Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Sees Large Growth in Short Interest

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) saw a large increase in short interest in June. As of June 15th, there was short interest totalling 3,880,000 shares, an increase of 8.1% from the May 31st total of 3,590,000 shares. Based on an average daily trading volume, of 570,600 shares, the days-to-cover ratio is currently 6.8 days.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FULC shares. Royal Bank of Canada initiated coverage on Fulcrum Therapeutics in a research report on Wednesday, March 13th. They issued an “outperform” rating and a $14.00 price target on the stock. Oppenheimer dropped their price target on Fulcrum Therapeutics from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 14th. Cantor Fitzgerald started coverage on Fulcrum Therapeutics in a research note on Monday, May 20th. They set an “overweight” rating and a $23.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $17.00 target price on shares of Fulcrum Therapeutics in a research note on Tuesday, May 14th. Finally, The Goldman Sachs Group upgraded Fulcrum Therapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $6.00 to $15.00 in a research note on Monday, May 13th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Fulcrum Therapeutics has a consensus rating of “Buy” and an average target price of $15.57.

Fulcrum Therapeutics Trading Down 2.1 %

NASDAQ FULC traded down $0.13 on Tuesday, hitting $6.18. 224,523 shares of the stock traded hands, compared to its average volume of 705,339. The stock has a 50-day moving average of $7.38 and a 200 day moving average of $8.05. Fulcrum Therapeutics has a twelve month low of $3.14 and a twelve month high of $13.70. The company has a market capitalization of $384.09 million, a P/E ratio of -3.86 and a beta of 2.29.

Fulcrum Therapeutics (NASDAQ:FULC) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.01. Fulcrum Therapeutics had a negative return on equity of 40.60% and a negative net margin of 3,470.05%. As a group, equities research analysts expect that Fulcrum Therapeutics will post -1.24 earnings per share for the current year.

Institutional Trading of Fulcrum Therapeutics

A number of hedge funds have recently modified their holdings of FULC. Vestal Point Capital LP acquired a new stake in shares of Fulcrum Therapeutics in the fourth quarter worth about $6,919,000. ADAR1 Capital Management LLC acquired a new stake in shares of Fulcrum Therapeutics in the fourth quarter worth about $4,302,000. FMR LLC increased its stake in shares of Fulcrum Therapeutics by 7.6% in the third quarter. FMR LLC now owns 5,975,416 shares of the company’s stock worth $26,531,000 after purchasing an additional 421,676 shares during the period. abrdn plc bought a new position in shares of Fulcrum Therapeutics in the fourth quarter worth about $1,734,000. Finally, Mass General Brigham Inc bought a new position in Fulcrum Therapeutics during the first quarter valued at about $1,939,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

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.