FULCRUM THERAPEUTICS INC FULC
COM · Common Stock · CUSIP 359616109
Company in Cambridge, United States
- SectorHealth care
- IndustryPharmaceutical Preparations
- HeadquartersCambridge, MA
- Founded2016
- Websitefulcrumtx.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($18.8k this quarter). Holder counts are more reliable. Shares outstanding: 76.3m as of 2026-07-23, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $3.66. Options: 8 managers hold calls ($3.4m notional), 6 hold puts ($2.1m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 106 |
| Q4 2022 | 111 |
| Q1 2023 | 117 |
| Q2 2023 | 89 |
| Q3 2023 | 82 |
| Q4 2023 | 102 |
| Q1 2024 | 127 |
| Q2 2024 | 122 |
| Q3 2024 | 131 |
| Q4 2024 | 120 |
| Q1 2025 | 118 |
| Q2 2025 | 123 |
| Q3 2025 | 129 |
| Q4 2025 | 172 |
| Q1 2026 | 169 |
| Q2 2026 | 155 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 73 | 69 |
| Q4 2024 | 52 | 73 |
| Q1 2025 | 48 | 61 |
| Q2 2025 | 58 | 65 |
| Q3 2025 | 67 | 60 |
| Q4 2025 | 100 | 65 |
| Q1 2026 | 105 | 77 |
| Q2 2026 | 102 | 76 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $1.6m | $125.1k | 0.08 |
| Q4 2025 | $8.9m | $2.7m | 0.30 |
| Q1 2026 | $7.4m | $1.4m | 0.18 |
| Q2 2026 | $3.4m | $2.1m | 0.61 |
Biggest buyers
| Nantahala Capital Management, LLC | Added | +7.9m |
| EcoR1 Capital, LLC | New | +6.5m |
| TANG CAPITAL MANAGEMENT LLC | New | +6.5m |
| BlackRock, Inc. | Added | +3.4m |
| JANE STREET GROUP, LLC | Added | +1.9m |
| RENAISSANCE TECHNOLOGIES LLC | Added | +1.6m |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | Added | +1.6m |
| ADAR1 Capital Management, LLC | Added | +1.4m |
| D. E. Shaw & Co., Inc. | Added | +1.4m |
| CITADEL ADVISORS LLC | Added | +1.4m |
Biggest sellers
| RA CAPITAL MANAGEMENT, L.P. | Sold out | -6.1m |
| TCG Crossover Management, LLC | Sold out | -5.2m |
| BRAIDWELL LP | Sold out | -3.1m |
| MONTANOVA CAPITAL, LLC | Reduced | -2.9m |
| Siren, L.L.C. | Sold out | -2.4m |
| First Turn Management, LLC | Sold out | -2.3m |
| Aberdeen Group plc | Sold out | -2.2m |
| Jones Hill Capital LP | Sold out | -1.8m |
| Point72 Asset Management, L.P. | Reduced | -1.4m |
| Alyeska Investment Group, L.P. | Sold out | -1.3m |
Biggest calls
| SILVERARC CAPITAL MANAGEMENT, LLC | Unchanged | $1.4m391.9k shares |
| SIMPLEX TRADING, LLC | New | $900.4k246.0k shares |
| GROUP ONE TRADING LLC | Added | $444.0k121.3k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $263.5k72.0k shares |
| JANE STREET GROUP, LLC | New | $161.8k44.2k shares |
| CITADEL ADVISORS LLC | Added | $124.4k34.0k shares |
| IMC-Chicago, LLC | New | $53.8k14.7k shares |
| LMR Partners LLP | New | $18.3k5.0k shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $743.7k203.2k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $642.0k175.4k shares |
| SIMPLEX TRADING, LLC | Added | $336.4k91.9k shares |
| GROUP ONE TRADING LLC | Added | $153.7k42.0k shares |
| IMC-Chicago, LLC | New | $113.1k30.9k shares |
| JANE STREET GROUP, LLC | Added | $87.8k24.0k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| TANG CAPITAL MANAGEMENT LLC 13G · passive investor +2.2 pts · filed 2026-07-15 | 10.4% |
| EcoR1 Capital, LLC 13G · institution no change · filed 2026-06-25 | 9.0% |
| Nantahala Capital Management, LLC 13G · institution +3.6 pts · filed 2026-08-14 | 8.2% |
| BlackRock Portfolio Management LLC 13G · institution +2.1 pts · filed 2026-10-27 | 8.1% |
| BlackRock, Inc. 13G · institution +1.2 pts · filed 2026-07-28 | 7.2% |
| MONTANOVA CAPITAL, LLC 13G · institution -3.9 pts · filed 2026-08-14 | 5.5% |
Fell to 5% or below in the last year: BANK OF AMERICA CORP /DE/ (1.5%, 2026-10-28), RA CAPITAL MANAGEMENT, L.P. (0.0%, 2026-08-14), TCG Crossover GP II, LLC (0.0%, 2026-08-14), VANGUARD GROUP INC (0.0%, 2026-03-26), Adage Capital Management, L.P. (4.5%, 2025-11-13)
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 1 | $2.5k | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 2 | $210.0k | — |
| Q1 2026 | 0 | — | 1 | $323.9k | — |
| Q2 2026 | 0 | — | 1 | $65.7k | — |
| Q3 2026 | 0 | — | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-07-17 | TANG KEVIN +1 10% owner · See Footnote | Bought | $179.3k50.9k shares |
| 2026-07-16 | TANG KEVIN +1 10% owner · See Footnote | Bought | $415.3k116.7k shares |
