Short Interest in Fulcrum Therapeutics, Inc. (NASDAQ:FULC) Decreases By 5.8%

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) saw a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 4,680,000 shares, a drop of 5.8% from the October 31st total of 4,970,000 shares. Based on an average trading volume of 1,650,000 shares, the days-to-cover ratio is presently 2.8 days.

Fulcrum Therapeutics Trading Down 1.0 %

NASDAQ:FULC traded down $0.04 during midday trading on Tuesday, reaching $3.84. The company had a trading volume of 9,916 shares, compared to its average volume of 982,130. The stock’s fifty day simple moving average is $3.44 and its 200-day simple moving average is $6.17. Fulcrum Therapeutics has a 12-month low of $2.86 and a 12-month high of $13.70.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. National Bank of Canada FI boosted its position in shares of Fulcrum Therapeutics by 869.6% during the 2nd quarter. National Bank of Canada FI now owns 4,460 shares of the company’s stock worth $28,000 after acquiring an additional 4,000 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Fulcrum Therapeutics by 64.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 12,002 shares of the company’s stock valued at $43,000 after purchasing an additional 4,701 shares during the last quarter. SG Americas Securities LLC raised its holdings in Fulcrum Therapeutics by 26.5% during the third quarter. SG Americas Securities LLC now owns 33,019 shares of the company’s stock worth $118,000 after purchasing an additional 6,926 shares in the last quarter. Profund Advisors LLC purchased a new stake in shares of Fulcrum Therapeutics during the 2nd quarter worth approximately $68,000. Finally, American Century Companies Inc. boosted its holdings in shares of Fulcrum Therapeutics by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 104,371 shares of the company’s stock valued at $647,000 after buying an additional 12,167 shares in the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FULC has been the subject of several recent analyst reports. Bank of America cut Fulcrum Therapeutics from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $10.00 to $2.00 in a research note on Thursday, September 12th. Leerink Partners reissued a “market perform” rating and set a $4.00 target price on shares of Fulcrum Therapeutics in a research note on Thursday, September 12th. Leerink Partnrs cut Fulcrum Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $4.00 price objective on shares of Fulcrum Therapeutics in a research note on Thursday, November 14th. Finally, Cantor Fitzgerald cut Fulcrum Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Thursday, September 12th. One equities research 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.33.

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.