Short Interest in Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Decreases By 5.8%

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 4,680,000 shares, a decline of 5.8% from the October 31st total of 4,970,000 shares. Based on an average daily volume of 1,650,000 shares, the short-interest ratio is currently 2.8 days.

Fulcrum Therapeutics Stock Down 1.0 %

Fulcrum Therapeutics stock traded down $0.04 during trading hours on Tuesday, reaching $3.84. 9,916 shares of the stock were exchanged, compared to its average volume of 982,130. Fulcrum Therapeutics has a 52-week low of $2.86 and a 52-week high of $13.70. The firm’s 50 day moving average is $3.44 and its 200 day moving average is $6.17.

Analyst Upgrades and Downgrades

FULC has been the topic of a number of research reports. Cantor Fitzgerald downgraded Fulcrum Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Thursday, September 12th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.00 price target on shares of Fulcrum Therapeutics in a research report on Thursday, November 14th. Bank of America lowered shares of Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $10.00 to $2.00 in a research note on Thursday, September 12th. Leerink Partnrs lowered Fulcrum Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 12th. Finally, Leerink Partners reaffirmed a “market perform” rating and set a $4.00 price objective on shares of Fulcrum Therapeutics in a research note on Thursday, September 12th. One investment 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 company currently has a consensus rating of “Hold” and a consensus price target of $9.33.

Hedge Funds Weigh In On Fulcrum Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI grew its stake in shares of 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 purchasing an additional 4,000 shares during the period. Profund Advisors LLC acquired a new position in shares of Fulcrum Therapeutics during the 2nd quarter worth $68,000. China Universal Asset Management Co. Ltd. grew its stake in shares of 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 purchasing an additional 4,701 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Fulcrum Therapeutics during the 2nd quarter worth $82,000. Finally, Walleye Capital LLC acquired a new position in shares of Fulcrum Therapeutics during the 3rd quarter worth $59,000. 89.83% of the stock is owned by institutional investors and hedge funds.

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.