Lazard Asset Management LLC Acquires New Shares in Foghorn Therapeutics Inc. (NASDAQ:FHTX)

Lazard Asset Management LLC acquired a new position in shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 10,582 shares of the company’s stock, valued at approximately $49,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC bought a new position in Foghorn Therapeutics in the 4th quarter worth approximately $51,000. China Universal Asset Management Co. Ltd. acquired a new stake in Foghorn Therapeutics in the fourth quarter worth approximately $56,000. BNP Paribas Financial Markets acquired a new stake in shares of Foghorn Therapeutics in the fourth quarter valued at $61,000. Wells Fargo & Company MN boosted its stake in Foghorn Therapeutics by 33.3% during the fourth quarter. Wells Fargo & Company MN now owns 15,841 shares of the company’s stock valued at $75,000 after buying an additional 3,958 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Foghorn Therapeutics during the fourth quarter worth about $75,000. 61.55% of the stock is owned by institutional investors and hedge funds.

Foghorn Therapeutics Stock Performance

Foghorn Therapeutics stock opened at $4.14 on Monday. Foghorn Therapeutics Inc. has a 52 week low of $2.94 and a 52 week high of $10.25. The firm has a market capitalization of $230.77 million, a price-to-earnings ratio of -2.16 and a beta of 3.13. The company has a 50 day moving average price of $3.94 and a 200 day moving average price of $4.98.

Foghorn Therapeutics (NASDAQ:FHTX) last issued its earnings results on Wednesday, May 14th. The company reported ($0.30) EPS for the quarter, hitting the consensus estimate of ($0.30). The business had revenue of $5.95 million during the quarter, compared to analyst estimates of $4.96 million. Equities analysts forecast that Foghorn Therapeutics Inc. will post -1.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JMP Securities reissued a “market outperform” rating and issued a $9.00 price target on shares of Foghorn Therapeutics in a report on Thursday, May 15th. B. Riley began coverage on shares of Foghorn Therapeutics in a report on Thursday, January 30th. They set a “buy” rating and a $10.00 target price for the company. HC Wainwright raised Foghorn Therapeutics to a “strong-buy” rating in a report on Wednesday, May 14th. Citigroup assumed coverage on Foghorn Therapeutics in a research report on Wednesday, April 23rd. They set an “outperform” rating for the company. Finally, Citizens Jmp started coverage on Foghorn Therapeutics in a report on Wednesday, April 23rd. They issued a “mkt outperform” rating and a $9.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price 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.