Short Interest in Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Decreases By 6.4%

Fulcrum Therapeutics, Inc. (NASDAQ:FULCGet Free Report) was the target of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 5,520,000 shares, a decrease of 6.4% from the September 30th total of 5,900,000 shares. Based on an average daily trading volume, of 1,650,000 shares, the short-interest ratio is presently 3.3 days.

Fulcrum Therapeutics Price Performance

Fulcrum Therapeutics stock opened at $3.24 on Thursday. The firm has a 50-day moving average price of $5.04 and a two-hundred day moving average price of $6.80. The firm has a market capitalization of $202.18 million, a price-to-earnings ratio of -2.03 and a beta of 2.21. Fulcrum Therapeutics has a 52-week low of $2.87 and a 52-week high of $13.70.

Fulcrum Therapeutics (NASDAQ:FULCGet Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.93. The company had revenue of $80.00 million during the quarter, compared to analyst estimates of $80.00 million. During the same period in the prior year, the company posted ($0.38) earnings per share. Research analysts expect that Fulcrum Therapeutics will post -0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FULC shares. Royal Bank of Canada downgraded shares of Fulcrum Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $15.00 to $4.00 in a research report on Thursday, September 12th. Cantor Fitzgerald downgraded shares of Fulcrum Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Thursday, September 12th. HC Wainwright downgraded shares of Fulcrum Therapeutics from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $17.00 to $4.00 in a research report on Friday, September 13th. Leerink Partners reaffirmed a “market perform” rating and set a $4.00 price objective on shares of Fulcrum Therapeutics in a research report on Thursday, September 12th. Finally, Bank of America lowered shares of Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $10.00 to $2.00 in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.33.

Get Our Latest Research Report on Fulcrum Therapeutics

Institutional Trading of Fulcrum Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI lifted its stake in shares of Fulcrum Therapeutics by 869.6% in the 2nd quarter. National Bank of Canada FI now owns 4,460 shares of the company’s stock worth $28,000 after acquiring an additional 4,000 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in shares of Fulcrum Therapeutics by 64.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,002 shares of the company’s stock worth $43,000 after acquiring an additional 4,701 shares during the period. SG Americas Securities LLC lifted its stake in shares of Fulcrum Therapeutics by 26.5% in the 3rd quarter. SG Americas Securities LLC now owns 33,019 shares of the company’s stock worth $118,000 after acquiring an additional 6,926 shares during the period. Profund Advisors LLC acquired a new stake in shares of Fulcrum Therapeutics in the 2nd quarter worth approximately $68,000. Finally, American Century Companies Inc. lifted its stake in shares of Fulcrum Therapeutics by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 104,371 shares of the company’s stock worth $647,000 after acquiring an additional 12,167 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

About Fulcrum Therapeutics

(Get Free Report)

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.

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