| 2026-07-15 | TANG KEVIN +1 10% owner · See Footnote | Bought | $382.3k107.4k shares |
| 2026-07-14 | TANG KEVIN +1 10% owner · See Footnote | Bought | $462.9k129.6k shares |
| 2026-07-13 | TANG KEVIN +1 10% owner · See Footnote | Bought | $45.9k13.0k shares |
| 2026-06-26 | Ezekowitz Alan Director | Sold | $65.7k18.0k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| Nantahala Capital Management, LLC 1.21% of their portfolio | 11.0m $40.1m | Added +7.9m |
| BlackRock, Inc. 0.00% of their portfolio | 8.8m $32.3m | Added +3.4m |
| EcoR1 Capital, LLC 1.19% of their portfolio | 6.5m $24.0m | New |
| TANG CAPITAL MANAGEMENT LLC 1.08% of their portfolio | 6.5m $23.9m | New |
| MONTANOVA CAPITAL, LLC 0.28% of their portfolio | 3.7m $13.5m | Reduced -2.9m |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 3.0m $11.1m | Added +1.4m |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 2.7m $9.9m | Added +1.4m |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 2.7m $9.9m | Added +4.3k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 2.2m $8.1m | Added +1.9m |
| STATE STREET CORP 0.00% of their portfolio | 2.0m $7.5m | Added +487.2k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.01% of their portfolio | 2.0m $7.3m | Added +1.6m |
| GSK plc 1.09% of their portfolio | 1.8m $6.5m | Unchanged |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 1.7m $6.4m | Added +773.7k |
| Assenagon Asset Management S.A. 0.00% of their portfolio | 1.7m $6.1m | Added +476.5k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 1.6m $6.0m | Added +1.6m |
| ADAR1 Capital Management, LLC 0.27% of their portfolio | 1.6m $5.7m | Added +1.4m |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 1.5m $5.4m | Added +1.1m |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 1.4m $5.2m | Reduced -54.4k |
| MARSHALL WACE, LLP 0.00% of their portfolio | 1.4m $5.0m | New |
| UBS Group AG 0.00% of their portfolio | 1.3m $4.6m | Added +938.7k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 1.2m $4.3m | Added +1.1m |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 1.1m $4.0m | Added +560.1k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 1.1m $4.0m | Added +522.5k |
| Ikarian Capital, LLC 0.63% of their portfolio | 1.0m $3.8m | Unchanged |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 1.0m $3.8m | Added +916.5k |
| ACADIAN ASSET MANAGEMENT LLC 0.00% of their portfolio | 1.0m $3.8m | Added +311.5k |
| Jump Financial, LLC 0.03% of their portfolio | 1.0m $3.7m | Added +635.2k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 960.5k $3.5m | Reduced -169.7k |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 812.8k $3.0m | Added +673.8k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 782.1k $2.9m | Added +182.8k |
| Connor, Clark & Lunn Investment Management Ltd. 0.01% of their portfolio | 745.3k $2.7m | Added +8.6k |
| Balyasny Asset Management L.P. 0.00% of their portfolio | 692.4k $2.5m | Reduced -1.1m |
| Y-Intercept (Hong Kong) Ltd 0.05% of their portfolio | 681.8k $2.5m | Added +528.5k |
| Point72 Asset Management, L.P. 0.00% of their portfolio | 651.4k $2.4m | Reduced -1.4m |
| NORTHERN TRUST CORP 0.00% of their portfolio | 487.9k $1.8m | Added +14.9k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 433.2k $1.6m | Added +6.4k |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 345.6k $1.3m | Added +15.8k |
| BOOTHBAY FUND MANAGEMENT, LLC 0.02% of their portfolio | 304.0k $1.1m | Unchanged |
| BESSEMER GROUP INC 0.00% of their portfolio | 287.0k $1.1m | Unchanged |
| Peapod Lane Capital LLC 0.71% of their portfolio | 285.8k $1.0m | New |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 285.1k $1.0m | Added +166.5k |
| Engineers Gate Manager LP 0.01% of their portfolio | 242.0k $885.7k | Added +115.9k |
| Hennion & Walsh Asset Management, Inc. 0.02% of their portfolio | 233.9k $855.9k | New |
| EntryPoint Capital, LLC 0.19% of their portfolio | 217.2k $794.9k | Added +172.0k |
| XTX Topco Ltd 0.01% of their portfolio | 209.2k $765.8k | Added +137.6k |
| Quadrature Capital Ltd 0.01% of their portfolio | 189.1k $692.2k | New |
| MORGAN STANLEY 0.00% of their portfolio | 184.2k $674.1k | Added +10.9k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 155.9k $570.5k | Reduced -374 |
