10,895 Shares in Foghorn Therapeutics Inc. (NASDAQ:FHTX) Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC acquired a new position in shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,895 shares of the company’s stock, valued at approximately $51,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of America Corp DE boosted its stake in Foghorn Therapeutics by 14.5% during the 4th quarter. Bank of America Corp DE now owns 31,662 shares of the company’s stock worth $149,000 after acquiring an additional 4,002 shares during the last quarter. BNP Paribas Financial Markets bought a new position in Foghorn Therapeutics in the fourth quarter valued at approximately $61,000. Northern Trust Corp lifted its stake in Foghorn Therapeutics by 1.1% in the fourth quarter. Northern Trust Corp now owns 253,671 shares of the company’s stock valued at $1,197,000 after buying an additional 2,873 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Foghorn Therapeutics by 12.4% in the fourth quarter. Hsbc Holdings PLC now owns 18,728 shares of the company’s stock valued at $88,000 after buying an additional 2,061 shares in the last quarter. Finally, Barclays PLC lifted its stake in Foghorn Therapeutics by 29.3% in the fourth quarter. Barclays PLC now owns 51,609 shares of the company’s stock valued at $245,000 after buying an additional 11,689 shares in the last quarter. Institutional investors own 61.55% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on FHTX. Citigroup began coverage on shares of Foghorn Therapeutics in a research note on Wednesday, April 23rd. They issued an “outperform” rating on the stock. B. Riley began coverage on shares of Foghorn Therapeutics in a research note on Thursday, January 30th. They issued a “buy” rating and a $10.00 price target on the stock. Citizens Jmp began coverage on shares of Foghorn Therapeutics in a research note on Wednesday, April 23rd. They issued a “mkt outperform” rating and a $9.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price target on shares of Foghorn Therapeutics in a research note on Wednesday, April 30th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $9.00 price target on shares of Foghorn Therapeutics in a research note on Thursday, May 15th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $12.13.

Foghorn Therapeutics Trading Down 5.0%

Shares of FHTX opened at $4.21 on Tuesday. The company has a market cap of $234.67 million, a price-to-earnings ratio of -2.19 and a beta of 3.13. Foghorn Therapeutics Inc. has a 1-year low of $2.94 and a 1-year high of $10.25. The company’s fifty day simple moving average is $3.97 and its 200 day simple moving average is $5.11.

Foghorn Therapeutics (NASDAQ:FHTX) last issued its earnings results on Wednesday, May 14th. The company reported ($0.30) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.30). The firm had revenue of $5.95 million for the quarter, compared to analyst estimates of $4.96 million. As a group, research analysts forecast that Foghorn Therapeutics Inc. will post -1.55 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.