Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Short Interest Up 18.6% in April

Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Get Free Report) was the recipient of a large increase in short interest in 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 presently 5.0 days.

Insider Buying and Selling at Fulcrum Therapeutics

In other Fulcrum Therapeutics news, VP Greg Tourangeau sold 4,884 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 11,807 shares in the company, valued at $138,378.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its holdings in shares of Fulcrum Therapeutics by 66.7% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,916 shares of the company's stock valued at $112,000 after buying an additional 4,766 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in Fulcrum Therapeutics during the 4th quarter valued at about $68,000. SG Americas Securities LLC purchased a new stake in shares of Fulcrum Therapeutics in the first quarter worth approximately $115,000. Vanguard Group Inc. lifted its holdings in shares of Fulcrum Therapeutics by 0.7% in 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 in the last quarter. Finally, Brown Wealth Management LLC purchased a new position in shares of Fulcrum Therapeutics during the third quarter valued at approximately $111,000. 89.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FULC shares. The Goldman Sachs Group upgraded Fulcrum Therapeutics from a "neutral" rating to a "buy" rating and increased their price target for the company from $6.00 to $15.00 in a research note on Monday. Oppenheimer cut their target price on shares of Fulcrum Therapeutics from $16.00 to $14.00 and set an "outperform" rating on the stock in a research report on Tuesday. Royal Bank of Canada started coverage on shares of Fulcrum Therapeutics in a research note on Wednesday, March 13th. They set an "outperform" rating and a $14.00 price target for the company. Piper Sandler lifted their price target 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. Finally, HC Wainwright restated a "buy" rating and issued a $17.00 price objective on shares of Fulcrum Therapeutics in a report on Tuesday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Fulcrum Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $14.33.

Fulcrum Therapeutics Stock Performance

Shares of FULC stock traded up $0.56 during mid-day trading on Tuesday, hitting $7.91. The company's stock had a trading volume of 1,114,223 shares, compared to its average volume of 622,445. The company has a market cap of $491.61 million, a PE ratio of -4.92 and a beta of 2.35. The company's fifty day simple moving average is $8.74 and its 200-day simple moving average is $7.29. Fulcrum Therapeutics has a 52 week low of $2.65 and a 52 week high of $13.70.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.40) 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 36.65%. The business had revenue of $0.87 million during the quarter, compared to analysts' expectations of $0.65 million. On average, equities analysts anticipate that Fulcrum Therapeutics will post -1.76 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.