Foghorn Therapeutics (NASDAQ:FHTX) Upgraded at B. Riley

B. Riley upgraded shares of Foghorn Therapeutics (NASDAQ:FHTX) to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports.

FHTX has been the subject of several other research reports. Jefferies Financial Group dropped their price objective on Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a report on Monday, December 16th. HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective (down previously from $20.00) on shares of Foghorn Therapeutics in a report on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $13.17.

Foghorn Therapeutics Price Performance

Shares of FHTX stock opened at $4.19 on Wednesday. Foghorn Therapeutics has a 1-year low of $2.70 and a 1-year high of $10.25. The business has a 50-day moving average of $5.32 and a 200 day moving average of $6.92. The stock has a market capitalization of $233.01 million, a PE ratio of -2.18 and a beta of 3.21.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. bought a new position in Foghorn Therapeutics during the 4th quarter valued at approximately $56,000. Renaissance Technologies LLC bought a new stake in shares of Foghorn Therapeutics in the 2nd quarter worth $62,000. The Manufacturers Life Insurance Company bought a new stake in shares of Foghorn Therapeutics in the 2nd quarter worth $64,000. Zacks Investment Management bought a new stake in shares of Foghorn Therapeutics in the 3rd quarter worth $96,000. Finally, SG Americas Securities LLC bought a new stake in shares of Foghorn Therapeutics in the 3rd quarter worth $99,000. Hedge funds and other institutional investors own 61.55% of the company’s stock.

About Foghorn Therapeutics

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.