5 Biotech Stocks Popular On Reddit

4. Fulcrum Therapeutics, Inc. (NASDAQ: FULC)

Number of Hedge Fund Holders: 17

Price as of August 16: $21.74

Fulcrum Therapeutics, Inc. (NASDAQ: FULC) is a biotech company based in Massachusetts that ranks 4th on the list of 11 biotech stocks popular on Reddit. The clinical-stage biopharma company specializes in drug development for genetic disorders such as sickle cell anemia and facioscapulohumeral muscular dystrophy.

The stock has gained over 125% in the previous month following positive early-stage results for sickle cell disease therapy. Fulcrum Therapeutics, Inc. (NASDAQ: FULC) announced on August 10 that it will begin enrolling sickle cell patients in a Phase 1b clinical trial in the fourth quarter of 2021.

On August 11, Morgan Stanley analyst Matthew Harrison upgraded Fulcrum Therapeutics, Inc. (NASDAQ: FULC) from Equal-Weight to Overweight and increased the firm’s price target to $34 per share from the previous $12, claiming that the company’s market value could double driven by the company’s sickle cell disease drug portfolio.

The company has a market cap of $711 million. In the second quarter of 2021, Fulcrum Therapeutics, Inc. (NASDAQ: FULC) reported an EPS of -$0.60, beating estimates by $0.05. The company’s revenue in the second quarter came in at $4.38 million, beating revenue estimates by $2.46 million. 

At the end of the first quarter of 2021, 17 hedge funds in the database of Insider Monkey held stakes worth $86.3 million in Fulcrum Therapeutics, Inc. (NASDAQ: FULC).