Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Sees Large Decline in Short Interest

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) saw a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 4,330,000 shares, a decrease of 7.3% from the January 15th total of 4,670,000 shares. Based on an average daily trading volume, of 826,100 shares, the days-to-cover ratio is presently 5.2 days.

Institutional Investors Weigh In On Fulcrum Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Woodline Partners LP increased its position in shares of Fulcrum Therapeutics by 110.3% in the fourth quarter. Woodline Partners LP now owns 1,410,520 shares of the company’s stock worth $6,629,000 after purchasing an additional 739,713 shares during the period. Suvretta Capital Management LLC grew its position in Fulcrum Therapeutics by 182.3% in the fourth quarter. Suvretta Capital Management LLC now owns 3,338,466 shares of the company’s stock valued at $15,691,000 after acquiring an additional 2,155,675 shares during the last quarter. Shay Capital LLC grew its holdings in shares of Fulcrum Therapeutics by 4.2% during the fourth quarter. Shay Capital LLC now owns 301,464 shares of the company’s stock worth $1,417,000 after purchasing an additional 12,227 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Fulcrum Therapeutics by 224.0% during the fourth quarter. Millennium Management LLC now owns 76,123 shares of the company’s stock worth $358,000 after purchasing an additional 52,628 shares during the last quarter. Finally, LMR Partners LLP grew its holdings in shares of Fulcrum Therapeutics by 367.2% during the fourth quarter. LMR Partners LLP now owns 112,500 shares of the company’s stock worth $529,000 after purchasing an additional 154,600 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Fulcrum Therapeutics Stock Down 0.5 %

Shares of FULC traded down $0.02 during midday trading on Monday, reaching $3.69. 848,394 shares of the stock were exchanged, compared to its average volume of 464,825. Fulcrum Therapeutics has a twelve month low of $2.86 and a twelve month high of $13.70. The company has a market cap of $199.04 million, a P/E ratio of -11.90 and a beta of 2.03. The stock’s 50 day simple moving average is $4.21 and its 200 day simple moving average is $4.88.

Wall Street Analyst Weigh In

Several research firms have recently commented on FULC. Royal Bank of Canada reissued a “sector perform” rating and issued a $4.00 price objective on shares of Fulcrum Therapeutics in a report on Thursday, November 14th. HC Wainwright reaffirmed a “neutral” rating and set a $4.00 price target on shares of Fulcrum Therapeutics in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $9.33.

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.