Short Interest in Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Decreases By 36.1%

Key Points

• Fulcrum Therapeutics experienced a significant decrease in short interest, dropping by 36.1% in August from 5,820,000 shares to 3,720,000 shares.
• Analysts have generally improved their outlook on Fulcrum Therapeutics, with recommendations ranging from "strong-buy" to "buy" and a consensus target price of $9.60.
• The company's latest earnings report showed an EPS of ($0.28), which was better than the expected ($0.29), indicating a positive earnings performance against forecasts.

Fulcrum Therapeutics, Inc. (NASDAQ:FULC - Get Free Report) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 3,720,000 shares, a decrease of 36.1% from the August 15th total of 5,820,000 shares. Currently, 7.4% of the company's stock are short sold. Based on an average daily volume of 654,300 shares, the days-to-cover ratio is presently 5.7 days. Based on an average daily volume of 654,300 shares, the days-to-cover ratio is presently 5.7 days. Currently, 7.4% of the company's stock are short sold.

Fulcrum Therapeutics Stock Performance

NASDAQ:FULC opened at $7.00 on Monday. The firm has a market capitalization of $378.63 million, a price-to-earnings ratio of -5.74 and a beta of 2.82. Fulcrum Therapeutics has a 52-week low of $2.32 and a 52-week high of $8.50. The stock has a fifty day moving average of $7.08 and a 200 day moving average of $5.62.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.01. Equities analysts forecast that Fulcrum Therapeutics will post -0.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on FULC shares. Leerink Partnrs raised Fulcrum Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 23rd. Piper Sandler reissued an "overweight" rating and issued a $9.00 price objective (up from $6.00) on shares of Fulcrum Therapeutics in a research note on Thursday, May 29th. Royal Bank Of Canada increased their price objective on Fulcrum Therapeutics from $4.00 to $5.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Leerink Partners raised Fulcrum Therapeutics from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $4.00 to $12.00 in a research note on Friday, May 23rd. Finally, HC Wainwright upgraded Fulcrum Therapeutics from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $4.00 to $12.00 in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Fulcrum Therapeutics has an average rating of "Buy" and a consensus target price of $9.60.

Institutional Investors Weigh In On Fulcrum Therapeutics

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new stake in Fulcrum Therapeutics during the fourth quarter valued at $38,000. Millennium Management LLC boosted its stake in Fulcrum Therapeutics by 224.0% during the fourth quarter. Millennium Management LLC now owns 76,123 shares of the company's stock valued at $358,000 after buying an additional 52,628 shares during the period. XTX Topco Ltd bought a new stake in Fulcrum Therapeutics during the first quarter valued at $144,000. Northern Trust Corp boosted its stake in Fulcrum Therapeutics by 25.1% during the fourth quarter. Northern Trust Corp now owns 710,321 shares of the company's stock valued at $3,339,000 after buying an additional 142,578 shares during the period. Finally, Nuveen LLC bought a new stake in Fulcrum Therapeutics during the first quarter worth about $441,000. Institutional investors own 89.83% of the company's stock.

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.

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