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

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

Institutional Trading of Fulcrum Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FULC. Suvretta Capital Management LLC lifted its position in shares of Fulcrum Therapeutics by 182.3% in the 4th quarter. Suvretta Capital Management LLC now owns 3,338,466 shares of the company’s stock worth $15,691,000 after acquiring an additional 2,155,675 shares during the period. Adage Capital Partners GP L.L.C. raised its position in Fulcrum Therapeutics by 50.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,000,000 shares of the company’s stock valued at $14,100,000 after purchasing an additional 1,000,000 shares during the last quarter. State Street Corp boosted its holdings in Fulcrum Therapeutics by 61.4% in the third quarter. State Street Corp now owns 1,680,229 shares of the company’s stock valued at $5,998,000 after acquiring an additional 638,955 shares during the last quarter. Woodline Partners LP boosted its stake in shares of Fulcrum Therapeutics by 110.3% in the 4th quarter. Woodline Partners LP now owns 1,410,520 shares of the company’s stock valued at $6,629,000 after purchasing an additional 739,713 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Fulcrum Therapeutics by 1.0% in 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 during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Fulcrum Therapeutics Stock Performance

Shares of NASDAQ FULC traded down $0.02 during mid-day trading on Monday, reaching $3.69. 848,394 shares of the company traded hands, compared to its average volume of 464,825. The stock has a market cap of $199.04 million, a PE ratio of -11.90 and a beta of 2.03. The company’s fifty day moving average is $4.21 and its two-hundred day moving average is $4.88. Fulcrum Therapeutics has a fifty-two week low of $2.86 and a fifty-two week high of $13.70.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FULC. HC Wainwright reaffirmed a “neutral” rating and set a $4.00 target price on shares of Fulcrum Therapeutics in a research note on Thursday, November 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $4.00 price objective on shares of Fulcrum Therapeutics in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.