Foghorn Therapeutics Inc. (NASDAQ:FHTX) Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. lowered its holdings in shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,527 shares of the company’s stock after selling 1,778 shares during the period. Panagora Asset Management Inc. owned about 0.23% of Foghorn Therapeutics worth $567,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Alta Wealth Advisors LLC purchased a new stake in shares of Foghorn Therapeutics in the fourth quarter valued at $194,000. Birchview Capital LP raised its stake in Foghorn Therapeutics by 21.2% in the 4th quarter. Birchview Capital LP now owns 320,930 shares of the company’s stock valued at $2,070,000 after purchasing an additional 56,087 shares during the last quarter. Raymond James & Associates lifted its holdings in Foghorn Therapeutics by 7.8% in the 1st quarter. Raymond James & Associates now owns 2,230,456 shares of the company’s stock valued at $14,966,000 after purchasing an additional 162,069 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of Foghorn Therapeutics during the 1st quarter worth about $77,000. Finally, Vanguard Group Inc. boosted its stake in shares of Foghorn Therapeutics by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 1,102,493 shares of the company’s stock worth $7,398,000 after purchasing an additional 77,380 shares during the last quarter. Hedge funds and other institutional investors own 61.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FHTX. Wedbush reissued an “outperform” rating and set a $13.00 price objective on shares of Foghorn Therapeutics in a research note on Thursday, August 8th. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Foghorn Therapeutics in a report on Monday, August 12th. Evercore ISI started coverage on Foghorn Therapeutics in a research report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price objective for the company. Finally, Jefferies Financial Group started coverage on Foghorn Therapeutics in a research report on Tuesday. They set a “buy” rating and a $18.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Foghorn Therapeutics has an average rating of “Moderate Buy” and an average price target of $15.40.

Foghorn Therapeutics Stock Down 5.2 %

Shares of NASDAQ FHTX opened at $7.85 on Wednesday. The stock has a market capitalization of $434.34 million, a PE ratio of -3.57 and a beta of 3.10. The firm has a fifty day moving average of $6.38 and a 200-day moving average of $6.24. Foghorn Therapeutics Inc. has a 52-week low of $2.70 and a 52-week high of $8.57.

Foghorn Therapeutics (NASDAQ:FHTX) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.15. The firm had revenue of $6.89 million for the quarter, compared to analysts’ expectations of $6.60 million. Equities research analysts expect that Foghorn Therapeutics Inc. will post -1.8 EPS for the current fiscal 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.