Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Short Interest Down 36.1% in August

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 decline in short interest during the month of August. As of August 31st, there was short interest totaling 3,720,000 shares, a decline 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.

Wall Street Analyst Weigh In

FULC has been the topic of several research analyst reports. Piper Sandler reiterated an "overweight" rating and set a $9.00 price target (up from $6.00) on shares of Fulcrum Therapeutics in a research note on Thursday, May 29th. Leerink Partnrs upgraded shares of Fulcrum Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 23rd. Royal Bank Of Canada lifted their price objective on shares of Fulcrum Therapeutics from $4.00 to $5.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Leerink Partners upgraded shares of Fulcrum Therapeutics from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $4.00 to $12.00 in a research note on Friday, May 23rd. Finally, Wall Street Zen lowered shares of Fulcrum Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $9.60.

Fulcrum Therapeutics Stock Performance

FULC stock traded down $0.11 during trading on Friday, reaching $7.43. 210,642 shares of the company were exchanged, compared to its average volume of 561,490. The company has a market cap of $401.90 million, a P/E ratio of -6.10 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's 50 day moving average price is $7.05 and its 200 day moving average price is $5.69.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last announced its quarterly earnings results 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. As a group, equities research analysts forecast that Fulcrum Therapeutics will post -0.16 EPS for the current year.

Hedge Funds Weigh In On Fulcrum Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of FULC. BNP Paribas Financial Markets acquired a new stake in Fulcrum Therapeutics in the 4th quarter valued at $38,000. Russell Investments Group Ltd. boosted its stake in Fulcrum Therapeutics by 4,209.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,308 shares of the company's stock valued at $64,000 after acquiring an additional 9,092 shares during the last quarter. Jump Financial LLC bought a new position in Fulcrum Therapeutics during the 1st quarter valued at $30,000. Brooklyn Investment Group boosted its stake in 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 during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Fulcrum Therapeutics by 26.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,943 shares of the company's stock valued at $89,000 after acquiring an additional 2,677 shares during the last quarter. Institutional investors and hedge funds 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.