DAFNA Capital Management LLC Purchases 149,053 Shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX)

DAFNA Capital Management LLC lifted its position in Foghorn Therapeutics Inc. (NASDAQ:FHTX - Free Report) by 395.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 186,717 shares of the company's stock after buying an additional 149,053 shares during the quarter. DAFNA Capital Management LLC owned approximately 0.34% of Foghorn Therapeutics worth $881,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FHTX. Raymond James Financial Inc. purchased a new stake in Foghorn Therapeutics in the fourth quarter valued at approximately $9,579,000. Deerfield Management Company L.P. Series C raised its stake in Foghorn Therapeutics by 7.5% in the fourth 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 purchasing an additional 227,628 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Foghorn Therapeutics by 415.5% in the fourth 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 in the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in Foghorn Therapeutics in the fourth quarter valued at approximately $134,000. Finally, Barclays PLC raised its stake in Foghorn Therapeutics by 191.6% in the third quarter. Barclays PLC now owns 39,920 shares of the company's stock valued at $371,000 after purchasing an additional 26,228 shares in the last quarter. 61.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FHTX has been the topic of a number of recent research reports. JMP Securities reiterated a "market outperform" rating and set a $9.00 price target on shares of Foghorn Therapeutics in a research report on Wednesday, April 30th. Citigroup initiated coverage on shares of Foghorn Therapeutics in a research report on Wednesday, April 23rd. They set an "outperform" rating on the stock. B. Riley began coverage on shares of Foghorn Therapeutics in a research report on Thursday, January 30th. They set a "buy" rating and a $10.00 price target on the stock. Citizens Jmp began coverage on shares of Foghorn Therapeutics in a report on Wednesday, April 23rd. They issued a "mkt outperform" rating and a $9.00 target price on the stock. Finally, HC Wainwright restated a "buy" rating and issued a $13.00 target price on shares of Foghorn Therapeutics in a report on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $12.13.

Foghorn Therapeutics Stock Performance

Shares of FHTX traded down $0.10 during trading hours on Tuesday, hitting $4.33. The company had a trading volume of 31,828 shares, compared to its average volume of 140,616. The firm has a fifty day moving average price of $3.99 and a 200-day moving average price of $5.24. The stock has a market capitalization of $241.27 million, a price-to-earnings ratio of -2.26 and a beta of 3.13. Foghorn Therapeutics Inc. has a 52-week low of $2.94 and a 52-week high of $10.25.

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) last issued its earnings results on Thursday, March 6th. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.43) by $0.13. The business had revenue of $2.86 million during the quarter, compared to analysts' expectations of $8.56 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.