Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Short Interest Up 45.0% in May

Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Get Free Report) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 4,930,000 shares, a growth of 45.0% from the April 30th total of 3,400,000 shares. Approximately 9.5% of the shares of the stock are short sold. Based on an average trading volume of 553,400 shares, the days-to-cover ratio is currently 8.9 days.

Fulcrum Therapeutics Price Performance

Fulcrum Therapeutics stock traded up $0.11 during midday trading on Tuesday, reaching $7.07. The stock had a trading volume of 145,553 shares, compared to its average volume of 968,562. The firm's fifty day simple moving average is $4.47 and its two-hundred day simple moving average is $4.05. Fulcrum Therapeutics has a twelve month low of $2.32 and a twelve month high of $10.13. The firm has a market cap of $381.63 million, a price-to-earnings ratio of -22.81 and a beta of 2.29.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.28) EPS for the quarter, topping analysts' consensus estimates of ($0.29) by $0.01. As a group, sell-side analysts predict that Fulcrum Therapeutics will post -0.16 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. HC Wainwright restated a "neutral" rating and issued a $4.00 price target on shares of Fulcrum Therapeutics in a research report on Wednesday, February 26th. Piper Sandler restated an "overweight" rating and issued a $9.00 price target (up previously from $6.00) on shares of Fulcrum Therapeutics in a research report on Thursday, May 29th. Leerink Partners upgraded shares of Fulcrum Therapeutics from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $4.00 to $12.00 in a research report on Friday, May 23rd. Leerink Partnrs upgraded shares of Fulcrum Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 23rd. Finally, Cantor Fitzgerald upgraded shares of Fulcrum Therapeutics from a "neutral" rating to an "overweight" rating and set a $10.00 price target on the stock in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $6.29.

Hedge Funds Weigh In On Fulcrum Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new position in shares of Fulcrum Therapeutics during the 4th quarter valued at $38,000. Jump Financial LLC purchased a new position in shares of Fulcrum Therapeutics during the 1st quarter valued at $30,000. Brooklyn Investment Group grew its holdings in shares of Fulcrum Therapeutics by 209.7% during the 1st quarter. Brooklyn Investment Group now owns 12,190 shares of the company's stock valued at $35,000 after acquiring an additional 8,254 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Fulcrum Therapeutics during the 1st quarter valued at $39,000. Finally, Mariner LLC purchased a new position in shares of Fulcrum Therapeutics during the 4th quarter valued at $78,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

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.