Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Short Interest Update

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 2,260,000 shares, a drop of 5.4% from the March 15th total of 2,390,000 shares. Based on an average daily trading volume, of 668,800 shares, the days-to-cover ratio is presently 3.4 days.

Analyst Ratings Changes

FULC has been the topic of a number of recent research reports. Royal Bank of Canada initiated coverage on shares of Fulcrum Therapeutics in a research report on Wednesday, March 13th. They set an “outperform” rating and a $14.00 price target on the stock. The Goldman Sachs Group raised their price target on shares of Fulcrum Therapeutics from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Piper Sandler raised their price target on shares of Fulcrum Therapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Finally, HC Wainwright raised their price target on shares of Fulcrum Therapeutics from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Fulcrum Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.17.

Fulcrum Therapeutics Price Performance

FULC stock opened at $7.15 on Thursday. Fulcrum Therapeutics has a 12 month low of $2.42 and a 12 month high of $13.70. The company’s 50-day moving average price is $9.58 and its two-hundred day moving average price is $6.82.

Fulcrum Therapeutics (NASDAQ:FULC) last released its earnings results on Tuesday, February 27th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.04. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 36.65%. The firm had revenue of $0.87 million for the quarter, compared to analyst estimates of $0.65 million. On average, sell-side analysts expect that Fulcrum Therapeutics will post -1.76 EPS for the current fiscal year.

Insider Transactions at Fulcrum Therapeutics

In other news, VP Greg Tourangeau sold 4,884 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $11.72, for a total transaction of $57,240.48. Following the completion of the sale, the vice president now owns 11,807 shares in the company, valued at approximately $138,378.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fulcrum Therapeutics

Hedge funds have recently bought and sold shares of the company. Hudson Bay Capital Management LP bought a new position in Fulcrum Therapeutics in the 3rd quarter valued at about $872,000. ClariVest Asset Management LLC acquired a new stake in shares of Fulcrum Therapeutics in the 3rd quarter valued at approximately $464,000. FMR LLC boosted its stake in shares of Fulcrum Therapeutics by 7.6% in the 3rd quarter. FMR LLC now owns 5,975,416 shares of the company’s stock valued at $26,531,000 after purchasing an additional 421,676 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Fulcrum Therapeutics in the 3rd quarter valued at approximately $268,000. Finally, Jump Financial LLC acquired a new stake in shares of Fulcrum Therapeutics in the 3rd quarter valued at approximately $408,000. 89.83% of the stock is owned by institutional investors.

Fulcrum Therapeutics Company Profile

Fulcrum Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing products for improving the lives of patients with genetically defined diseases in the areas of high unmet medical need in the United States. Its product candidates are losmapimod, a small molecule for the treatment of facioscapulohumeral muscular dystrophy is under phase III clinical trial; and pociredir, a fetal hemoglobin inducer for the treatment of sickle cell disease and beta-thalassemia is under phase I clinical trial.