Shares of Fulcrum Therapeutics (NASDAQ: FULC) have recently seen significant changes in both analyst ratings and insider trading activities. Several firms have updated their price targets and ratings for the company’s stock, reflecting a shift in market sentiment.
In a notable insider transaction, Ra Capital Management, L.P., a major shareholder, sold 4,175,139 shares of Fulcrum Therapeutics on December 8, 2023. The shares were sold at an average price of $13.98, resulting in a total transaction value of approximately $58,368,443.22. Following this sale, Ra Capital Management holds 6,053,960 shares in Fulcrum, which are now valued at around $84,634,360.80. This sale marked a 40.82% decrease in their position.
Additionally, Robert J. Gould, a director at Fulcrum Therapeutics, sold 15,000 shares on November 19, 2023, fetching an average price of $11.03 per share. This transaction totaled $165,450.00 and resulted in a 3.00% reduction in Gould’s holdings, leaving him with 484,864 shares valued at approximately $5,348,049.92. Corporate insiders currently own 7.00% of the company’s stock.
Key Developments in Fulcrum’s Programs
Fulcrum Therapeutics is advancing several important programs, including FTX-6058, an oral therapeutic candidate aimed at increasing fetal hemoglobin levels in patients suffering from sickle cell disease and beta-thalassemia. The company is also developing a preclinical program focused on treating facioscapulohumeral muscular dystrophy (FSHD) by targeting a critical epigenetic driver of abnormal gene expression.
The modifications in analyst ratings and insider transactions at Fulcrum Therapeutics come amid ongoing developments in the biotech sector, which remains highly competitive and innovative. As the company continues to progress in its research and development efforts, market participants will likely keep a close eye on further insider activities and market responses.
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