Trexquant Investment LP Sells 26,013 Shares of Foghorn Therapeutics Inc. $FHTX

Trexquant Investment LP lessened its holdings in shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 42.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 35,585 shares of the company’s stock after selling 26,013 shares during the period. Trexquant Investment LP owned 0.06% of Foghorn Therapeutics worth $130,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Bank of America Corp DE lifted its stake in shares of Foghorn Therapeutics by 14.5% during the fourth quarter. Bank of America Corp DE now owns 31,662 shares of the company’s stock valued at $149,000 after acquiring an additional 4,002 shares during the period. D. E. Shaw & Co. Inc. grew its position in shares of Foghorn Therapeutics by 44.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 100,367 shares of the company’s stock valued at $474,000 after purchasing an additional 30,671 shares during the period. BNP Paribas Financial Markets acquired a new position in Foghorn Therapeutics during the 4th quarter worth approximately $61,000. Raymond James Financial Inc. boosted its position in Foghorn Therapeutics by 9.3% during the 1st quarter. Raymond James Financial Inc. now owns 2,218,352 shares of the company’s stock worth $8,097,000 after acquiring an additional 188,969 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Foghorn Therapeutics during the 4th quarter worth approximately $49,000. Institutional investors and hedge funds own 61.55% of the company’s stock.

Foghorn Therapeutics Trading Down 5.2%

Shares of FHTX stock opened at $5.15 on Thursday. The business’s 50-day moving average price is $5.40 and its 200-day moving average price is $4.64. The firm has a market capitalization of $291.13 million, a price-to-earnings ratio of -4.33 and a beta of 3.05. 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 data on Tuesday, August 5th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. The company had revenue of $7.56 million during the quarter, compared to analyst estimates of $7.62 million. On average, sell-side analysts predict that Foghorn Therapeutics Inc. will post -1.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. HC Wainwright upgraded Foghorn Therapeutics to a “strong-buy” rating in a research note on Wednesday, May 14th. JMP Securities restated a “market outperform” rating and issued a $9.00 price target on shares of Foghorn Therapeutics in a research note on Thursday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $10.67.

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.