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

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) saw a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 11,400,000 shares, an increase of 41.4% from the August 31st total of 8,060,000 shares. Based on an average daily trading volume, of 1,680,000 shares, the days-to-cover ratio is presently 6.8 days.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Fulcrum Therapeutics

Large investors have recently modified their holdings of the stock. Vestal Point Capital LP bought a new stake in Fulcrum Therapeutics in the 4th quarter valued at $6,919,000. Opaleye Management Inc. bought a new stake in shares of Fulcrum Therapeutics during the 4th quarter valued at approximately $878,000. ADAR1 Capital Management LLC acquired a new position in shares of Fulcrum Therapeutics in the fourth quarter valued at approximately $4,302,000. Jane Street Group LLC lifted its stake in shares of Fulcrum Therapeutics by 54.3% in the first quarter. Jane Street Group LLC now owns 535,062 shares of the company’s stock worth $5,051,000 after acquiring an additional 188,212 shares during the period. Finally, Mass General Brigham Inc bought a new stake in Fulcrum Therapeutics in the first quarter worth approximately $1,939,000. 89.83% of the stock is currently owned by institutional investors.

Fulcrum Therapeutics Stock Performance

Shares of Fulcrum Therapeutics stock traded down $0.23 during trading on Friday, hitting $3.77. 1,901,211 shares of the stock were exchanged, compared to its average volume of 1,039,746. The stock’s fifty day moving average is $7.56 and its 200 day moving average is $7.74. Fulcrum Therapeutics has a 12 month low of $2.87 and a 12 month high of $13.70. The stock has a market cap of $234.32 million, a PE ratio of -2.36 and a beta of 2.23.

Fulcrum Therapeutics (NASDAQ:FULC) 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 firm had revenue of $80.00 million for the quarter, compared to analysts’ expectations of $80.00 million. Fulcrum Therapeutics had a negative return on equity of 8.28% and a negative net margin of 3,470.05%. During the same quarter last year, the business posted ($0.38) EPS. Sell-side analysts anticipate that Fulcrum Therapeutics will post -0.28 EPS for the current fiscal year.

About Fulcrum Therapeutics

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.