Raymond James Financial Inc. Has $8.10 Million Stake in Foghorn Therapeutics Inc. $FHTX

Key Points

• Raymond James Financial Inc. increased its stake in Foghorn Therapeutics Inc. by 9.3% in Q1, now owning 2,218,352 shares worth approximately $8.1 million.
• Foghorn Therapeutics reported a quarterly EPS of ($0.28), exceeding analyst expectations of ($0.31), with revenue of $7.56 million.
• Analyst ratings show a consensus of "Buy" for Foghorn Therapeutics, with a target price of $10.67, supported by a strong-buy rating from HC Wainwright.

Raymond James Financial Inc. grew its holdings in Foghorn Therapeutics Inc. (NASDAQ:FHTX - Free Report) by 9.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,218,352 shares of the company's stock after buying an additional 188,969 shares during the period. Raymond James Financial Inc. owned 3.98% of Foghorn Therapeutics worth $8,097,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bank of America Corp DE lifted its position in shares of Foghorn Therapeutics by 14.5% in the fourth quarter. Bank of America Corp DE now owns 31,662 shares of the company's stock valued at $149,000 after buying an additional 4,002 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Foghorn Therapeutics by 44.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 100,367 shares of the company's stock valued at $474,000 after buying an additional 30,671 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Foghorn Therapeutics in the fourth quarter valued at approximately $61,000. Lazard Asset Management LLC acquired a new stake in shares of Foghorn Therapeutics in the fourth quarter valued at approximately $49,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of Foghorn Therapeutics by 53.1% in the first quarter. Exchange Traded Concepts LLC now owns 27,693 shares of the company's stock valued at $101,000 after buying an additional 9,608 shares during the last quarter. 61.55% of the stock is owned by institutional investors and hedge funds.

Foghorn Therapeutics Trading Up 1.0%

NASDAQ:FHTX opened at $5.06 on Tuesday. The stock has a 50 day simple moving average of $5.32 and a 200 day simple moving average of $4.64. Foghorn Therapeutics Inc. has a 1-year low of $2.94 and a 1-year high of $10.25. The stock has a market cap of $286.04 million, a P/E ratio of -4.25 and a beta of 3.05.

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) 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 for the quarter, compared to the consensus estimate of $7.62 million. As a group, sell-side analysts forecast that Foghorn Therapeutics Inc. will post -1.55 EPS for the current year.

Wall Street Analyst Weigh In

FHTX has been the subject of a number of recent analyst reports. HC Wainwright raised Foghorn Therapeutics to a "strong-buy" rating in a research report on Wednesday, May 14th. JMP Securities reissued a "market outperform" rating and set a $9.00 price target on shares of Foghorn Therapeutics in a report on Thursday, May 15th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price 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.

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