Short Interest in Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Expands By 41.4%

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 11,400,000 shares, an increase of 41.4% from the August 31st total of 8,060,000 shares. Based on an average trading volume of 1,680,000 shares, the short-interest ratio is presently 6.8 days.

Analyst Ratings Changes

FULC has been the topic of a number of recent analyst reports. Cantor Fitzgerald lowered Fulcrum Therapeutics from an “overweight” rating to a “neutral” rating in a report on Thursday, September 12th. Stifel Nicolaus downgraded shares of Fulcrum Therapeutics from a “buy” rating to a “hold” rating and cut their price target for the company from $22.00 to $3.00 in a report on Thursday, September 12th. Bank of America downgraded shares of Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $10.00 to $2.00 in a report on Thursday, September 12th. Leerink Partners reissued a “market perform” rating and set a $4.00 price target on shares of Fulcrum Therapeutics in a research note on Thursday, September 12th. Finally, Royal Bank of Canada downgraded Fulcrum Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $15.00 to $4.00 in a research report on Thursday, September 12th. 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’s stock. According to data from MarketBeat.com, Fulcrum Therapeutics presently has an average rating of “Hold” and a consensus price target of $9.33.

Fulcrum Therapeutics Trading Down 5.8 %

NASDAQ FULC traded down $0.23 during trading hours on Friday, reaching $3.77. The company’s stock had a trading volume of 1,901,211 shares, compared to its average volume of 1,039,746. The stock has a market cap of $234.32 million, a PE ratio of -2.36 and a beta of 2.23. The business has a 50-day simple moving average of $7.56 and a 200 day simple moving average of $7.74. Fulcrum Therapeutics has a 52 week low of $2.87 and a 52 week high of $13.70.

Fulcrum Therapeutics (NASDAQ:FULC) last posted its earnings results on Wednesday, July 31st. The company reported $0.87 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.93. The firm had revenue of $80.00 million during the quarter, compared to analysts’ expectations of $80.00 million. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 8.28%. During the same quarter in the prior year, the firm earned ($0.38) EPS. As a group, equities analysts predict that Fulcrum Therapeutics will post -0.28 EPS for the current year.

Hedge Funds Weigh In On Fulcrum Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI grew its holdings in shares of Fulcrum Therapeutics by 869.6% in the 2nd quarter. National Bank of Canada FI now owns 4,460 shares of the company’s stock worth $28,000 after acquiring an additional 4,000 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Fulcrum Therapeutics by 66.7% in the first quarter. China Universal Asset Management Co. Ltd. now owns 11,916 shares of the company’s stock valued at $112,000 after purchasing an additional 4,766 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of Fulcrum Therapeutics during the 4th quarter worth about $68,000. Profund Advisors LLC bought a new stake in Fulcrum Therapeutics during the 2nd quarter valued at approximately $68,000. Finally, American Century Companies Inc. increased its position in Fulcrum Therapeutics by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 104,371 shares of the company’s stock worth $647,000 after buying an additional 12,167 shares during the period. 89.83% of the stock is owned by institutional investors.

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.