RA Capital Management sells 4,175,139 shares (4.18M) for $58,377,021.32, reducing stake 40.8% to 6,053,960 shares
RA Capital Management, a 10% owner, executed 3 separate sales totaling 4,175,139 shares for $58,377,021.32 on 2025-12-08, reducing holdings by 40.8% from 10,229,099 to 6,053,960 shares. The blended average sale price of $13.98 compares to current price of $13.80 (near the 52-week high of $14.60), and the stock has appreciated 79.9% over the past 30 days and 97.4% over the past 90 days following earlier losses. Fulcrum is pre-revenue (latest quarter $0.00) with a net loss of $19,595,000 for the full year, though annual revenue growth reached 2752.0% year-over-year. This large-scale reduction of a major stakeholder's position during a sharp recovery period merits scrutiny given the company's early-stage financial profile and the magnitude of the divestiture.