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

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 5,520,000 shares, a drop of 6.4% from the September 30th total of 5,900,000 shares. Based on an average daily volume of 1,650,000 shares, the short-interest ratio is currently 3.3 days.

Analyst Upgrades and Downgrades

FULC has been the topic of a number of recent analyst reports. Royal Bank of Canada downgraded shares of Fulcrum Therapeutics from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $15.00 to $4.00 in a research note on Thursday, September 12th. Leerink Partners reaffirmed a “market perform” rating and set a $4.00 price target on shares of Fulcrum Therapeutics in a research note on Thursday, September 12th. HC Wainwright downgraded shares of Fulcrum Therapeutics from a “buy” rating to a “neutral” rating and cut their price target for the stock from $17.00 to $4.00 in a research note on Friday, September 13th. Stifel Nicolaus downgraded shares of Fulcrum Therapeutics from a “buy” rating to a “hold” rating and cut their price target for the stock from $22.00 to $3.00 in a research note on Thursday, September 12th. Finally, Leerink Partnrs downgraded shares of Fulcrum Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $9.33.

Institutional Investors Weigh In On Fulcrum Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. National Bank of Canada FI increased its stake in Fulcrum Therapeutics by 869.6% during the 2nd quarter. National Bank of Canada FI now owns 4,460 shares of the company’s stock worth $28,000 after buying an additional 4,000 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Fulcrum Therapeutics by 64.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,002 shares of the company’s stock worth $43,000 after buying an additional 4,701 shares during the period. Profund Advisors LLC purchased a new stake in Fulcrum Therapeutics during the 2nd quarter worth $68,000. Renaissance Technologies LLC purchased a new stake in Fulcrum Therapeutics during the 2nd quarter worth $82,000. Finally, SG Americas Securities LLC purchased a new stake in Fulcrum Therapeutics during the 1st quarter worth $115,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Fulcrum Therapeutics Stock Performance

Shares of FULC stock opened at $3.24 on Thursday. The company’s fifty day simple moving average is $5.04 and its 200-day simple moving average is $6.80. Fulcrum Therapeutics has a 52 week low of $2.87 and a 52 week high of $13.70. The company has a market cap of $202.18 million, a PE ratio of -2.03 and a beta of 2.21.

Fulcrum Therapeutics (NASDAQ:FULC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.93. The firm had revenue of $80.00 million for the quarter, compared to analyst estimates of $80.00 million. During the same period in the previous year, the business posted ($0.38) earnings per share. Equities research analysts expect 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.