Short Interest in Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Declines By 7.3%

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) was the recipient of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 4,330,000 shares, a drop of 7.3% from the January 15th total of 4,670,000 shares. Based on an average daily trading volume, of 826,100 shares, the days-to-cover ratio is currently 5.2 days.

Analysts Set New Price Targets

FULC has been the subject of a number of research analyst reports. HC Wainwright reiterated a “neutral” rating and set a $4.00 price target on shares of Fulcrum Therapeutics in a report on Thursday, November 14th. Royal Bank of Canada restated a “sector perform” rating and set a $4.00 price objective on shares of Fulcrum Therapeutics in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.33.

Fulcrum Therapeutics Trading Up 2.0 %

Shares of Fulcrum Therapeutics stock opened at $3.77 on Wednesday. The firm’s 50-day simple moving average is $4.20 and its 200-day simple moving average is $4.80. Fulcrum Therapeutics has a twelve month low of $2.86 and a twelve month high of $13.70.

Institutional Investors Weigh In On Fulcrum Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Fulcrum Therapeutics by 223.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 569,185 shares of the company’s stock worth $2,032,000 after buying an additional 393,202 shares in the last quarter. State Street Corp boosted its stake in Fulcrum Therapeutics by 61.4% in the third 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. Barclays PLC increased its stake in shares of Fulcrum Therapeutics by 367.1% in the third quarter. Barclays PLC now owns 124,141 shares of the company’s stock valued at $443,000 after buying an additional 97,565 shares in the last quarter. Braidwell LP bought a new position in shares of Fulcrum Therapeutics in the third quarter valued at about $3,817,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Fulcrum Therapeutics during the 3rd quarter worth about $474,000. 89.83% of the stock is owned by institutional investors and hedge funds.

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.