Exchange Traded Concepts LLC Grows Holdings in Foghorn Therapeutics Inc. (NASDAQ:FHTX)

Exchange Traded Concepts LLC increased its position in Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 53.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,693 shares of the company’s stock after purchasing an additional 9,608 shares during the period. Exchange Traded Concepts LLC’s holdings in Foghorn Therapeutics were worth $101,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FHTX. Deerfield Management Company L.P. Series C boosted its holdings in shares of Foghorn Therapeutics by 7.5% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 3,255,514 shares of the company’s stock valued at $15,366,000 after acquiring an additional 227,628 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Foghorn Therapeutics during the fourth quarter valued at approximately $9,579,000. Geode Capital Management LLC lifted its holdings in Foghorn Therapeutics by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 682,863 shares of the company’s stock valued at $3,224,000 after purchasing an additional 5,477 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Foghorn Therapeutics by 58.8% during the fourth quarter. Point72 Asset Management L.P. now owns 634,761 shares of the company’s stock valued at $2,996,000 after purchasing an additional 235,059 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Foghorn Therapeutics by 1.1% during the fourth quarter. Northern Trust Corp now owns 253,671 shares of the company’s stock valued at $1,197,000 after purchasing an additional 2,873 shares in the last quarter. 61.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FHTX has been the topic of several research analyst reports. HC Wainwright raised shares of Foghorn Therapeutics to a “strong-buy” rating in a report on Wednesday, May 14th. Citizens Jmp initiated coverage on shares of Foghorn Therapeutics in a research report on Wednesday, April 23rd. They issued a “mkt outperform” rating and a $9.00 price target on the stock. Citigroup started coverage on shares of Foghorn Therapeutics in a research report on Wednesday, April 23rd. They issued an “outperform” rating on the stock. Finally, JMP Securities reiterated a “market outperform” rating and set a $9.00 price objective on shares of Foghorn Therapeutics in a research report on Thursday, May 15th. One investment 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 stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $12.13.

Foghorn Therapeutics Trading Down 0.4%

NASDAQ FHTX opened at $4.87 on Wednesday. The company’s 50-day moving average price is $4.30 and its 200-day moving average price is $4.46. The stock has a market cap of $271.45 million, a PE ratio of -3.58 and a beta of 3.04. Foghorn Therapeutics Inc. has a 12 month low of $2.94 and a 12 month high of $10.25.

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