State Street Corp Grows Stake in Foghorn Therapeutics Inc. (NASDAQ:FHTX)

State Street Corp lifted its holdings in shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 4.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 505,945 shares of the company’s stock after acquiring an additional 23,630 shares during the period. State Street Corp owned 0.91% of Foghorn Therapeutics worth $4,710,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FHTX. Charles Schwab Investment Management Inc. raised its holdings in Foghorn Therapeutics by 10.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 75,495 shares of the company’s stock worth $703,000 after purchasing an additional 7,000 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of Foghorn Therapeutics by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 15,898 shares of the company’s stock valued at $148,000 after buying an additional 8,958 shares during the last quarter. Rhumbline Advisers raised its stake in Foghorn Therapeutics by 34.3% during the 2nd quarter. Rhumbline Advisers now owns 35,910 shares of the company’s stock worth $206,000 after acquiring an additional 9,171 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Foghorn Therapeutics in the third quarter valued at $99,000. Finally, Renaissance Technologies LLC acquired a new position in Foghorn Therapeutics in the second quarter valued at $62,000. Hedge funds and other institutional investors own 61.55% of the company’s stock.

Analyst Upgrades and Downgrades

FHTX has been the topic of a number of research analyst reports. Jefferies Financial Group cut their target price on Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target (down previously from $20.00) on shares of Foghorn Therapeutics in a research report on Tuesday, December 17th. Finally, Morgan Stanley increased their price objective on Foghorn Therapeutics from $6.00 to $9.00 and gave the company an “equal weight” rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Foghorn Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.80.

Foghorn Therapeutics Stock Down 5.3 %

NASDAQ FHTX opened at $4.82 on Monday. The business’s 50-day moving average price is $7.23 and its 200 day moving average price is $7.13. The firm has a market cap of $267.96 million, a P/E ratio of -2.51 and a beta of 3.10. Foghorn Therapeutics Inc. has a 52-week low of $2.70 and a 52-week high of $10.25.

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.