Foghorn Therapeutics Inc. (NASDAQ:FHTX) Stake Boosted by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC increased its position in shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 788.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,000 shares of the company’s stock after acquiring an additional 4,437 shares during the period. Nisa Investment Advisors LLC’s holdings in Foghorn Therapeutics were worth $32,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Raymond James & Associates raised its stake in shares of Foghorn Therapeutics by 19.8% during the 3rd quarter. Raymond James & Associates now owns 1,426,226 shares of the company’s stock worth $7,131,000 after purchasing an additional 235,237 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Foghorn Therapeutics by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 21,535 shares of the company’s stock worth $139,000 after buying an additional 5,460 shares during the last quarter. Finally, Panagora Asset Management Inc. bought a new position in Foghorn Therapeutics during the third quarter valued at approximately $173,000. Institutional investors and hedge funds own 61.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on FHTX. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Foghorn Therapeutics in a research report on Wednesday, April 10th. Wedbush reissued an “outperform” rating and set a $13.00 target price on shares of Foghorn Therapeutics in a research report on Wednesday, April 10th.

Foghorn Therapeutics Trading Down 4.7 %

Shares of Foghorn Therapeutics stock opened at $5.05 on Tuesday. The firm has a fifty day simple moving average of $6.61 and a 200-day simple moving average of $5.19. The stock has a market capitalization of $214.98 million, a price-to-earnings ratio of -2.16 and a beta of 3.13. Foghorn Therapeutics Inc. has a 1-year low of $2.70 and a 1-year high of $9.97.

Foghorn Therapeutics (NASDAQ:FHTX) last released its earnings results on Thursday, March 7th. The company reported ($0.57) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.22. The firm had revenue of $5.77 million for the quarter, compared to analyst estimates of $4.91 million. As a group, research analysts predict that Foghorn Therapeutics Inc. will post -2.05 earnings per share for the current year.

About Foghorn Therapeutics

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 in the United States. The company uses its proprietary Gene Traffic Control platform to identify, validate, and potentially drug targets within the system.