| Nuveen, LLC 0.00% of their portfolio | 154.9k $566.8k | Added +25.3k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 154.5k $565.5k | Added +4.6k |
| Simplify Asset Management Inc. 0.01% of their portfolio | 153.8k $562.9k | Added +37.8k |
| GSA CAPITAL PARTNERS LLP 0.03% of their portfolio | 143.9k $527.0k | Added +7.2k |
| Fiduciary Trust Co 0.01% of their portfolio | 136.6k $499.8k | Unchanged |
| Squarepoint Ops LLC 0.00% of their portfolio | 126.6k $463.2k | Reduced -49.4k |
| Verdad Advisers, LP 0.44% of their portfolio | 125.2k $458.3k | New |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 119.0k $435.7k | Added +104.9k |
| Rangeley Capital, LLC 0.39% of their portfolio | 114.9k $420.5k | New |
| Invesco Ltd. 0.00% of their portfolio | 113.3k $414.7k | Added +2.2k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 109.4k $426.5k | Added +50.7k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 104.2k $381.4k | Added +25.0k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio | 102.4k $374.8k | Added +84.0k |
| ALGERT GLOBAL LLC 0.00% of their portfolio | 101.4k $371.0k | Added +68.3k |
| PANAGORA ASSET MANAGEMENT INC 0.00% of their portfolio | 95.5k $349.6k | Reduced -148.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 94.2k $345.0k | Added +14.1k |
| FMR LLC 0.00% of their portfolio | 92.3k $337.9k | Added +31.3k |
| Headlands Technologies LLC 0.03% of their portfolio | 89.7k $328.4k | New |
| Susquehanna Portfolio Strategies, LLC 0.00% of their portfolio | 85.6k $313.2k | Added +66.3k |
| BARCLAYS PLC 0.00% of their portfolio | 83.4k $305.1k | Reduced -5.1k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 83.4k $639.4k | Added +48.8k |
| AXQ CAPITAL, LP 0.03% of their portfolio | 81.5k $298.2k | Added +59.4k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 73.4k $268.8k | Added +7.3k |
| RBF Capital, LLC 0.01% of their portfolio | 70.0k $256.2k | Unchanged |
| PRELUDE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 67.9k $248.4k | New |
| ALPS ADVISORS INC 0.00% of their portfolio | 67.6k $247.5k | New |
| CITIGROUP INC 0.00% of their portfolio | 62.8k $229.8k | Added +39.3k |
| FOX RUN MANAGEMENT, L.L.C. 0.03% of their portfolio | 56.4k $206.6k | New |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 52.4k $191.7k | Added +3.6k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 49.7k $181.9k | Added +27.1k |
| STRS OHIO 0.00% of their portfolio | 46.2k $169.1k | Reduced -3.1k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 41.4k $154.3k | Added +11.6k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 40.0k $146.4k | Reduced -290 |
| Marquette Asset Management, LLC 0.02% of their portfolio | 38.6k $141.1k | New |
| MetLife Investment Management, LLC 0.00% of their portfolio | 34.1k $124.7k | Added +915 |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 34.1k $124.7k | Reduced -20.6k |
| PROFUND ADVISORS LLC 0.00% of their portfolio | 32.5k $119.0k | Added +17.0k |
| State of Alaska, Department of Revenue 0.00% of their portfolio | 31.0k $113.0k | New |
| SEI INVESTMENTS CO 0.00% of their portfolio | 30.7k $112.3k | New |
| COUNTRY TRUST BANK 0.00% of their portfolio | 30.0k $110.0k | Unchanged |
| LMR Partners LLP 0.00% of their portfolio | 30.0k $109.8k | Unchanged |
| Aigen Investment Management, LP 0.03% of their portfolio | 29.5k $108.0k | New |
| Scientech Research LLC 0.08% of their portfolio | 28.6k $104.6k | New |
| Mariner, LLC 0.00% of their portfolio | 28.1k $102.9k | Added +4.8k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 27.3k $100.0k | Reduced -755 |
| Graham Capital Management, L.P. 0.00% of their portfolio | 25.1k $91.7k | Reduced -17.7k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio | 25.1k $91.7k | New |
| Rafferty Asset Management, LLC 0.00% of their portfolio | 24.5k $89.8k | New |
| Creative Planning 0.00% of their portfolio | 21.4k $78.2k | Reduced -42.7k |
| MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio | 21.4k $78.2k | Added +10.5k |
| Castleview Partners, LLC 0.03% of their portfolio | 19.1k $69.9k | New |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 18.9k $69.0k | Reduced -19.7k |