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

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 2,260,000 shares, a decline of 5.4% from the March 15th total of 2,390,000 shares. Based on an average daily volume of 668,800 shares, the days-to-cover ratio is currently 3.4 days.

Wall Street Analyst Weigh In

FULC has been the topic of several recent research reports. The Goldman Sachs Group upped their target price on shares of Fulcrum Therapeutics from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. HC Wainwright upped their target price on shares of Fulcrum Therapeutics from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Royal Bank of Canada initiated coverage on shares of Fulcrum Therapeutics in a research note on Wednesday, March 13th. They set an “outperform” rating and a $14.00 target price on the stock. Finally, Piper Sandler upped their target price on shares of Fulcrum Therapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.17.

Insider Buying and Selling at Fulcrum Therapeutics

In other news, VP Greg Tourangeau sold 4,884 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $11.72, for a total value of $57,240.48. Following the transaction, the vice president now directly owns 11,807 shares in the company, valued at approximately $138,378.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FULC. MetLife Investment Management LLC grew its position in shares of Fulcrum Therapeutics by 57.0% in the 1st quarter. MetLife Investment Management LLC now owns 15,001 shares of the company’s stock valued at $355,000 after buying an additional 5,446 shares during the last quarter. Rhumbline Advisers boosted its stake in Fulcrum Therapeutics by 7.6% during the 1st quarter. Rhumbline Advisers now owns 34,115 shares of the company’s stock worth $807,000 after purchasing an additional 2,408 shares during the period. BlackRock Inc. boosted its stake in Fulcrum Therapeutics by 0.9% during the 1st quarter. BlackRock Inc. now owns 2,228,610 shares of the company’s stock worth $52,707,000 after purchasing an additional 20,532 shares during the period. Dimensional Fund Advisors LP boosted its stake in Fulcrum Therapeutics by 50.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 282,793 shares of the company’s stock worth $6,688,000 after purchasing an additional 95,272 shares during the period. Finally, Lord Abbett & CO. LLC boosted its stake in Fulcrum Therapeutics by 1.8% during the 1st quarter. Lord Abbett & CO. LLC now owns 188,651 shares of the company’s stock worth $4,462,000 after purchasing an additional 3,417 shares during the period. 89.83% of the stock is owned by hedge funds and other institutional investors.

Fulcrum Therapeutics Price Performance

Shares of NASDAQ:FULC opened at $7.41 on Wednesday. Fulcrum Therapeutics has a 52 week low of $2.42 and a 52 week high of $13.70. The company’s 50 day moving average is $9.59 and its two-hundred day moving average is $6.82.

Fulcrum Therapeutics (NASDAQ:FULC) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.04. The company had revenue of $0.87 million for the quarter, compared to the consensus estimate of $0.65 million. Fulcrum Therapeutics had a negative net margin of 3,470.05% and a negative return on equity of 36.65%. As a group, research analysts forecast that Fulcrum Therapeutics will post -1.76 earnings per share for the current year.

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.