JPMorgan Chase & Co. Purchases 45,565 Shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX)

JPMorgan Chase & Co. raised its position in Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 415.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 56,531 shares of the company’s stock after acquiring an additional 45,565 shares during the period. JPMorgan Chase & Co. owned about 0.10% of Foghorn Therapeutics worth $267,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in FHTX. Barclays PLC boosted its holdings in Foghorn Therapeutics by 191.6% during the third quarter. Barclays PLC now owns 39,920 shares of the company’s stock worth $371,000 after purchasing an additional 26,228 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Foghorn Therapeutics by 27.5% in the 3rd quarter. Geode Capital Management LLC now owns 677,386 shares of the company’s stock valued at $6,308,000 after acquiring an additional 146,276 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Foghorn Therapeutics in the fourth quarter valued at about $56,000. Wingate Wealth Advisors Inc. bought a new stake in Foghorn Therapeutics during the fourth quarter worth about $134,000. Finally, Rhumbline Advisers boosted its position in Foghorn Therapeutics by 9.1% during the fourth quarter. Rhumbline Advisers now owns 36,384 shares of the company’s stock valued at $172,000 after purchasing an additional 3,049 shares during the last quarter. 61.55% of the stock is owned by institutional investors.

Foghorn Therapeutics Price Performance

FHTX opened at $4.24 on Friday. The company has a market capitalization of $235.79 million, a PE ratio of -2.21 and a beta of 3.16. The business has a fifty day simple moving average of $4.05 and a 200 day simple moving average of $5.42. Foghorn Therapeutics Inc. has a 1 year low of $2.94 and a 1 year high of $10.25.

Foghorn Therapeutics (NASDAQ:FHTX) last issued its quarterly earnings results on Thursday, March 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.13. The company had revenue of $2.86 million for the quarter, compared to analyst estimates of $8.56 million. Equities analysts anticipate that Foghorn Therapeutics Inc. will post -1.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FHTX has been the subject of several recent analyst reports. Citigroup assumed coverage on Foghorn Therapeutics in a report on Wednesday, April 23rd. They issued an “outperform” rating for the company. B. Riley initiated coverage on shares of Foghorn Therapeutics in a research note on Thursday, January 30th. They set a “buy” rating and a $10.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $13.00 target price on shares of Foghorn Therapeutics in a research note on Wednesday. JMP Securities reissued a “market outperform” rating and set a $9.00 price target on shares of Foghorn Therapeutics in a research report on Wednesday. Finally, Citizens Jmp assumed coverage on Foghorn Therapeutics in a research report on Wednesday, April 23rd. They issued a “mkt outperform” rating and a $9.00 price objective for the company. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $12.13.

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