your badges 52W Range $3–$16 7% of range Analyst Rating HOLD 11 analysts Price Target $4 P/E -3.1 ROE -26.6% Net Profit Margin ·

FULC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $3.69
Market Cap (MRQ) $281M
P/E -3.1
EPS $-1.18
Revenue $0
ROE -26.6%
52W Range $3–$16

FULC Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

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About Fulcrum Therapeutics, Inc. - Common Stock Company overview from Wikipedia

05 · wikidata
sectorHealthcare industryPharmaceuticals employees9 countryUS

10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$0
2020-12-31 → 2025-12-31
EPS$-1.18
2020-12-31 → 2025-12-31
Free Cash Flow$-60M
2019-12-31 → 2025-12-31
Net margin·
2020-12-31 → 2024-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend FULC 5Y avg Peer Median Verdict
P/E -3.15Y avg ≈-10.8 ≈-10.8 · ·
P/B (MRQ) 0.95Y avg ≈1.7 ≈1.7 2.3 Undervalued
Price / FCF (TTM) -4.35Y avg ≈-30.6 ≈-30.6 · ·
Price / Cash Flow (TTM) -4.35Y avg ≈-33.8 ≈-33.8 · ·
Price / Tangible Book 0.75Y avg ≈2.1 ≈2.1 · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise 5.0%
Next Report Oct 27, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Jul 27, 2026 $-0.22 $-0.22 2.0%
March 31, 2026 $-0.25 $-0.30 17.8%
Dec. 31, 2025 $-0.31 $-0.32 1.7%
Sept. 30, 2025 $-0.31 $-0.30 -3.5%
June 30, 2025 $-0.28 $-0.30 5.3%
March 31, 2025 $-0.28 $-0.30 6.6%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

