Foghorn Therapeutics Inc. (NASDAQ:FHTX) Stock Holdings Increased by Rhumbline Advisers

Rhumbline Advisers boosted its position in Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 34.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,910 shares of the company’s stock after buying an additional 9,171 shares during the quarter. Rhumbline Advisers owned approximately 0.08% of Foghorn Therapeutics worth $206,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FHTX. Birchview Capital LP increased its holdings in Foghorn Therapeutics by 21.2% in the fourth quarter. Birchview Capital LP now owns 320,930 shares of the company’s stock valued at $2,070,000 after buying an additional 56,087 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new stake in Foghorn Therapeutics in the first quarter valued at about $77,000. Vanguard Group Inc. increased its holdings in Foghorn Therapeutics by 7.5% in the first quarter. Vanguard Group Inc. now owns 1,102,493 shares of the company’s stock valued at $7,398,000 after buying an additional 77,380 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Foghorn Therapeutics in the first quarter valued at about $283,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Foghorn Therapeutics by 101.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 216,270 shares of the company’s stock valued at $1,451,000 after buying an additional 108,700 shares during the last quarter. 61.55% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Carlos Costa sold 35,756 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $10.04, for a total value of $358,990.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.07% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

FHTX has been the subject of several recent research reports. Evercore ISI started coverage on Foghorn Therapeutics in a report on Monday, August 19th. They set an “outperform” rating and a $20.00 target price for the company. Morgan Stanley upped their price target on shares of Foghorn Therapeutics from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 24th. Wedbush restated an “outperform” rating and set a $13.00 target price on shares of Foghorn Therapeutics in a report on Thursday, August 8th. Jefferies Financial Group initiated coverage on Foghorn Therapeutics in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $18.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Foghorn Therapeutics in a research report on Monday, August 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Foghorn Therapeutics Price Performance

Shares of FHTX opened at $9.36 on Friday. The company has a market capitalization of $398.60 million, a P/E ratio of -4.25 and a beta of 3.11. Foghorn Therapeutics Inc. has a one year low of $2.70 and a one year high of $10.25. The business’s 50 day simple moving average is $7.64 and its 200-day simple moving average is $6.55.

Foghorn Therapeutics (NASDAQ:FHTX) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.15. The company had revenue of $6.89 million during the quarter, compared to the consensus estimate of $6.60 million. On average, sell-side analysts anticipate that Foghorn Therapeutics Inc. will post -1.88 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.