Fulcrum Therapeutics, Inc.

FULC • NASDAQ

Fulcrum Therapeutics, Inc. is a biotechnology company in the healthcare sector on NASDAQ, led by Alex C. Sapir, with a market cap of $857.6M. As of Q3 2025, 100% of shares are held by 127 institutional investors, with RA CAPITAL MANAGEMENT, LLC as the largest holder at 18.91%.

President and Chief Executive OfficerAlex C. Sapir

Market Cap$857.6M

Biotechnology

Healthcare

Employees89.0

Websitefulcrumtx.com

Country

United States of America

Overview

Overview of institutional ownership in FULC as of Q3 2025 with a market cap of $497.6M

All Institutions

Institutions: 127
Value Held: $495.3M
Shares Held: 53.8M
Avg Position: $3.9M
Median Position: $467.3K

Hedge Funds

Hedge Funds: 26
Value Held: $240.0M
Shares Held: 26.1M
Avg Position: $9.2M
Median Position: $1.0M

Ownership Breakdown

Institutional (non-HF)

51.3%

$255.3M

Hedge Funds

48.23%

$240.0M

Retail & Other

0.469%

$2.3M

Based on market cap of $497.6M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in FULC as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
RA CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	Michael Saulnier CFO	$94.1M 1.17% of portfolio	18.91% 10.2M shares	Q3 2022 Held for 3y 2m	$8.1B
SUVRETTA CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	Aaron Leonard Cowen CEO	$49.5M 1.50% of portfolio	9.95% 5.4M shares	Q1 2021 Held for 4y 8m	$3.3B
TCG Crossover Management, LLC Venture Capital	Chen Ming Yu Managing Partner	$48.3M 2.41% of portfolio	9.71% 5.3M shares	Q3 2024 Held for 1y 2m	$2.0B
N Nantahala Capital Management, LLC Hedge Fund•Multi-Strategy	Daniel J. Mack Managing Partner	$43.0M 2.66% of portfolio	8.63% 4.7M shares	Q3 2024 Held for 1y 2m	$1.6B
B BlackRock, Inc. Institution	-	$34.1M 0.00% of portfolio	6.85% 3.7M shares	Q3 2019 Held for 6y 2m	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$27.6M 0.00% of portfolio	5.55% 3.0M shares	Q3 2019 Held for 6y 2m	$6.69T
A ADAGE CAPITAL PARTNERS GP LLC Institution	-	$22.4M 0.04% of portfolio	4.50% 2.4M shares	Q3 2021 Held for 4y 2m	$63.0B
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	Dmitry Balyasny CIO	$13.3M 0.03% of portfolio	2.68% 1.5M shares	Q2 2025 Held for 5 months	$48.1B
D D. E. Shaw & Co., Inc. Institution	-	$13.3M 0.01% of portfolio	2.68% 1.4M shares	Q3 2021 Held for 4y 2m	$115.81B
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$12.0M 0.00% of portfolio	2.40% 1.3M shares	Q1 2021 Held for 4y 8m	$466.32B

Net Capital Flow

Institutional buying and selling activity for FULC in Q3 2025

Traded: −$288.2K
Buyers: 65
Sellers: 58
Total Bought: +$62.0M
Total Sold: −$62.3M
Avg Position: $3.5M

Biggest Buyers

Institution	Net Bought	Current Position
R ROYAL BANK OF CANADA Institution	+$9.2M +996.6K shares	$9.2M 1.0M shares
Ikarian Capital, LLC Hedge Fund•Event Driven	+$7.9M +860.7K shares	$11.9M 1.3M shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$6.3M +688.3K shares	$7.9M 854.6K shares
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	+$4.9M +537.0K shares	$6.2M 678.4K shares
N Nantahala Capital Management, LLC Hedge Fund•Multi-Strategy	+$3.5M +382.5K shares	$43.0M 4.7M shares
J JANE STREET GROUP, LLC Institution	+$2.8M +304.1K shares	$3.0M 321.5K shares
SUVRETTA CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	+$2.7M +298.1K shares	$49.5M 5.4M shares
A ADAR1 Capital Management, LLC Hedge Fund•Long/Short	+$2.7M +288.3K shares	$3.1M 341.6K shares
D D. E. Shaw & Co., Inc. Institution	+$2.5M +272.7K shares	$13.3M 1.4M shares
B BRAIDWELL LP Hedge Fund•Multi-Strategy	+$2.0M +219.5K shares	$2.0M 219.5K shares

Biggest Sellers

Institution	Net Sold	Current Position
A ADAGE CAPITAL PARTNERS GP LLC Institution	−$19.8M −2.2M shares	$22.4M 2.4M shares
B BlackRock, Inc. Institution	−$6.2M −672.3K shares	$34.1M 3.7M shares
Woodline Partners LP Hedge Fund•Long/Short	−$6.2M −897.6K shares	Sold Off 0 shares
GOLDMAN SACHS GROUP INC Institution	−$5.1M −557.2K shares	$5.4M 586.4K shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	−$3.4M −498.2K shares	Sold Off 0 shares
Invesco Ltd. ETF Provider	−$3.2M −346.5K shares	$1.1M 123.9K shares
Exome Asset Management LLC Hedge Fund•Sector	−$3.2M −346.2K shares	$909.0K 98.8K shares
GEODE CAPITAL MANAGEMENT LLC ETF Provider	−$1.7M −189.1K shares	$9.2M 1.0M shares
STATE STREET CORP Institution	−$1.4M −155.2K shares	$9.8M 1.1M shares
VANGUARD GROUP INC Institution	−$1.4M −147.0K shares	$27.6M 3.0M shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited FULC in Q3 2025

