Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Short Interest Update

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 11,400,000 shares, a growth of 41.4% from the August 31st total of 8,060,000 shares. Based on an average daily trading volume, of 1,680,000 shares, the short-interest ratio is presently 6.8 days.

Analyst Upgrades and Downgrades

A number of research firms have commented on FULC. HC Wainwright downgraded shares of Fulcrum Therapeutics from a “buy” rating to a “neutral” rating and cut their target price for the company from $17.00 to $4.00 in a research report on Friday, September 13th. Royal Bank of Canada lowered Fulcrum Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $15.00 to $4.00 in a research report on Thursday, September 12th. Stifel Nicolaus cut Fulcrum Therapeutics from a “buy” rating to a “hold” rating and lowered their target price for the stock from $22.00 to $3.00 in a report on Thursday, September 12th. Leerink Partners reaffirmed a “market perform” rating and issued a $4.00 target price on shares of Fulcrum Therapeutics in a research report on Thursday, September 12th. Finally, Cantor Fitzgerald downgraded shares of Fulcrum Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.33.

Fulcrum Therapeutics Stock Down 5.8 %

Shares of NASDAQ FULC traded down $0.23 during mid-day trading on Friday, hitting $3.77. 1,901,211 shares of the company traded hands, compared to its average volume of 1,039,746. The stock has a market capitalization of $234.32 million, a price-to-earnings ratio of -2.36 and a beta of 2.23. Fulcrum Therapeutics has a 1 year low of $2.87 and a 1 year high of $13.70. The business has a 50 day moving average of $7.56 and a two-hundred day moving average of $7.74.

Fulcrum Therapeutics (NASDAQ:FULC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.93. The company had revenue of $80.00 million for the quarter, compared to analyst estimates of $80.00 million. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 8.28%. During the same quarter last year, the firm posted ($0.38) earnings per share. As a group, research analysts anticipate that Fulcrum Therapeutics will post -0.28 EPS for the current year.

Hedge Funds Weigh In On Fulcrum Therapeutics

Several institutional investors have recently modified their holdings of the stock. Algert Global LLC grew its holdings in Fulcrum Therapeutics by 202.1% in the 2nd quarter. Algert Global LLC now owns 41,303 shares of the company’s stock valued at $256,000 after buying an additional 27,633 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in Fulcrum Therapeutics in the second quarter worth approximately $152,000. Caxton Associates LP acquired a new stake in shares of Fulcrum Therapeutics in the 2nd quarter valued at about $117,000. Marshall Wace LLP increased its stake in Fulcrum Therapeutics by 47.7% during the 2nd quarter. Marshall Wace LLP now owns 333,161 shares of the company’s stock valued at $2,066,000 after purchasing an additional 107,588 shares in the last quarter. Finally, Profund Advisors LLC bought a new stake in Fulcrum Therapeutics during the second quarter worth $68,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

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.