Short Interest in Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Drops By 7.0%

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) was the recipient of a large decline in short interest in December. As of December 15th, there was short interest totalling 4,260,000 shares, a decline of 7.0% from the November 30th total of 4,580,000 shares. Based on an average daily volume of 1,040,000 shares, the short-interest ratio is presently 4.1 days.

Analysts Set New Price Targets

Several brokerages recently issued reports on FULC. Cantor Fitzgerald downgraded Fulcrum Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Thursday, September 12th. Stifel Nicolaus lowered shares of Fulcrum Therapeutics from a “buy” rating to a “hold” rating and reduced their price target for the stock from $22.00 to $3.00 in a research report on Thursday, September 12th. HC Wainwright reaffirmed a “neutral” rating and set a $4.00 price objective on shares of Fulcrum Therapeutics in a research report on Thursday, November 14th. Leerink Partnrs downgraded shares of Fulcrum Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $4.00 price target on shares of Fulcrum Therapeutics in a report on Thursday, November 14th. One equities 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $9.33.

Institutional Trading of Fulcrum Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in FULC. State Street Corp grew its stake in Fulcrum Therapeutics by 61.4% in the 3rd quarter. State Street Corp now owns 1,680,229 shares of the company’s stock valued at $5,998,000 after buying an additional 638,955 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Fulcrum Therapeutics by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,480,926 shares of the company’s stock valued at $9,182,000 after purchasing an additional 176,114 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Fulcrum Therapeutics by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,320,862 shares of the company’s stock worth $4,716,000 after purchasing an additional 13,485 shares during the period. Braidwell LP acquired a new position in shares of Fulcrum Therapeutics during the 3rd quarter worth about $3,817,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Fulcrum Therapeutics by 223.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 569,185 shares of the company’s stock worth $2,032,000 after purchasing an additional 393,202 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Fulcrum Therapeutics Price Performance

Shares of FULC stock traded up $0.02 on Wednesday, hitting $4.70. The company’s stock had a trading volume of 555,369 shares, compared to its average volume of 1,003,506. The stock has a market capitalization of $253.51 million, a price-to-earnings ratio of -15.16 and a beta of 2.14. Fulcrum Therapeutics has a fifty-two week low of $2.86 and a fifty-two week high of $13.70. The firm’s fifty day moving average price is $3.78 and its 200-day moving average price is $5.61.

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.