Fulcrum Therapeutics insider buys 249,946 shares

Rhea-AI Filing Summary

Investment entities associated with Kevin Tang and Tang Capital Management LLC, each a ten percent owner of Fulcrum Therapeutics, Inc., reported open-market purchases of 249,946 shares of common stock from July 13–15, 2026 at prices ranging from $3.50 to $3.60 per share. Reported prices are weighted averages for multiple trades within these ranges.

Following these transactions, the reporting group’s indirect beneficial ownership increased to 6,913,329 shares, held across Tang Capital Partners, LP, Tang Capital Partners International, LP, Tang Capital Partners III, Inc., and Tang Capital Partners IV, Inc., in which Kevin Tang has a pecuniary interest.

Insider Trade Summary

Net Buyer: 249,946 shares

Net Buy 4 txns

Insider TANG KEVIN, TANG CAPITAL MANAGEMENT LLC

Role 10% Owner | 10% Owner

Bought 249,946 shs ($891K)

Type	Security	Shares	Price	Value
Purchase	Common Stock F5, F2	107,377	$3.56	$382K
Purchase	Common Stock F3, F2	53,651	$3.56	$191K
Purchase	Common Stock F4, F2	75,952	$3.58	$272K
Purchase	Common Stock F1, F2	12,966	$3.54	$46K

Holdings After Transaction: Common Stock — 6,913,329 shares (Indirect, See Footnote)

Footnotes (5)

1. F1. The prices reported are weighted-average prices. These shares were purchased in multiple transactions at prices ranging from $3.54 to $3.55. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the SEC staff, upon request, all information regarding the number of shares purchased at each price within the ranges set forth in Footnotes 1 and 3 through 5.
2. F2. Tang Capital Partners, LP ("TCP") beneficially owns 1,630,142 shares, Tang Capital Partners International, LP ("TCPI") beneficially owns 2,160,423 shares, Tang Capital Partners III, Inc. ("TCP III") beneficially owns 1,630,127 shares, and Tang Capital Partners IV, Inc. ("TCP IV") beneficially owns 1,492,637 shares. Kevin Tang is the sole manager of Tang Capital Management, LLC, which is the general partner of TCP and TCPI. Kevin Tang is the sole director and Chief Executive Officer of TCP III and TCP IV, which are indirectly wholly owned by TCP. Mr. Tang has a pecuniary interest in the shares beneficially held by TCP, TCPI, TCP III and TCP IV.
3. F3. These shares were purchased in multiple transactions at prices ranging from $3.54 to $3.60.
4. F4. These shares were purchased in multiple transactions at prices ranging from $3.53 to $3.60.
5. F5. These shares were purchased in multiple transactions at prices ranging from $3.50 to $3.60.

Key Figures

Total shares purchased: 249,946 shares Shares after transactions: 6,913,329 shares Largest single purchase: 107,377 shares at $3.56 +3 more

6 metrics

Total shares purchased 249,946 shares Aggregate open-market purchases from July 13–15, 2026

Shares after transactions 6,913,329 shares Indirect beneficial ownership following July 15, 2026 purchases

Largest single purchase 107,377 shares at $3.56 Open-market buy on 2026-07-15, indirectly owned

Additional purchase 75,952 shares at $3.58 Open-market buy on 2026-07-14, indirectly owned

Price range of trades $3.50–$3.60 per share Footnotes describe multiple transactions within this range

TCP holdings 1,630,142 shares Shares beneficially owned by Tang Capital Partners, LP

Key Terms

beneficially owns, pecuniary interest, weighted-average prices, ten percent owner, +1 more

5 terms

beneficially owns financial

"Tang Capital Partners, LP ("TCP") beneficially owns 1,630,142 shares"

Beneficially owns means a person or entity enjoys the economic benefits and control of a security even if the legal title or registration is held in another name. Think of it like having the keys and profits from a car that is registered to a friend: you use it, benefit from it, and make decisions about it even though the official paperwork lists someone else. For investors, this matters because it reveals who truly controls shares, affects voting power, potential conflicts of interest, and regulatory disclosure obligations.

pecuniary interest financial

"Mr. Tang has a pecuniary interest in the shares beneficially held"

weighted-average prices financial

"The prices reported are weighted-average prices. These shares were purchased"

ten percent owner financial

"Reporting persons are each indicated as a ten percent owner of the issuer"

indirect beneficial ownership financial

"Total shares following transaction are reported as indirect beneficial ownership"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider activity did Kevin Tang report for Fulcrum Therapeutics (FULC)?

