Short Interest in Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Decreases By 7.0%

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) was the target of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 4,260,000 shares, a decrease of 7.0% from the November 30th total of 4,580,000 shares. Based on an average daily trading volume, of 1,040,000 shares, the days-to-cover ratio is currently 4.1 days.

Fulcrum Therapeutics Trading Down 2.3 %

Shares of FULC stock traded down $0.11 during trading hours on Monday, hitting $4.68. The company’s stock had a trading volume of 900,677 shares, compared to its average volume of 1,005,290. The stock has a market cap of $252.43 million, a PE ratio of -15.10 and a beta of 2.14. Fulcrum Therapeutics has a 12-month low of $2.86 and a 12-month high of $13.70. The company has a 50 day moving average of $3.70 and a 200 day moving average of $5.66.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC raised its stake in shares of Fulcrum Therapeutics by 367.1% during the 3rd quarter. Barclays PLC now owns 124,141 shares of the company’s stock valued at $443,000 after buying an additional 97,565 shares during the last quarter. Geode Capital Management LLC raised its position in Fulcrum Therapeutics by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,320,862 shares of the company’s stock valued at $4,716,000 after acquiring an additional 13,485 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Fulcrum Therapeutics in the third quarter valued at approximately $254,000. State Street Corp boosted its position in Fulcrum Therapeutics by 61.4% in the 3rd quarter. State Street Corp now owns 1,680,229 shares of the company’s stock worth $5,998,000 after purchasing an additional 638,955 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Fulcrum Therapeutics during the 3rd quarter worth approximately $721,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Leerink Partners restated a “market perform” rating and issued a $4.00 target price on shares of Fulcrum Therapeutics in a research note on Thursday, September 12th. Stifel Nicolaus lowered Fulcrum Therapeutics from a “buy” rating to a “hold” rating and reduced their target price for the company from $22.00 to $3.00 in a research report on Thursday, September 12th. Leerink Partnrs downgraded Fulcrum Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 12th. HC Wainwright reaffirmed a “neutral” rating and issued a $4.00 price objective on shares of Fulcrum Therapeutics in a research report on Thursday, November 14th. Finally, Bank of America downgraded shares of Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $10.00 to $2.00 in a research report 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’s stock. According to data from MarketBeat.com, Fulcrum Therapeutics currently has an average rating of “Hold” and a consensus price target of $9.33.

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.