Short Interest in Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Drops By 5.4%

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 2,260,000 shares, a decline of 5.4% from the March 15th total of 2,390,000 shares. Based on an average daily trading volume, of 668,800 shares, the short-interest ratio is currently 3.4 days.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Piper Sandler increased their price objective on Fulcrum Therapeutics from $13.00 to $15.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. The Goldman Sachs Group increased their price objective on Fulcrum Therapeutics from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. HC Wainwright increased their target price on Fulcrum Therapeutics from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada initiated coverage on Fulcrum Therapeutics in a research note on Wednesday, March 13th. They set an “outperform” rating and a $14.00 target price for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Fulcrum Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $13.17.

Insider Activity at Fulcrum Therapeutics

In related news, VP Greg Tourangeau sold 4,884 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $11.72, for a total transaction of $57,240.48. Following the transaction, the vice president now directly owns 11,807 shares of the company’s stock, valued at $138,378.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Fulcrum Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its holdings in Fulcrum Therapeutics by 17.6% during the 1st quarter. FMR LLC now owns 6,156,328 shares of the company’s stock valued at $17,546,000 after purchasing an additional 922,603 shares in the last quarter. Cowen AND Company LLC increased its holdings in Fulcrum Therapeutics by 38.2% during the 3rd quarter. Cowen AND Company LLC now owns 4,308,359 shares of the company’s stock valued at $19,129,000 after purchasing an additional 1,191,363 shares in the last quarter. BlackRock Inc. increased its holdings in Fulcrum Therapeutics by 28.0% during the 1st quarter. BlackRock Inc. now owns 4,183,738 shares of the company’s stock valued at $11,924,000 after purchasing an additional 914,747 shares in the last quarter. Vanguard Group Inc. increased its holdings in Fulcrum Therapeutics by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,643,195 shares of the company’s stock valued at $11,736,000 after purchasing an additional 17,166 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its holdings in Fulcrum Therapeutics by 4.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,406,422 shares of the company’s stock valued at $10,685,000 after purchasing an additional 100,000 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.

Fulcrum Therapeutics Stock Performance

Fulcrum Therapeutics stock opened at $7.36 on Tuesday. Fulcrum Therapeutics has a one year low of $2.42 and a one year high of $13.70. The business has a 50 day simple moving average of $9.61 and a 200 day simple moving average of $6.79.

Fulcrum Therapeutics (NASDAQ:FULC) last posted its earnings results on Tuesday, February 27th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.04. The business had revenue of $0.87 million during the quarter, compared to the consensus estimate of $0.65 million. Fulcrum Therapeutics had a negative return on equity of 36.65% and a negative net margin of 3,470.05%. As a group, sell-side analysts anticipate that Fulcrum Therapeutics will post -1.76 EPS for the current fiscal year.

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.