Bank of America Corp DE Has $149,000 Stock Position in Foghorn Therapeutics Inc. (NASDAQ:FHTX)

Bank of America Corp DE raised its position in Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 14.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,662 shares of the company’s stock after acquiring an additional 4,002 shares during the period. Bank of America Corp DE owned about 0.06% of Foghorn Therapeutics worth $149,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in FHTX. Rhumbline Advisers raised its holdings in Foghorn Therapeutics by 9.1% in the 4th quarter. Rhumbline Advisers now owns 36,384 shares of the company’s stock valued at $172,000 after acquiring an additional 3,049 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Foghorn Therapeutics in the 4th quarter valued at approximately $75,000. Raymond James Financial Inc. bought a new stake in shares of Foghorn Therapeutics in the 4th quarter valued at approximately $9,579,000. JPMorgan Chase & Co. grew its stake in shares of Foghorn Therapeutics by 415.5% in the 4th quarter. JPMorgan Chase & Co. now owns 56,531 shares of the company’s stock valued at $267,000 after purchasing an additional 45,565 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Foghorn Therapeutics by 20.6% in the 4th quarter. Wellington Management Group LLP now owns 87,069 shares of the company’s stock valued at $411,000 after purchasing an additional 14,853 shares during the period. Institutional investors and hedge funds own 61.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Citizens Jmp assumed coverage on Foghorn Therapeutics in a research note on Wednesday, April 23rd. They issued a “mkt outperform” rating and a $9.00 price objective on the stock. HC Wainwright upgraded Foghorn Therapeutics to a “strong-buy” rating in a research report on Wednesday, May 14th. Citigroup started coverage on Foghorn Therapeutics in a research report on Wednesday, April 23rd. They set an “outperform” rating on the stock. Finally, JMP Securities reiterated a “market outperform” rating and issued a $9.00 price objective on shares of Foghorn Therapeutics in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $12.13.

Foghorn Therapeutics Stock Up 1.6%

FHTX stock opened at $4.39 on Tuesday. The business’s fifty day moving average is $4.14 and its 200-day moving average is $4.55. The company has a market cap of $244.70 million, a P/E ratio of -2.29 and a beta of 3.04. Foghorn Therapeutics Inc. has a twelve month low of $2.94 and a twelve month high of $10.25.

Foghorn Therapeutics (NASDAQ:FHTX) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $4.96 million. Research analysts anticipate that Foghorn Therapeutics Inc. will post -1.55 earnings per share for the current fiscal year.

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.