Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Short Interest Up 41.4% in September

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

Analyst Ratings Changes

FULC has been the subject of several recent research reports. Cantor Fitzgerald lowered shares of Fulcrum Therapeutics from an "overweight" rating to a "neutral" rating in a report on Thursday, September 12th. HC Wainwright downgraded shares of Fulcrum Therapeutics from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $17.00 to $4.00 in a research report on Friday, September 13th. Bank of America lowered Fulcrum Therapeutics from a "neutral" rating to an "underperform" rating and decreased their price objective for the company from $10.00 to $2.00 in a report on Thursday, September 12th. Stifel Nicolaus cut Fulcrum Therapeutics from a "buy" rating to a "hold" rating and cut their target price for the stock from $22.00 to $3.00 in a research note on Thursday, September 12th. Finally, Leerink Partners reaffirmed a "market perform" rating and issued a $4.00 price target on shares of Fulcrum Therapeutics in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Fulcrum Therapeutics has an average rating of "Hold" and a consensus target price of $9.33.

Fulcrum Therapeutics Price Performance

Shares of NASDAQ FULC traded down $0.23 during trading on Friday, hitting $3.77. 1,901,211 shares of the company were exchanged, compared to its average volume of 1,039,746. Fulcrum Therapeutics has a 1 year low of $2.87 and a 1 year high of $13.70. The company has a market cap of $234.32 million, a price-to-earnings ratio of -2.36 and a beta of 2.23. The firm's fifty day moving average price is $7.56 and its 200 day moving average price is $7.74.

Fulcrum Therapeutics (NASDAQ:FULC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.93. The company had revenue of $80.00 million during the quarter, compared to the consensus estimate 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 period last year, the firm earned ($0.38) EPS. On average, research analysts forecast that Fulcrum Therapeutics will post -0.28 earnings per share for the current year.

Institutional Trading of Fulcrum Therapeutics

A number of institutional investors have recently bought and sold shares of the company. Vestal Point Capital LP purchased a new stake in Fulcrum Therapeutics during the 4th quarter worth about $6,919,000. ADAR1 Capital Management LLC purchased a new stake in shares of Fulcrum Therapeutics in the fourth quarter valued at $4,302,000. Assenagon Asset Management S.A. purchased a new stake in Fulcrum Therapeutics in the second quarter valued at approximately $3,084,000. Mass General Brigham Inc acquired a new position in Fulcrum Therapeutics in the first quarter valued at $1,939,000. Finally, Jane Street Group LLC raised its holdings in Fulcrum Therapeutics by 54.3% in the first quarter. Jane Street Group LLC now owns 535,062 shares of the company's stock valued at $5,051,000 after buying an additional 188,212 shares during the period. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Fulcrum Therapeutics Company Profile

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.