Carlos Costa Sells 35,756 Shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX) Stock

Foghorn Therapeutics Inc. (NASDAQ:FHTX) insider Carlos Costa sold 35,756 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $10.04, for a total transaction of $358,990.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Carlos Costa also recently made the following trade(s):

• On Monday, September 23rd, Carlos Costa sold 857 shares of Foghorn Therapeutics stock. The shares were sold at an average price of $10.17, for a total value of $8,715.69.

Foghorn Therapeutics Trading Up 2.6 %

Shares of FHTX stock traded up $0.24 on Tuesday, reaching $9.56. 144,995 shares of the stock were exchanged, compared to its average volume of 138,699. Foghorn Therapeutics Inc. has a twelve month low of $2.70 and a twelve month high of $10.25. The company has a market capitalization of $407.12 million, a price-to-earnings ratio of -4.22 and a beta of 3.11. The business’s 50 day moving average price is $7.39 and its 200 day moving average price is $6.47.

Foghorn Therapeutics (NASDAQ:FHTX) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.15. The business had revenue of $6.89 million for the quarter, compared to analysts’ expectations of $6.60 million. Equities research analysts forecast that Foghorn Therapeutics Inc. will post -1.88 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Foghorn Therapeutics in a research report on Monday, August 12th. Evercore ISI initiated coverage on shares of Foghorn Therapeutics in a research note on Monday, August 19th. They issued an “outperform” rating and a $20.00 price objective for the company. Morgan Stanley boosted their target price on shares of Foghorn Therapeutics from $6.00 to $9.00 and gave the company an “equal weight” rating in a research note on Tuesday. Wedbush restated an “outperform” rating and set a $13.00 price objective on shares of Foghorn Therapeutics in a report on Thursday, August 8th. Finally, Jefferies Financial Group initiated coverage on shares of Foghorn Therapeutics in a report on Tuesday, September 3rd. They issued a “buy” rating and a $18.00 price target for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Institutional Trading of Foghorn Therapeutics

A number of large investors have recently made changes to their positions in FHTX. Renaissance Technologies LLC purchased a new stake in shares of Foghorn Therapeutics in the second quarter worth about $62,000. The Manufacturers Life Insurance Company acquired a new position in shares of Foghorn Therapeutics in the 2nd quarter valued at about $64,000. State Board of Administration of Florida Retirement System bought a new position in shares of Foghorn Therapeutics during the first quarter valued at approximately $77,000. Alta Wealth Advisors LLC acquired a new stake in Foghorn Therapeutics in the fourth quarter worth $194,000. Finally, Rhumbline Advisers increased its holdings in shares of Foghorn Therapeutics by 34.3% in the 2nd quarter. Rhumbline Advisers now owns 35,910 shares of the company’s stock worth $206,000 after acquiring an additional 9,171 shares during the period. Institutional investors and hedge funds 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.