Foghorn Therapeutics (NASDAQ:FHTX) Stock Price Down 0.5% - What's Next?

Shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX - Get Free Report) fell 0.5% on Monday . The stock traded as low as $6.07 and last traded at $6.10. 68,552 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 143,521 shares. The stock had previously closed at $6.13.

Wall Street Analysts Forecast Growth

FHTX has been the subject of several research reports. HC Wainwright raised Foghorn Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. Citigroup initiated coverage on Foghorn Therapeutics in a report on Wednesday, April 23rd. They set an "outperform" rating for the company. Citizens Jmp initiated coverage on Foghorn Therapeutics in a report on Wednesday, April 23rd. They set a "mkt outperform" rating and a $9.00 price objective for the company. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $9.00 price objective on shares of Foghorn Therapeutics in a report on Thursday, May 15th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $12.13.

Foghorn Therapeutics Price Performance

The stock has a market capitalization of $340.01 million, a P/E ratio of -4.49 and a beta of 3.05. The firm has a 50 day moving average of $4.71 and a 200-day moving average of $4.47.

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.30) earnings per share for the quarter, meeting the consensus estimate of ($0.30). The company had revenue of $5.95 million during the quarter, compared to the consensus estimate of $4.96 million. As a group, equities analysts expect that Foghorn Therapeutics Inc. will post -1.55 earnings per share for the current year.

Institutional Trading of Foghorn Therapeutics

A number of institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in shares of Foghorn Therapeutics by 14.5% in the 4th quarter. Bank of America Corp DE now owns 31,662 shares of the company's stock worth $149,000 after acquiring an additional 4,002 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in Foghorn Therapeutics by 44.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 100,367 shares of the company's stock worth $474,000 after purchasing an additional 30,671 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Foghorn Therapeutics in the 4th quarter worth about $61,000. Lazard Asset Management LLC bought a new stake in Foghorn Therapeutics in the 4th quarter worth about $49,000. Finally, Geode Capital Management LLC grew its position in Foghorn Therapeutics by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 682,863 shares of the company's stock worth $3,224,000 after purchasing an additional 5,477 shares in the last quarter. Institutional investors own 61.55% of the company's stock.

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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