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

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) saw a large growth in short interest in May. As of May 31st, there was short interest totalling 3,590,000 shares, a growth of 16.2% from the May 15th total of 3,090,000 shares. Based on an average daily trading volume, of 539,700 shares, the short-interest ratio is currently 6.7 days.

Institutional Investors Weigh In On Fulcrum Therapeutics

Hedge funds have recently made changes to their positions in the business. Citigroup Inc. raised its position in Fulcrum Therapeutics by 1,028.5% in the third quarter. Citigroup Inc. now owns 89,189 shares of the company’s stock worth $396,000 after acquiring an additional 81,286 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Fulcrum Therapeutics in the 3rd quarter worth approximately $268,000. FMR LLC lifted its stake in Fulcrum Therapeutics by 7.6% in the third 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 during the last quarter. ClariVest Asset Management LLC bought a new position in Fulcrum Therapeutics during the third quarter valued at $464,000. Finally, Algert Global LLC purchased a new stake in Fulcrum Therapeutics in the third quarter worth $138,000. 89.83% of the stock is currently owned by institutional investors.

Fulcrum Therapeutics Trading Down 6.0 %

NASDAQ:FULC opened at $7.00 on Tuesday. The firm has a fifty day simple moving average of $7.61 and a two-hundred day simple moving average of $7.94. Fulcrum Therapeutics has a 12 month low of $2.95 and a 12 month high of $13.70. The stock has a market capitalization of $435.08 million, a price-to-earnings ratio of -4.38 and a beta of 2.34.

Fulcrum Therapeutics (NASDAQ:FULC) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.43) EPS for the quarter, beating 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%. Equities analysts predict that Fulcrum Therapeutics will post -1.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FULC has been the topic of a number of analyst reports. Oppenheimer reduced their price target on Fulcrum Therapeutics from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 14th. Royal Bank of Canada started coverage on shares of Fulcrum Therapeutics in a research report on Wednesday, March 13th. They set an “outperform” rating and a $14.00 target price for the company. The Goldman Sachs Group raised shares of Fulcrum Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $6.00 to $15.00 in a research note on Monday, May 13th. Cantor Fitzgerald initiated coverage on shares of Fulcrum Therapeutics in a research note on Monday, May 20th. They set an “overweight” rating and a $23.00 target price for the company. Finally, Piper Sandler upped their price target on shares of Fulcrum Therapeutics from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Fulcrum Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $15.57.

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.