Nuveen LLC Invests $221,000 in Foghorn Therapeutics Inc. $FHTX

Key Points

• Nuveen LLC has acquired a 0.11% stake in Foghorn Therapeutics Inc., purchasing 60,438 shares for approximately $221,000.
• Foghorn Therapeutics reported a quarterly earnings per share of ($0.28), surpassing analysts' estimates, with revenue slightly below expectations at $7.56 million.
• Analysts have a consensus "Buy" rating on Foghorn Therapeutics, with an average price target of $10.67, indicating positive sentiment toward the stock's future performance.

Nuveen LLC purchased a new stake in Foghorn Therapeutics Inc. (NASDAQ:FHTX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 60,438 shares of the company's stock, valued at approximately $221,000. Nuveen LLC owned 0.11% of Foghorn Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN grew its position in shares of Foghorn Therapeutics by 33.3% during the fourth quarter. Wells Fargo & Company MN now owns 15,841 shares of the company's stock worth $75,000 after buying an additional 3,958 shares in the last quarter. Barclays PLC raised its stake in shares of Foghorn Therapeutics by 29.3% during the fourth quarter. Barclays PLC now owns 51,609 shares of the company's stock valued at $245,000 after purchasing an additional 11,689 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Foghorn Therapeutics by 12.4% during the fourth quarter. Hsbc Holdings PLC now owns 18,728 shares of the company's stock valued at $88,000 after purchasing an additional 2,061 shares in the last quarter. Northern Trust Corp raised its position in Foghorn Therapeutics by 1.1% in the fourth quarter. Northern Trust Corp now owns 253,671 shares of the company's stock worth $1,197,000 after acquiring an additional 2,873 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in Foghorn Therapeutics in the fourth quarter worth about $61,000. Hedge funds and other institutional investors own 61.55% of the company's stock.

Foghorn Therapeutics Stock Performance

Shares of NASDAQ:FHTX opened at $5.77 on Friday. Foghorn Therapeutics Inc. has a twelve month low of $2.94 and a twelve month high of $10.25. The firm has a market cap of $326.18 million, a PE ratio of -4.85 and a beta of 3.05. The business has a fifty day moving average of $5.37 and a 200-day moving average of $4.63.

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported ($0.28) earnings per share for the quarter, beating analysts' consensus estimates of ($0.31) by $0.03. The business had revenue of $7.56 million during the quarter, compared to analyst estimates of $7.62 million. On average, analysts anticipate that Foghorn Therapeutics Inc. will post -1.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FHTX shares. JMP Securities reissued a "market outperform" rating and issued a $9.00 price target on shares of Foghorn Therapeutics in a research note on Thursday, May 15th. HC Wainwright raised Foghorn Therapeutics to a "strong-buy" rating in a research report on Wednesday, May 14th. Two 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $10.67.

About Foghorn Therapeutics

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.

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