Fulcrum Therapeutics’ (NASDAQ:FULC) quiet period is set to end on Tuesday, August 27th. Fulcrum Therapeutics had issued 4,500,000 shares in its initial public offering on July 18th. The total size of the offering was $72,000,000 based on an initial share price of $16.00. During Fulcrum Therapeutics’ quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
FULC has been the subject of a number of research reports. Bank of America initiated coverage on shares of Fulcrum Therapeutics in a research note on Monday, August 12th. They issued a “buy” rating and a $19.00 price target for the company. Morgan Stanley initiated coverage on shares of Fulcrum Therapeutics in a research note on Monday, August 12th. They issued an “overweight” rating and a $29.00 price target for the company. Finally, Svb Leerink reissued an “outperform” rating on shares of Fulcrum Therapeutics in a research note on Monday, August 12th.
Shares of NASDAQ FULC opened at $10.14 on Monday. Fulcrum Therapeutics has a fifty-two week low of $8.19 and a fifty-two week high of $15.94.
In other Fulcrum Therapeutics news, Director Mark J. Levin bought 81,250 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was acquired at an average price of $16.00 per share, with a total value of $1,300,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder 6 Dimensions Capital, L.P. bought 118,750 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were acquired at an average cost of $16.00 per share, with a total value of $1,900,000.00. The disclosure for this purchase can be found here.
About Fulcrum Therapeutics
Fulcrum Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing 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 that are developing for the treatment of facioscapulohumeral muscular dystrophy, a rare, progressive, and disabling muscle wasting disorder that leads to significant physical impairments and disability; and FTX-HbF, a small molecule designed to upregulate fetal hemoglobin in patients with sickle cell disease and b-thalassemia.
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