Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Sees Large Decrease in Short Interest

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 3,730,000 shares, a decline of 28.5% from the March 15th total of 5,220,000 shares. Based on an average daily volume of 448,900 shares, the short-interest ratio is currently 8.3 days. Approximately 7.2% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “neutral” rating and set a $4.00 price objective on shares of Fulcrum Therapeutics in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.63.

Fulcrum Therapeutics Trading Up 7.5 %

Shares of NASDAQ:FULC opened at $3.29 on Friday. The company has a market cap of $177.59 million, a price-to-earnings ratio of -10.61 and a beta of 2.13. Fulcrum Therapeutics has a 12 month low of $2.32 and a 12 month high of $10.13. The company has a 50-day moving average price of $3.16 and a 200-day moving average price of $3.61.

Fulcrum Therapeutics (NASDAQ:FULC) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.03). As a group, research analysts forecast that Fulcrum Therapeutics will post -0.16 EPS for the current fiscal year.

Institutional Trading of Fulcrum Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its position in shares of Fulcrum Therapeutics by 2.3% in the 4th quarter. Bank of New York Mellon Corp now owns 141,873 shares of the company’s stock worth $667,000 after purchasing an additional 3,126 shares during the period. American Century Companies Inc. raised its stake in Fulcrum Therapeutics by 5.9% in the fourth quarter. American Century Companies Inc. now owns 120,611 shares of the company’s stock worth $567,000 after buying an additional 6,770 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Fulcrum Therapeutics in the fourth quarter worth about $38,000. Wells Fargo & Company MN lifted its holdings in Fulcrum Therapeutics by 34.4% in the fourth quarter. Wells Fargo & Company MN now owns 34,264 shares of the company’s stock worth $161,000 after buying an additional 8,761 shares during the period. Finally, Shay Capital LLC boosted its position in Fulcrum Therapeutics by 4.2% during the 4th quarter. Shay Capital LLC now owns 301,464 shares of the company’s stock valued at $1,417,000 after acquiring an additional 12,227 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.

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.