenue for Fulcrum Therapeutics is $6MM, a decrease of 46.41%. The projected annual EPS is $-2.15.
Fund Sentiment
There are 243 funds or institutions reporting positions in Fulcrum Therapeutics. This is a decrease of 9 owner(s) or 3.57%.
Average portfolio weight of all funds dedicated to US:FULC is 0.1661%, an increase of 49.7561%. Total shares owned by institutions increased in the last three months by 30.59% to 53,370K shares.
What are large shareholders doing?
Ra Capital Management holds 7,000,000 shares representing 11.35% ownership of the company.
Rtw Investments holds 3,985,910 shares representing 6.46% ownership of the company. In it's prior filing, the firm reported owning 3,961,194 shares, representing an increase of 0.62%. The firm increased its portfolio allocation in FULC by 48.24% over the last quarter.
Trv Gp Iii holds 3,962,202 shares representing 6.43% ownership of the company. No change in the last quarter.
Suvretta Capital Management holds 3,528,000 shares representing 5.72% ownership of the company. In it's prior filing, the firm reported owning 3,355,624 shares, representing an increase of 4.89%. The firm increased its portfolio allocation in FULC by 89.55% over the last quarter.
Cowen And Company holds 2,347,989 shares representing 3.81% ownership of the company. In it's prior filing, the firm reported owning 2,385,885 shares, representing a decrease of 1.61%. The firm increased its portfolio allocation in FULC by 60.95% over the last quarter.
Fulcrum Therapeutics Background Information
(This description is provided by the company.)
Fulcrum Therapeutics is a clinical-stage biopharmaceutical company focused on improving the lives of patients with genetically defined rare diseases in areas of high unmet medical need. Fulcrum's proprietary product engine identifies drug targets which can modulate gene expression to treat the known root cause of gene mis-expression. The company has advanced losmapimod to Phase 2 clinical development for the treatment of facioscapulohumeral muscular dystrophy (FSHD). Fulcrum has also advanced FTX-6058, a small molecule designed to increase expression of fetal hemoglobin for the treatment of sickle cell disease and beta thalassemia into Phase 1 clinical development.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
