Rhumbline Advisers Purchases 3,049 Shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX)

Rhumbline Advisers raised its stake in Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 9.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,384 shares of the company’s stock after buying an additional 3,049 shares during the period. Rhumbline Advisers owned about 0.07% of Foghorn Therapeutics worth $172,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in FHTX. Geode Capital Management LLC increased its holdings in shares of Foghorn Therapeutics by 27.5% in the 3rd quarter. Geode Capital Management LLC now owns 677,386 shares of the company’s stock worth $6,308,000 after buying an additional 146,276 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new position in shares of Foghorn Therapeutics in the 4th quarter worth $134,000. Wellington Management Group LLP boosted its stake in shares of Foghorn Therapeutics by 64.9% in the 3rd quarter. Wellington Management Group LLP now owns 72,216 shares of the company’s stock valued at $672,000 after purchasing an additional 28,427 shares in the last quarter. Walleye Capital LLC boosted its stake in shares of Foghorn Therapeutics by 162.0% in the 3rd quarter. Walleye Capital LLC now owns 44,927 shares of the company’s stock valued at $418,000 after purchasing an additional 27,782 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Foghorn Therapeutics by 191.6% in the 3rd quarter. Barclays PLC now owns 39,920 shares of the company’s stock valued at $371,000 after purchasing an additional 26,228 shares in the last quarter. Institutional investors own 61.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FHTX. Jefferies Financial Group cut their price objective on shares of Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, December 16th. HC Wainwright reissued a “buy” rating and set a $13.00 price target on shares of Foghorn Therapeutics in a research report on Friday. Finally, B. Riley began 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 for the company. One 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. Based on data from MarketBeat.com, Foghorn Therapeutics currently has an average rating of “Buy” and an average price target of $13.17.

Foghorn Therapeutics Trading Down 2.7 %

Shares of NASDAQ FHTX opened at $4.40 on Tuesday. Foghorn Therapeutics Inc. has a 12 month low of $3.86 and a 12 month high of $10.25. The firm has a market capitalization of $244.69 million, a PE ratio of -2.29 and a beta of 3.13. The firm has a fifty day simple moving average of $4.71 and a two-hundred day simple moving average of $6.68.

Foghorn Therapeutics (NASDAQ:FHTX) last issued its earnings results on Thursday, March 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.13. The firm had revenue of $2.86 million during the quarter, compared to analysts’ expectations of $8.56 million. On average, sell-side analysts predict that Foghorn Therapeutics Inc. will post -1.55 earnings per share for the current year.

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.