New Positions: 10
New Value: $2.0M
Exited Positions: 16
Exited Value: $12.6M

New Positions

Institution	Position Value
C Campbell & CO Investment Adviser LLC Hedge Fund•Quant Macro	$942.7K 102.5K shares
F FOX RUN MANAGEMENT, L.L.C. Hedge Fund•Quant	$467.3K 50.8K shares
Quantinno Capital Management LP Hedge Fund•Market Neutral	$226.8K 24.6K shares
P PharVision Advisers, LLC Hedge Fund•Long/Short	$219.6K 23.9K shares
GENWORTH FINANCIAL WEALTH MANAGEMENT, INC Long Only Manager	$88.4K 9.6K shares
Q Quarry LP Institution	$34.7K 3.8K shares
W WHITE BAY PT LLC Institution	$26.8K 2.9K shares
V Versant Capital Management, Inc RIA/Wealth	$16.6K 1.8K shares
O Optiver Holding B.V. Institution	$3.0K 322.0 shares
Hartland & Co., LLC RIA/Wealth	$37.0 4.0 shares

Exited Positions

Institution	Previous Position
Woodline Partners LP Hedge Fund•Long/Short	$6.2M 897.6K shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	$3.4M 498.2K shares
Catalio Capital Management, LP Venture Capital	$1.3M 188.3K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	$405.7K 59.0K shares
Integrated Quantitative Investments LLC Long Only Manager	$282.8K 41.1K shares
PDT Partners, LLC Hedge Fund•Quant	$187.7K 27.3K shares
S SHERBROOKE PARK ADVISERS LLC Hedge Fund•Quant	$187.1K 27.2K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	$124.2K 18.1K shares
E EVERGREEN CAPITAL MANAGEMENT LLC Institution	$113.5K 16.5K shares
ING INVESTMENT MANAGEMENT LLC Insurance Manager	$106.0K 15.4K shares

Options Activity

Institutions with the largest Call and Put options positions in FULC as of Q3 2025

Call Positions: 6
Call Value: $1.6M
Put Positions: 2
Put Value: $124.2K

Call Positions

Institution	Position Value
A ADAR1 Capital Management, LLC Hedge Fund•Long/Short	$690.0K 750.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$611.8K 665.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$316.5K 344.0 contracts
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	- - contracts
W WOLVERINE TRADING, LLC Institution	- - contracts
Ikarian Capital, LLC Hedge Fund•Event Driven	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$124.2K 135.0 contracts
J J. Goldman & Co LP Hedge Fund•Multi-Strategy	- - contracts

Most Committed Institutions

Institutions with FULC as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
N Nantahala Capital Management, LLC Hedge Fund•Multi-Strategy	Daniel J. Mack Managing Partner	2.66% $43.0M	8.63% 4.7M shares	Q3 2024 Held for 1y 2m	$1.6B
TCG Crossover Management, LLC Venture Capital	Chen Ming Yu Managing Partner	2.41% $48.3M	9.71% 5.3M shares	Q3 2024 Held for 1y 2m	$2.0B
Ikarian Capital, LLC Hedge Fund•Event Driven	Neil Tristan Shahrestani CEO	2.40% $11.9M	2.38% 1.3M shares	Q3 2024 Held for 1y 2m	$494.3M
SUVRETTA CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	Aaron Leonard Cowen CEO	1.50% $49.5M	9.95% 5.4M shares	Q1 2021 Held for 4y 8m	$3.3B
RA CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	Michael Saulnier CFO	1.17% $94.1M	18.91% 10.2M shares	Q3 2022 Held for 3y 2m	$8.1B
Exome Asset Management LLC Hedge Fund•Sector	Alex R Forschner President	0.61% $909.0K	0.18% 98.8K shares	Q2 2024 Held for 1y 5m	$148.0M
L Longwood Capital Partners LLC Institution	-	0.54% $525.7K	0.11% 57.1K shares	Q2 2025 Held for 5 months	$96.8M
A ADAR1 Capital Management, LLC Hedge Fund•Long/Short	Daniel Pawel Schneeberger Managing Partner	0.32% $3.1M	0.63% 341.6K shares	Q4 2023 Held for 1y 11m	$993.7M
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	Ari Louis Glass Managing Partner	0.16% $6.2M	1.25% 678.4K shares	Q3 2024 Held for 1y 2m	$3.8B
P PharVision Advisers, LLC Hedge Fund•Long/Short	Blagovest Dimitrov Baychev CEO	0.12% $219.6K	0.04% 23.9K shares	Q3 2025 Held for 2 months	$176.9M

Hedge Fund Spotlight

Discover hedge funds investing in FULC

Ikarian Capital, LLC

Hedge Fund • Event Driven

Portfolio ManagerNeil Tristan Shahrestani

Portfolio Value: $494.3M
Positions: 116
Last Reported: Q3 2025

Sector Allocation

Position in Fulcrum Therapeutics, Inc.

Market Value: $11.9M
Shares Held: 1.3M
Portfolio Weight: 2.40%
Owned Since: 2024-Q3

Top Holding	Sector	Market Value	Weight
1 GMAB Genmab A/S GMAB	Unknown Unknown	$53.0M	10.73%
2 ABVX Abivax ABVX	Unknown Unknown	$33.4M	6.76%
3 Ionis Pharmaceuticals IONS	Biotechnology Healthcare	$27.2M	5.49%

View full profile

Fulcrum Therapeutics, Inc.

Overview

All Institutions

Hedge Funds

Ownership Breakdown

Biggest Investors

Net Capital Flow

Biggest Buyers

Biggest Sellers

Entry and Exit Activity

New Positions

Exited Positions

Options Activity

Call Positions

Put Positions

Most Committed Institutions

Hedge Fund Spotlight

Position in Fulcrum Therapeutics, Inc.

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