Jacobs Levy Equity Management Inc. Boosts Holdings in Foghorn Therapeutics Inc. (NASDAQ:FHTX)

Jacobs Levy Equity Management Inc. grew its holdings in shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX - Free Report) by 73.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 223,780 shares of the company's stock after acquiring an additional 94,449 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.40% of Foghorn Therapeutics worth $1,056,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FHTX. Cubist Systematic Strategies LLC bought a new stake in Foghorn Therapeutics during the fourth quarter worth about $51,000. China Universal Asset Management Co. Ltd. bought a new stake in Foghorn Therapeutics in the fourth quarter valued at $56,000. BNP Paribas Financial Markets bought a new position in Foghorn Therapeutics in the fourth quarter worth about $61,000. Los Angeles Capital Management LLC purchased a new stake in shares of Foghorn Therapeutics in the fourth quarter worth $75,000. Finally, Wells Fargo & Company MN lifted its stake in shares of Foghorn Therapeutics by 33.3% in 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. 61.55% of the stock is currently owned by institutional investors.

Foghorn Therapeutics Stock Down 1.7%

Shares of FHTX traded down $0.07 during mid-day trading on Tuesday, reaching $4.14. The company had a trading volume of 107,373 shares, compared to its average volume of 141,582. The stock has a market capitalization of $230.77 million, a P/E ratio of -2.16 and a beta of 3.13. Foghorn Therapeutics Inc. has a 52-week low of $2.94 and a 52-week high of $10.25. The stock has a 50 day moving average of $3.97 and a two-hundred day moving average of $5.11.

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) last announced its quarterly 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 firm had revenue of $5.95 million for the quarter, compared to analysts' expectations of $4.96 million. On average, sell-side analysts expect that Foghorn Therapeutics Inc. will post -1.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JMP Securities reissued a "market outperform" rating and set a $9.00 price objective on shares of Foghorn Therapeutics in a report on Thursday, May 15th. HC Wainwright raised Foghorn Therapeutics to a "strong-buy" rating in a research note on Wednesday, May 14th. Citigroup initiated coverage on Foghorn Therapeutics in a research note 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 target for the company. Finally, B. Riley started coverage on Foghorn Therapeutics in a report on Thursday, January 30th. They set a "buy" rating and a $10.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $12.13.

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.