Jacobs Levy Equity Management Inc. Acquires 94,449 Shares of 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% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 223,780 shares of the company's stock after purchasing an additional 94,449 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.40% of Foghorn Therapeutics worth $1,056,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FHTX. Barclays PLC grew its position in shares of Foghorn Therapeutics by 191.6% during the 3rd quarter. Barclays PLC now owns 39,920 shares of the company's stock worth $371,000 after purchasing an additional 26,228 shares in the last quarter. 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. acquired a new position in shares of Foghorn Therapeutics during the 4th quarter worth approximately $134,000. Rhumbline Advisers grew its position in shares of Foghorn Therapeutics by 9.1% during the 4th quarter. Rhumbline Advisers now owns 36,384 shares of the company's stock worth $172,000 after purchasing an additional 3,049 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Foghorn Therapeutics during the 4th quarter worth approximately $75,000. Institutional investors and hedge funds own 61.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FHTX shares. Citizens Jmp initiated coverage on shares of Foghorn Therapeutics in a research report on Wednesday, April 23rd. They set a "mkt outperform" rating and a $9.00 target price on the stock. B. Riley initiated coverage on shares of Foghorn Therapeutics in a research report on Thursday, January 30th. They set a "buy" rating and a $10.00 price target on the stock. Citigroup initiated coverage on shares of Foghorn Therapeutics in a research report on Wednesday, April 23rd. They set an "outperform" rating on the stock. HC Wainwright upgraded shares of Foghorn Therapeutics to a "strong-buy" rating in a research report on Wednesday, May 14th. Finally, JMP Securities reiterated a "market outperform" rating and set a $9.00 price target on shares of Foghorn Therapeutics in a research report on Thursday, May 15th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Foghorn Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $12.13.

Foghorn Therapeutics Trading Up 3.1%

NASDAQ:FHTX traded up $0.13 on Thursday, hitting $4.19. The company had a trading volume of 18,024 shares, compared to its average volume of 141,185. The stock has a market capitalization of $233.28 million, a price-to-earnings ratio of -2.18 and a beta of 3.13. The firm has a 50 day moving average of $3.95 and a two-hundred day moving average of $5.10. Foghorn Therapeutics Inc. has a 52 week low of $2.94 and a 52 week high of $10.25.

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.30) EPS 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 forecast that Foghorn Therapeutics Inc. will post -1.55 EPS for the current year.

Foghorn Therapeutics 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.