Entities associated with Kevin Tang reported open-market purchases of 249,946 FULC shares over July 13–15, 2026. The transactions increased their indirect beneficial ownership to 6,913,329 shares of Fulcrum Therapeutics common stock, according to the Form 4 disclosure.

How many Fulcrum Therapeutics (FULC) shares were bought in the latest Form 4?

The reporting persons acquired 249,946 shares of Fulcrum Therapeutics common stock. These purchases occurred in several open-market trades across three trading days and were reported as indirect holdings through Tang Capital investment entities.

At what prices were Fulcrum Therapeutics (FULC) shares purchased in this Form 4?

The common stock was bought at weighted-average prices within ranges from $3.50 to $3.60 per share. Individual trades were executed in multiple transactions inside narrower ranges specified in the footnotes, all during mid-July 2026.

What is the total Fulcrum Therapeutics (FULC) stake held after these insider purchases?

After the reported transactions, the Tang-affiliated entities beneficially hold 6,913,329 FULC shares. This total reflects indirect ownership across Tang Capital Partners LP, Tang Capital Partners International LP, Tang Capital Partners III, Inc., and Tang Capital Partners IV, Inc.

Are the Fulcrum Therapeutics (FULC) insider purchases direct or indirect holdings?

The Form 4 lists all 249,946 purchased shares as indirectly owned, with ownership noted as “See Footnote.” The footnotes explain that the shares are held by various Tang Capital entities in which Kevin Tang has a pecuniary interest.

Which Tang Capital entities beneficially own Fulcrum Therapeutics (FULC) shares?

Footnotes state that Tang Capital Partners LP owns 1,630,142 shares, Tang Capital Partners International LP owns 2,160,423, Tang Capital Partners III, Inc. owns 1,630,127, and Tang Capital Partners IV, Inc. owns 1,492,637 Fulcrum Therapeutics shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 07/15/2026 - 07:50 PM Accepted by SEC EDGAR 07/15/2026 - 07:50 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

TANG KEVIN

(Last) (First) (Middle)

4747 EXECUTIVE DRIVE

SUITE 210

(Street)

SAN DIEGO CALIFORNIA 92121

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Fulcrum Therapeutics, Inc. [ FULC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/13/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/13/2026		P		12,966	A	$3.54(1)	6,676,349	I	See Footnote(2)
Common Stock	07/14/2026		P		53,651	A	$3.56(3)	6,730,000	I	See Footnote(2)
Common Stock	07/14/2026		P		75,952	A	$3.58(4)	6,805,952	I	See Footnote(2)
Common Stock	07/15/2026		P		107,377	A	$3.56(5)	6,913,329	I	See Footnote(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

TANG KEVIN

(Last) (First) (Middle)

4747 EXECUTIVE DRIVE

SUITE 210

(Street)

SAN DIEGO CALIFORNIA 92121

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

TANG CAPITAL MANAGEMENT LLC

(Last) (First) (Middle)

4747 EXECUTIVE DRIVE

SUITE 210

(Street)

SAN DIEGO CALIFORNIA 92121

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The prices reported are weighted-average prices. These shares were purchased in multiple transactions at prices ranging from $3.54 to $3.55. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the SEC staff, upon request, all information regarding the number of shares purchased at each price within the ranges set forth in Footnotes 1 and 3 through 5.

2. Tang Capital Partners, LP ("TCP") beneficially owns 1,630,142 shares, Tang Capital Partners International, LP ("TCPI") beneficially owns 2,160,423 shares, Tang Capital Partners III, Inc. ("TCP III") beneficially owns 1,630,127 shares, and Tang Capital Partners IV, Inc. ("TCP IV") beneficially owns 1,492,637 shares. Kevin Tang is the sole manager of Tang Capital Management, LLC, which is the general partner of TCP and TCPI. Kevin Tang is the sole director and Chief Executive Officer of TCP III and TCP IV, which are indirectly wholly owned by TCP. Mr. Tang has a pecuniary interest in the shares beneficially held by TCP, TCPI, TCP III and TCP IV.

3. These shares were purchased in multiple transactions at prices ranging from $3.54 to $3.60.

4. These shares were purchased in multiple transactions at prices ranging from $3.53 to $3.60.

5. These shares were purchased in multiple transactions at prices ranging from $3.50 to $3.60.

	Kevin Tang	07/15/2026
	Kevin Tang, Manager	07/15/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)