Candriam S.C.A. purchased a new position in Foghorn Therapeutics Inc. (NASDAQ:FHTX - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 313,765 shares of the company's stock, valued at approximately $1,500,000. Candriam S.C.A. owned about 0.53% of Foghorn Therapeutics as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Persistent Asset Partners Ltd increased its stake in shares of Foghorn Therapeutics by 311.7% in the 4th quarter. Persistent Asset Partners Ltd now owns 47,108 shares of the company's stock valued at $254,000 after acquiring an additional 35,667 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Foghorn Therapeutics by 58.4% in the 4th quarter. Wells Fargo & Company MN now owns 38,755 shares of the company's stock valued at $209,000 after acquiring an additional 14,281 shares during the period. Deutsche Bank AG raised its position in shares of Foghorn Therapeutics by 7.3% in the 4th quarter. Deutsche Bank AG now owns 27,421 shares of the company's stock valued at $148,000 after acquiring an additional 1,861 shares during the period. Jane Street Group LLC bought a new position in Foghorn Therapeutics during the 2nd quarter worth approximately $102,000. Finally, XTX Topco Ltd bought a new position in Foghorn Therapeutics during the 4th quarter worth approximately $85,000. 61.55% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
FHTX has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Foghorn Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Foghorn Therapeutics in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $11.43.
Check Out Our Latest Stock Report on FHTX
Foghorn Therapeutics Price Performance
NASDAQ:FHTX opened at $5.38 on Wednesday. Foghorn Therapeutics Inc. has a fifty-two week low of $3.27 and a fifty-two week high of $6.95. The stock has a market capitalization of $315.86 million, a PE ratio of -4.64 and a beta of 2.86. The business's 50-day simple moving average is $4.40 and its 200-day simple moving average is $5.02.
Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.01). The business had revenue of $3.27 million for the quarter, compared to analysts' expectations of $7.94 million. On average, research analysts expect that Foghorn Therapeutics Inc. will post -0.98 earnings per share for the current year.
Foghorn Therapeutics Company Profile
(
Free Report)
Foghorn Therapeutics is a clinical-stage biotechnology company focused on the discovery and development of novel epigenetic therapies for cancer. The company leverages its proprietary Targeted Protein Discovery Platform to identify and design small-molecule inhibitors that modulate chromatin regulatory proteins involved in tumor growth and survival. By targeting the mechanisms that control gene expression, Foghorn seeks to address unmet needs in oncology through precision medicine.
The company's lead candidate, FHD-286, is a selective inhibitor of variant SWI/SNF chromatin remodeling complexes and is currently being evaluated in Phase 1 clinical trials for patients with solid tumors harboring specific SMARCA2 and SMARCA4 alterations.
Further Reading
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