Raymond James & Associates lifted its stake in shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX – Free Report) by 10.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,190,989 shares of the company’s stock after purchasing an additional 112,933 shares during the quarter. Raymond James & Associates owned about 2.85% of Foghorn Therapeutics worth $8,385,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Tower Research Capital LLC TRC grew its stake in Foghorn Therapeutics by 92.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,687 shares of the company’s stock valued at $31,000 after acquiring an additional 1,767 shares during the last quarter. UBS Group AG acquired a new stake in Foghorn Therapeutics in the 4th quarter valued at about $32,000. Wells Fargo & Company MN grew its stake in Foghorn Therapeutics by 1,368.4% in the 4th quarter. Wells Fargo & Company MN now owns 5,389 shares of the company’s stock valued at $34,000 after acquiring an additional 5,022 shares during the last quarter. Barclays PLC grew its stake in Foghorn Therapeutics by 533.5% in the 4th quarter. Barclays PLC now owns 5,397 shares of the company’s stock valued at $34,000 after acquiring an additional 4,545 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in Foghorn Therapeutics by 50.2% in the 1st quarter. Deutsche Bank AG now owns 12,979 shares of the company’s stock valued at $80,000 after acquiring an additional 4,340 shares during the last quarter. 63.94% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Foghorn Therapeutics
In other 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 transaction of $2,568,200.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 9.23% of the company’s stock.
Foghorn Therapeutics Price Performance
Foghorn Therapeutics (NASDAQ:FHTX – Get Free Report) last announced its quarterly earnings data on Friday, August 4th. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.03. The business had revenue of $5.60 million for the quarter, compared to analyst estimates of $6.65 million. Foghorn Therapeutics had a negative net margin of 527.62% and a negative return on equity of 947.38%. Analysts expect that Foghorn Therapeutics Inc. will post -2.8 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the stock. The Goldman Sachs Group lowered their price objective on shares of 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 price objective on shares of Foghorn Therapeutics in a research note on Monday, August 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.17.
Get Our Latest Analysis on FHTX
Foghorn Therapeutics 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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