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Income Statement 12
Metric Trend 202520242023202220212020
Revenue $0$80M$3M$6M$19M$9M
R&D Expense $56M$63M$72M$77M$70M$59M
SG&A Expense $29M$36M$42M$42M$31M$21M
Operating Expenses $85M$102M$113M$119M$100M$80M
Operating Income $-85M$-22M$-111M$-113M$-81M$-72M
Income Tax $0$0····
Net Income $-75M$-10M$-97M$-110M$-81M$-71M
EPS (Basic) $-1.18$-0.16$-1.59$-2.44$-2.29$-2.79
EPS (Diluted) $-1.18$-0.16$-1.59$-2.44$-2.29$-2.79
Shares (Basic) 63,35561,98461,31044,99135,36125,354
Shares (Diluted) 63,35561,98461,31044,99135,36125,354
EBITDA $-85M$-22M$-111M$-113M·$-72M
Balance Sheet 21
Metric Trend 202520242023202220212020
Cash & Equivalents $198M$58M$26M$35M$35M$57M
Prepaid Expense $5M$7M$5M$4M$4M$4M
Other Current Assets ····$0$74.0K
Current Assets $357M$250M$242M$208M$226M$120M
PP&E (Net) $3M$4M$5M$7M$7M$8M
PP&E (Gross) $18M$18M$18M$18M$16M$15M
Accum. Depreciation $16M$14M$13M$11M$8M$6M
Other Non-current Assets $538.0K$10.0K$2M$2M$542.0K$578.0K
Total Assets $366M$261M$258M$227M$235M$130M
Accounts Payable $2M$1M$3M$4M$5M$4M
Current Liabilities $13M$11M$14M$17M$19M$27M
Capital Leases $4M$6M$9M$11M$0·
Other Non-current Liabilities $197.0K$197.0K$197.0K$197.0K$0·
Total Liabilities $17M$18M$23M$28M$23M$34M
Common Stock $67.0K$54.0K$62.0K$52.0K$41.0K$28.0K
Retained Earnings $-594M$-519M$-510M$-412M$-302M$-222M
Treasury Stock ···$0$0·
AOCI $174.0K$130.0K$-136.0K$-797.0K$-397.0K$-2.0K
Stockholders' Equity $349M$243M$235M$199M$212M$95M
Liabilities + Equity $366M$261M$258M$227M$235M$130M
Shares Outstanding 66,578,89153,968,30361,915,36752,099,21140,626,22427,941,566
Cash Flow 10
Metric Trend 202520242023202220212020
Stock-based Comp $12M$15M$15M$13M$11M$7M
Restructuring $400.0K$2M·$400.0K··
Operating Cash Flow $-60M$-2M$-91M$-97M$-78M$-54M
CapEx $314.0K$278.0K$508.0K$2M$2M$1M
Investing Cash Flow $31M$32M$-37M$12M$-130M$-57M
Stock Issued $4M$3M$777.0K$4M$4M$1M
Net Stock Activity $4M$3M$777.0K$4M·$1M
Financing Cash Flow $169M$3M$118M$84M$187M$71M
Net Change in Cash $139M$33M$-10M$-314.0K$-22M$-40M
Free Cash Flow $-60M$-2M$-91M$-99M·$-55M
Profitability 5
Metric Trend 202520242023202220212020
Operating Margin ·-27.4%-3945.2%-1774.8%·-811.6%
Net Margin ·-12.2%-3470.0%-1732.4%·-802.7%
EBITDA Margin ·-27.4%-3945.2%-1774.8%·-811.6%
ROA -23.9%-3.8%-40.2%-47.6%·-59.0%
ROE -26.6%-3.9%-39.7%-52.3%·-70.8%
Liquidity & Solvency 2
Metric Trend 202520242023202220212020
Current Ratio 27.422.617.712.4·4.5
Quick Ratio 15.15.31.92.1·2.1
Efficiency 1
Metric Trend 202520242023202220212020
Asset Turnover 0.00.30.00.0·0.1
Per Share 5
Metric Trend 202520242023202220212020
Book Value / Share $5.24$4.50$3.80$3.82·$3.41
Revenue / Share $0.00$1290.66$45.75$140.96··
Cash Flow / Share $-948.07$-35.78$-1483.69$-2157.10··
Cash / Share $2.97$1.08$0.41$0.67·$2.04
EPS (TTM) $-1.18$-0.16$-1.59$-2.44$-2.29$-2.79
Growth Rates 2
Metric Trend 202520242023202220212020
Revenue YoY ·2752.0%-55.8%-66.9%117.2%·
Revenue CAGR 3Y ·61.0%-31.8%···
Valuation (TTM) 10
Metric Trend 202520242023202220212020
Revenue TTM $0$80M$3M$6M$19M$9M
Net Income TTM $-75M$-10M$-97M$-110M$-81M$-71M
Market Cap $753M$254M$418M$379M·$327M
P/E -9.6-29.4-4.2-3.0-7.7-4.2
P/S ·3.2149.059.8·37.1
P/B 2.21.01.81.9·3.4
P / Tangible Book 2.21.01.81.93.43.4
P / Cash Flow -12.5-114.4-4.6-3.9·-6.1
P / FCF -12.5-101.6-4.6-3.8·-5.9
Earnings Yield -10.4%-3.4%-23.6%-33.5%-13.0%-23.8%

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $0 $80M $3M $6M $19M
Operating Margin % · -27.4% -3945.2% -1774.8% ·
Net Income $-75M $-10M $-97M $-110M $-81M
Diluted EPS $-1.18 $-0.16 $-1.59 $-2.44 $-2.29

