Foghorn Therapeutics Inc. (NASDAQ:FHTX) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. raised its holdings in shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX - Free Report) by 58.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 634,761 shares of the company's stock after acquiring an additional 235,059 shares during the period. Point72 Asset Management L.P. owned approximately 1.14% of Foghorn Therapeutics worth $2,996,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. China Universal Asset Management Co. Ltd. acquired a new position in shares of Foghorn Therapeutics during the 4th quarter worth approximately $56,000. Wingate Wealth Advisors Inc. purchased a new position in Foghorn Therapeutics during the fourth quarter worth about $134,000. Rhumbline Advisers increased 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 purchasing an additional 3,049 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Foghorn Therapeutics in the 4th quarter valued at $75,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Foghorn Therapeutics during the fourth quarter worth about $9,579,000. 61.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FHTX has been the subject of several research reports. B. Riley started coverage on shares of Foghorn Therapeutics in a research note on Thursday, January 30th. They issued a "buy" rating and a $10.00 price target for the company. Citizens Jmp assumed coverage on Foghorn Therapeutics in a research note on Wednesday, April 23rd. They set a "mkt outperform" rating and a $9.00 target price for the company. JMP Securities restated a "market outperform" rating and set a $9.00 price target on shares of Foghorn Therapeutics in a report on Thursday, May 15th. HC Wainwright upgraded Foghorn Therapeutics to a "strong-buy" rating in a research note on Wednesday, May 14th. Finally, Citigroup initiated coverage on Foghorn Therapeutics in a research report on Wednesday, April 23rd. They set an "outperform" rating for the company. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $12.13.

Foghorn Therapeutics Stock Performance

Foghorn Therapeutics stock remained flat at $4.14 during mid-day trading on Monday. 70,400 shares of the company's stock traded hands, compared to its average volume of 140,908. Foghorn Therapeutics Inc. has a one year low of $2.94 and a one year high of $10.25. The business has a 50-day moving average of $3.94 and a two-hundred day moving average of $4.98. The stock has a market cap of $230.77 million, a PE ratio of -2.16 and a beta of 3.13.

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.30). The business had revenue of $5.95 million for the quarter, compared to analysts' expectations of $4.96 million. As a group, equities analysts expect that Foghorn Therapeutics Inc. will post -1.55 EPS 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.