Foghorn Therapeutics Inc. (NASDAQ:FHTX) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 27.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 677,386 shares of the company’s stock after buying an additional 146,276 shares during the period. Geode Capital Management LLC owned approximately 1.22% of Foghorn Therapeutics worth $6,308,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FHTX. Deerfield Management Company L.P. Series C acquired a new stake in shares of Foghorn Therapeutics in the 2nd quarter worth $14,481,000. Driehaus Capital Management LLC raised its holdings in Foghorn Therapeutics by 102.7% during the second quarter. Driehaus Capital Management LLC now owns 568,470 shares of the company’s stock worth $3,269,000 after purchasing an additional 288,088 shares in the last quarter. Perceptive Advisors LLC acquired a new stake in Foghorn Therapeutics in the second quarter valued at about $3,128,000. State Street Corp boosted its holdings in Foghorn Therapeutics by 4.9% in the 3rd quarter. State Street Corp now owns 505,945 shares of the company’s stock valued at $4,710,000 after purchasing an additional 23,630 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Foghorn Therapeutics by 30.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 79,433 shares of the company’s stock worth $457,000 after purchasing an additional 18,664 shares during the period. Hedge funds and other institutional investors own 61.55% of the company’s stock.

Foghorn Therapeutics Stock Up 4.6 %

Shares of FHTX stock opened at $4.80 on Friday. Foghorn Therapeutics Inc. has a fifty-two week low of $2.70 and a fifty-two week high of $10.25. The firm’s 50 day moving average price is $6.94 and its two-hundred day moving average price is $7.08. The stock has a market cap of $266.85 million, a price-to-earnings ratio of -2.50 and a beta of 3.10.

Analyst Ratings Changes

Several analysts have recently commented on the company. Jefferies Financial Group reduced their price target on Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a report on Monday, December 16th. Morgan Stanley boosted their target price on shares of Foghorn Therapeutics from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 24th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target (down from $20.00) on shares of Foghorn Therapeutics in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.80.

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.