Institutional owners (13F) 167 filers · $328.0M total · As of June 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 167
Value held $328.0M
New positions 30
Exited positions 40
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
30 (-8 vs prior Q) 40 (+4 vs prior Q) 75 (0 vs prior Q) 35 (-4 vs prior Q) +7.5M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
VANGUARD GROUP INC $40,258,533 3,559,552 12.28% Shares
BlackRock, Inc. $32,296,788 8,824,259 9.85% Shares
EcoR1 Capital, LLC $23,972,510 6,549,866 7.31% Shares
TANG CAPITAL MANAGEMENT LLC $23,868,368 6,521,412 7.28% Shares
Nantahala Capital Management, LLC $20,038,646 5,475,040 6.11% Shares
MONTANOVA CAPITAL, LLC $13,472,171 3,680,921 4.11% Shares
D. E. Shaw & Co., Inc. $11,142,449 3,044,385 3.40% Shares
CITADEL ADVISORS LLC $9,898,488 2,704,505 3.02% Shares
VANGUARD CAPITAL MANAGEMENT LLC $9,871,811 2,697,216 3.01% Shares
JANE STREET GROUP, LLC $8,116,043 2,217,498 2.47% Shares
STATE STREET CORP $7,455,512 2,037,025 2.27% Shares
ADAGE CAPITAL PARTNERS GP, L.L.C. $7,320,000 2,000,000 2.23% Shares
GSK plc $6,535,713 1,785,714 1.99% Shares
Qube Research & Technologies Ltd $6,399,389 1,748,467 1.95% Shares
RENAISSANCE TECHNOLOGIES LLC $6,030,948 1,647,800 1.84% Shares
ADAR1 Capital Management, LLC $5,728,006 1,565,029 1.75% Shares
MILLENNIUM MANAGEMENT LLC $5,438,039 1,485,803 1.66% Shares
GEODE CAPITAL MANAGEMENT, LLC $5,242,680 1,432,133 1.60% Shares
MARSHALL WACE, LLP $4,971,828 1,358,423 1.52% Shares
UBS Group AG $4,589,307 1,253,909 1.40% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $4,322,262 1,180,946 1.32% Shares
AQR CAPITAL MANAGEMENT LLC $4,037,935 1,103,261 1.23% Shares
GOLDMAN SACHS GROUP INC $4,005,595 1,094,425 1.22% Shares
Ikarian Capital, LLC $3,839,929 1,049,161 1.17% Shares
BANK OF AMERICA CORP /DE/ $3,817,486 1,043,029 1.16% Shares
Jump Financial, LLC $3,678,300 1,005,000 1.12% Shares
DIMENSIONAL FUND ADVISORS LP $3,515,976 960,547 1.07% Shares
Assenagon Asset Management S.A. $3,056,847 835,204 0.93% Shares
TWO SIGMA INVESTMENTS, LP $2,974,724 812,766 0.91% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $2,862,647 782,144 0.87% Shares
Connor, Clark & Lunn Investment Management Ltd. $2,727,860 745,317 0.83% Shares
Balyasny Asset Management L.P. $2,534,082 692,372 0.77% Shares
Y-Intercept (Hong Kong) Ltd $2,495,505 681,832 0.76% Shares
Point72 Asset Management, L.P. $2,384,223 651,427 0.73% Shares
NORTHERN TRUST CORP $1,785,600 487,869 0.54% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $1,585,585 433,220 0.48% Shares
VANGUARD FIDUCIARY TRUST CO $1,265,072 345,648 0.39% Shares
BOOTHBAY FUND MANAGEMENT, LLC $1,112,596 303,988 0.34% Shares
Peapod Lane Capital LLC $1,046,021 285,798 0.32% Shares
WELLINGTON MANAGEMENT GROUP LLP $1,043,408 285,084 0.32% Shares
Engineers Gate Manager LP $885,720 242,000 0.27% Shares
EntryPoint Capital, LLC $794,948 217,199 0.24% Shares
XTX Topco Ltd $765,844 209,247 0.23% Shares
CITADEL ADVISORS LLC $743,712 203,200 0.23% Put option
Quadrature Capital Ltd $692,176 189,119 0.21% Shares
MORGAN STANLEY $674,143 184,192 0.21% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $641,964 175,400 0.20% Put option
ALLIANCEBERNSTEIN L.P. $639,448 83,370 0.19% Shares
AMERICAN CENTURY COMPANIES INC $570,477 155,868 0.17% Shares
Nuveen, LLC $566,828 154,871 0.17% Shares

