Short Interest in Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Increases By 6.1%

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) was the recipient of a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 8,150,000 shares, an increase of 6.1% from the July 31st total of 7,680,000 shares. Based on an average trading volume of 901,700 shares, the days-to-cover ratio is currently 9.0 days.

Hedge Funds Weigh In On Fulcrum Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in 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 acquiring an additional 18,681 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Fulcrum Therapeutics by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,480,926 shares of the company’s stock valued at $9,182,000 after purchasing an additional 176,114 shares in the last quarter. Vestal Point Capital LP bought a new position in shares of Fulcrum Therapeutics in the 4th quarter valued at $6,919,000. ADAR1 Capital Management LLC acquired a new position in shares of Fulcrum Therapeutics during the 4th quarter worth $4,302,000. Finally, Jane Street Group LLC lifted its position in shares of Fulcrum Therapeutics by 54.3% during the 1st quarter. Jane Street Group LLC now owns 535,062 shares of the company’s stock worth $5,051,000 after buying an additional 188,212 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Fulcrum Therapeutics Price Performance

Fulcrum Therapeutics stock opened at $8.10 on Wednesday. The firm has a market cap of $505.44 million, a PE ratio of -5.06 and a beta of 2.29. The stock’s fifty day moving average price is $8.24 and its two-hundred day moving average price is $8.40. Fulcrum Therapeutics has a one year low of $3.14 and a one year high of $13.70.

Fulcrum Therapeutics (NASDAQ:FULC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.93. Fulcrum Therapeutics had a negative return on equity of 8.28% and a negative net margin of 3,470.05%. The company had revenue of $80.00 million for the quarter, compared to analysts’ expectations of $80.00 million. During the same quarter last year, the business earned ($0.38) earnings per share. Sell-side analysts expect that Fulcrum Therapeutics will post -0.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FULC shares. The Goldman Sachs Group raised Fulcrum Therapeutics from a “neutral” rating to a “buy” rating and upped their target price for the company from $6.00 to $15.00 in a research report on Monday, May 13th. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Fulcrum Therapeutics in a report on Thursday, August 1st. Oppenheimer dropped their target price on Fulcrum Therapeutics from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Tuesday, May 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 target price on shares of Fulcrum Therapeutics in a research report on Wednesday, July 10th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $16.33.

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.