2,029,383 Shares in Foghorn Therapeutics Inc. (NASDAQ:FHTX) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in Foghorn Therapeutics Inc. (NASDAQ:FHTX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,029,383 shares of the company’s stock, valued at approximately $9,579,000. Raymond James Financial Inc. owned about 3.65% of Foghorn Therapeutics at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in shares of Foghorn Therapeutics by 27.5% during the third quarter. Geode Capital Management LLC now owns 677,386 shares of the company’s stock worth $6,308,000 after acquiring an additional 146,276 shares during the period. State Street Corp raised its stake in Foghorn Therapeutics by 4.9% during the third quarter. State Street Corp now owns 505,945 shares of the company’s stock worth $4,710,000 after purchasing an additional 23,630 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Foghorn Therapeutics by 10.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 75,495 shares of the company’s stock valued at $703,000 after purchasing an additional 7,000 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Foghorn Therapeutics by 64.9% during the 3rd quarter. Wellington Management Group LLP now owns 72,216 shares of the company’s stock valued at $672,000 after acquiring an additional 28,427 shares in the last quarter. Finally, Walleye Capital LLC lifted its holdings in shares of Foghorn Therapeutics by 162.0% during the 3rd quarter. Walleye Capital LLC now owns 44,927 shares of the company’s stock valued at $418,000 after acquiring an additional 27,782 shares in the last quarter. 61.55% of the stock is owned by hedge funds and other institutional investors.

Foghorn Therapeutics Stock Performance

Foghorn Therapeutics stock opened at $4.05 on Friday. The firm has a market cap of $225.23 million, a PE ratio of -2.11 and a beta of 3.13. The firm’s 50 day moving average price is $4.66 and its two-hundred day moving average price is $6.48. Foghorn Therapeutics Inc. has a twelve month low of $3.86 and a twelve month high of $10.25.

Foghorn Therapeutics (NASDAQ:FHTX) last posted its earnings results on Thursday, March 6th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.13. The business had revenue of $2.86 million during the quarter, compared to the consensus estimate of $8.56 million. Equities analysts anticipate that Foghorn Therapeutics Inc. will post -1.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target on shares of Foghorn Therapeutics in a research note on Friday, March 7th. Jefferies Financial Group reduced their price target 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. Finally, B. Riley started coverage on shares of Foghorn Therapeutics in a research note on Thursday, January 30th. They issued a “buy” rating and a $10.00 price target for the company. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $13.17.

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.