Exchange Traded Concepts LLC acquired a new stake in shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,471 shares of the company’s stock, valued at approximately $116,000.
Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Foghorn Therapeutics by 36.3% during the first quarter. JPMorgan Chase & Co. now owns 15,500 shares of the company’s stock valued at $96,000 after acquiring an additional 4,125 shares in the last quarter. State Street Corp boosted its holdings in shares of Foghorn Therapeutics by 1.3% during the 1st quarter. State Street Corp now owns 409,513 shares of the company’s stock valued at $2,539,000 after purchasing an additional 5,375 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Foghorn Therapeutics by 4.3% during the first quarter. Geode Capital Management LLC now owns 386,008 shares of the company’s stock valued at $2,393,000 after purchasing an additional 15,759 shares in the last quarter. Affinity Asset Advisors LLC increased its holdings in shares of Foghorn Therapeutics by 24.3% in the first quarter. Affinity Asset Advisors LLC now owns 136,771 shares of the company’s stock worth $848,000 after purchasing an additional 26,780 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Foghorn Therapeutics by 50.2% in the first quarter. Deutsche Bank AG now owns 12,979 shares of the company’s stock worth $80,000 after buying an additional 4,340 shares in the last quarter. Hedge funds and other institutional investors own 63.94% of the company’s stock.
Analysts Set New Price Targets
FHTX has been the topic of a number of research reports. The Goldman Sachs Group reduced their price objective on Foghorn Therapeutics from $21.00 to $19.00 in a research note on Wednesday, June 28th. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Foghorn Therapeutics in a report on Monday, August 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Foghorn Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $16.17.
Insider Buying and Selling
In related news, insider Samuel Agresta sold 311,297 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $8.25, for a total value of $2,568,200.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.23% of the stock is owned by corporate insiders.
Foghorn Therapeutics Price Performance
NASDAQ:FHTX opened at $3.80 on Wednesday. The firm has a market capitalization of $159.08 million, a price-to-earnings ratio of -1.39 and a beta of 2.39. The business has a 50 day simple moving average of $7.10 and a 200-day simple moving average of $7.12. Foghorn Therapeutics Inc. has a 1 year low of $3.32 and a 1 year high of $9.97.
Foghorn Therapeutics (NASDAQ:FHTX – Get Free Report) last posted its quarterly earnings data on Friday, August 4th. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.73) by $0.03. Foghorn Therapeutics had a negative net margin of 527.62% and a negative return on equity of 947.38%. The company had revenue of $5.60 million during the quarter, compared to analyst estimates of $6.65 million. As a group, analysts expect that Foghorn Therapeutics Inc. will post -2.8 earnings per share for the current fiscal year.
Foghorn Therapeutics Company Profile
Foghorn Therapeutics Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of medicines targeting genetically determined dependencies within the chromatin regulatory system. The company uses its proprietary Gene Traffic Control platform to identify, validate, and potentially drug targets within the system.
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