Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Sees Significant Increase in Short Interest

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) was the target of a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 3,000,000 shares, an increase of 18.6% from the April 15th total of 2,530,000 shares. Based on an average daily trading volume, of 598,700 shares, the days-to-cover ratio is currently 5.0 days.

Insider Activity

In other news, VP Greg Tourangeau sold 4,884 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $11.72, for a total transaction of $57,240.48. Following the transaction, the vice president now owns 11,807 shares in the company, valued at approximately $138,378.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FULC. StemPoint Capital LP increased its position in Fulcrum Therapeutics by 8.1% in the 1st quarter. StemPoint Capital LP now owns 407,108 shares of the company’s stock valued at $3,843,000 after acquiring an additional 30,535 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Fulcrum Therapeutics by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,538,665 shares of the company’s stock valued at $23,965,000 after purchasing an additional 18,681 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Fulcrum Therapeutics in the first quarter valued at approximately $115,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Fulcrum Therapeutics in the 1st quarter worth approximately $308,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Fulcrum Therapeutics by 66.7% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,916 shares of the company’s stock worth $112,000 after buying an additional 4,766 shares in the last quarter. 89.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FULC. The Goldman Sachs Group upgraded shares of Fulcrum Therapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $6.00 to $15.00 in a report on Monday. Piper Sandler boosted their price objective on shares of Fulcrum Therapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Royal Bank of Canada assumed coverage on Fulcrum Therapeutics in a research report on Wednesday, March 13th. They set an “outperform” rating and a $14.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 price target on shares of Fulcrum Therapeutics in a report on Tuesday. Finally, Oppenheimer reduced their price objective on Fulcrum Therapeutics from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Tuesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Fulcrum Therapeutics currently has an average rating of “Buy” and a consensus price target of $14.33.

Fulcrum Therapeutics Stock Performance

NASDAQ FULC traded down $0.38 during trading on Thursday, reaching $7.87. 258,628 shares of the company traded hands, compared to its average volume of 622,655. Fulcrum Therapeutics has a 1-year low of $2.65 and a 1-year high of $13.70. The stock’s 50 day moving average price is $8.61 and its two-hundred day moving average price is $7.33. The company has a market cap of $489.12 million, a price-to-earnings ratio of -5.16 and a beta of 2.35.

Fulcrum Therapeutics (NASDAQ:FULC) last announced its earnings results on Tuesday, February 27th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.04. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 38.94%. The business had revenue of $0.87 million during the quarter, compared to analysts’ expectations of $0.65 million. Equities research analysts expect 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.