Short Interest in Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Drops By 5.4%

Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Get Free Report) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 2,260,000 shares, a decline of 5.4% from the March 15th total of 2,390,000 shares. Based on an average daily trading volume, of 668,800 shares, the days-to-cover ratio is currently 3.4 days.

Fulcrum Therapeutics Stock Up 0.7 %

NASDAQ FULC traded up $0.05 on Tuesday, reaching $7.41. The company had a trading volume of 461,094 shares, compared to its average volume of 659,446. Fulcrum Therapeutics has a 52 week low of $2.42 and a 52 week high of $13.70. The stock has a market cap of $458.98 million, a price-to-earnings ratio of -4.69 and a beta of 2.29. The stock's 50 day moving average is $9.59 and its 200-day moving average is $6.82.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.44) by $0.04. Fulcrum Therapeutics had a negative return on equity of 36.65% and a negative net margin of 3,470.05%. The firm had revenue of $0.87 million during the quarter, compared to analysts' expectations of $0.65 million. As a group, analysts forecast that Fulcrum Therapeutics will post -1.76 EPS for the current year.

Insider Activity at Fulcrum Therapeutics

In related news, VP Greg Tourangeau sold 4,884 shares of the business's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $11.72, for a total value of $57,240.48. Following the sale, the vice president now owns 11,807 shares of the company's stock, valued at approximately $138,378.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mass General Brigham Inc acquired a new position in Fulcrum Therapeutics in the first quarter valued at about $1,939,000. Barclays PLC acquired a new position in Fulcrum Therapeutics in the fourth quarter valued at about $460,000. Opaleye Management Inc. acquired a new position in Fulcrum Therapeutics in the fourth quarter valued at about $878,000. ADAR1 Capital Management LLC acquired a new position in shares of Fulcrum Therapeutics during the fourth quarter worth about $4,302,000. Finally, LM Advisors LLC acquired a new position in shares of Fulcrum Therapeutics during the fourth quarter worth about $109,000. 89.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Piper Sandler boosted their price objective on Fulcrum Therapeutics from $13.00 to $15.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 28th. The Goldman Sachs Group boosted their target price on Fulcrum Therapeutics from $5.00 to $6.00 and gave the stock a "neutral" rating in a research report on Thursday, January 25th. HC Wainwright upped their price objective on Fulcrum Therapeutics from $14.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, February 28th. Finally, Royal Bank of Canada began coverage on Fulcrum Therapeutics in a report on Wednesday, March 13th. They issued an "outperform" rating and a $14.00 price objective for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $13.17.

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.