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

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) was the target of a significant decline in short interest in December. As of December 15th, there was short interest totaling 2,994,328 shares, a decline of 21.3% from the November 30th total of 3,806,493 shares. Approximately 5.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,866,199 shares, the days-to-cover ratio is presently 0.8 days. Based on an average daily trading volume, of 3,866,199 shares, the days-to-cover ratio is presently 0.8 days. Approximately 5.9% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and issued a $23.00 target price (up previously from $16.00) on shares of Fulcrum Therapeutics in a research report on Monday, December 8th. Cantor Fitzgerald boosted their price objective on Fulcrum Therapeutics from $15.00 to $24.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. HC Wainwright increased their target price on Fulcrum Therapeutics from $18.00 to $25.00 and gave the company a “buy” rating in a report on Monday, December 8th. Stifel Nicolaus set a $25.00 target price on Fulcrum Therapeutics in a research report on Monday, December 8th. Finally, Truist Financial boosted their price target on Fulcrum Therapeutics from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.00.

Fulcrum Therapeutics Price Performance

Fulcrum Therapeutics stock traded down $0.65 during trading on Tuesday, reaching $11.34. 858,743 shares of the company were exchanged, compared to its average volume of 754,715. The stock’s 50 day simple moving average is $10.44 and its two-hundred day simple moving average is $8.53. The company has a market capitalization of $613.72 million, a P/E ratio of -9.61 and a beta of 3.17. Fulcrum Therapeutics has a 52-week low of $2.32 and a 52-week high of $15.74.

Fulcrum Therapeutics (NASDAQ:FULC) last issued its earnings results on Wednesday, October 29th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.02). As a group, equities analysts forecast that Fulcrum Therapeutics will post -0.16 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Robert J. Gould sold 15,000 shares of Fulcrum Therapeutics stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $11.03, for a total value of $165,450.00. Following the sale, the director owned 484,864 shares of the company’s stock, valued at approximately $5,348,049.92. This trade represents a 3.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ra Capital Management, L.P. sold 4,175,139 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $13.98, for a total transaction of $58,368,443.22. Following the transaction, the insider owned 6,053,960 shares of the company’s stock, valued at $84,634,360.80. This represents a 40.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 7.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Fulcrum Therapeutics

A number of hedge funds have recently made changes to their positions in FULC. Adage Capital Partners GP L.L.C. increased its holdings in Fulcrum Therapeutics by 53.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,589,000 shares of the company’s stock valued at $31,572,000 after purchasing an additional 1,589,000 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Fulcrum Therapeutics during the second quarter worth $9,207,000. Exome Asset Management LLC grew its stake in shares of Fulcrum Therapeutics by 143.0% in the first quarter. Exome Asset Management LLC now owns 689,137 shares of the company’s stock valued at $1,985,000 after buying an additional 405,538 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Fulcrum Therapeutics by 448.4% in the 2nd quarter. Invesco Ltd. now owns 470,333 shares of the company’s stock valued at $3,236,000 after buying an additional 384,566 shares during the period. Finally, Nantahala Capital Management LLC lifted its stake in Fulcrum Therapeutics by 8.9% during the 3rd quarter. Nantahala Capital Management LLC now owns 4,670,784 shares of the company’s stock worth $42,971,000 after acquiring an additional 382,485 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Fulcrum Therapeutics Company Profile

Fulcrum Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing precision medicines that modulate gene expression through epigenetic control. Leveraging a proprietary target discovery platform, Fulcrum seeks to identify small?molecule therapeutics that restore normal gene function in diseases caused by genetic dysregulation. The company’s core research efforts center on transcriptional regulators and chromatin-modifying proteins, aiming to address underlying disease mechanisms rather than downstream symptoms.

Fulcrum’s most advanced programs include FTX-6058, an oral therapeutic candidate designed to elevate fetal hemoglobin levels in patients with sickle cell disease and beta-thalassemia, and a preclinical program targeting facioscapulohumeral muscular dystrophy (FSHD) by inhibiting a key epigenetic driver of aberrant gene expression.