Show all 167 institutional owners →

Company insiders 29 insiders · 13 officers · 13 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Alex Sapir President & Chief Executive Officer Feb. 2, 2026 A 193,360 0 0 $0
Bryan Stuart President & Chief Executive Officer Jan. 19, 2022 A 0 0 0 $0
Esther Rajavelu Chief Financial Officer Feb. 9, 2023 A · 0 0 $0
Judith Dunn President, Research & Development Jan. 19, 2022 A · 0 0 $0
Melvin H. Hayes III Chief Operating Officer April 26, 2023 A · 0 0 $0
Greg Tourangeau Principal Accounting Officer Feb. 2, 2026 A 14,062 0 0 $0
Curtis Gale Oltmans Chief Legal Officer Feb. 2, 2026 A 10,252 0 1 $-44,600
Patrick Taylor Horn Chief Medical Officer March 18, 2024 A · 0 0 $0
Santiago Arroyo Chief Medical Officer Nov. 7, 2022 A · 0 0 $0
Christopher Morabito Chief Medical Officer Jan. 19, 2022 A 1,100 0 0 $0
Christopher Moxham Chief Scientific Officer Aug. 10, 2021 M 0 0 0 $0
Owen B. Wallace Chief Scientific Officer Sept. 14, 2020 M 133,438 0 0 $0
Diego Cadavid SVP Clinical Development July 1, 2020 S 65,714 0 0 $0
Sonja Banks Director June 30, 2026 A · 0 0 $0
Alan Ezekowitz Director June 30, 2026 A 10,927 0 1 $-65,700
Colin Hill Director June 30, 2026 A · 0 0 $0
Kate Haviland Director June 30, 2026 A · 0 0 $0
Katina Dorton Director June 30, 2026 A · 0 0 $0
Rachel K. King Director June 30, 2026 A · 0 0 $0
Robert J Gould Director June 30, 2026 A 469,864 0 4 $-667,350
James A Geraghty Director June 30, 2026 A 90,714 0 0 $0
Joshua Lehrer-Graiwer Director April 23, 2026 A · 0 0 $0
James J. Collins Director June 17, 2024 A · 0 0 $0
Mark J Levin Director Nov. 10, 2021 J 3,962,202 0 0 $0
6 Dimensions Capital, L.P. 10% owner July 22, 2019 C 559,821 0 0 $0
GSK plc 10% owner July 22, 2019 C 1,785,714 0 0 $0
Sanofi 10% owner July 22, 2019 C 558,035 0 0 $0
Alan A Musso · Feb. 2, 2026 A · 0 0 $0
Peter G. Thomson · Jan. 19, 2022 A 2,300 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 20 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
PILL · Direxion Shares ETF Trust 0.50% 29,016 NS July 31, 2026 N-PORT
IWC · iShares Trust 0.05% 202,049 SH Sept. 10, 2026 Daily
IBB · iShares Trust 0.02% 555,962 SH Sept. 11, 2026 Daily
IBBQ · Invesco Exchange-Traded Fund Trust … 0.02% 5,408 SH Oct. 2, 2026 Daily
PRFZ · Invesco Exchange-Traded Fund Trust 0.01% 103,543 SH Oct. 2, 2026 Daily
VFMO · VANGUARD WELLINGTON FUND 0.01% 53,282 SH Aug. 19, 2026 Daily
VTWO · VANGUARD SCOTTSDALE FUNDS 0.01% 341,378 SH Aug. 19, 2026 Daily
VTWV · VANGUARD SCOTTSDALE FUNDS 0.01% 50,849 SH Aug. 19, 2026 Daily
IWM · iShares Trust 0.01% 1,524,331 SH Sept. 11, 2026 Daily
RSSL · Global X Funds 0.01% 28,359 NS July 31, 2026 N-PORT
DFAS · Dimensional ETF Trust 0.00% 54,992 NS July 31, 2026 N-PORT
DFAC · Dimensional ETF Trust 0.00% 93,958 NS July 31, 2026 N-PORT
ITOT · iShares Trust 0.00% 110,448 SH Sept. 11, 2026 Daily
IWV · iShares Trust 0.00% 23,393 SH Sept. 3, 2026 Daily
DFUS · Dimensional ETF Trust 0.00% 10,048 NS July 31, 2026 N-PORT
VXF · VANGUARD INDEX FUNDS 0.00% 553,375 SH Aug. 19, 2026 Daily
VTI · VANGUARD INDEX FUNDS 0.00% 2,074,332 SH Aug. 19, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.00% 5,108 SH Aug. 19, 2026 Daily
VHT · VANGUARD WORLD FUND 0.00% 140,406 SH Aug. 19, 2026 Daily
IWN · iShares Trust · 564,368 SH Sept. 11, 2026 Daily

FULC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 11 analysts SELL
Median target $4.00 +8.4%
0 0.0% Strong Buy
0 0.0% Buy
7 63.6% Hold
2 18.2% Sell
2 18.2% Strong Sell

12-Month Price Target

3 analysts · 2026-09-20

Mean target $3.67 -0.6%

Now Current price $3.69
Low$3.00 Mean$3.67 High$4.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
FULC $753M -9.6 2752.0% · -26.6% ·
BIOA $495M -5.9 · -896.1% -28.4% ·
EYPT $1.51B -5.8 -27.5% -739.4% -84.0% ·
SIGA $438M 19.1 -31.8% 24.6% 11.4% ·
ANTX $31M -1.0 · · -57.7% ·
LLY · 46.8 44.7% 31.7% 101.2% ·

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

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Source: SEC 10-Q filed Jul 30, 2026