Foghorn Therapeutics Inc. (NASDAQ:FHTX) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lowered its stake in Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 45.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,547 shares of the company’s stock after selling 15,580 shares during the period. Jane Street Group LLC’s holdings in Foghorn Therapeutics were worth $173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of FHTX. Wellington Management Group LLP increased its holdings 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 acquiring an additional 28,427 shares during the last quarter. State Street Corp grew its stake in shares of 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 during the last quarter. Walleye Capital LLC lifted its holdings 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 buying an additional 27,782 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Foghorn Therapeutics by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 15,898 shares of the company’s stock valued at $148,000 after buying an additional 8,958 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted 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 buying an additional 7,000 shares during the period. Institutional investors and hedge funds own 61.55% of the company’s stock.

Foghorn Therapeutics Price Performance

Shares of NASDAQ:FHTX opened at $4.37 on Tuesday. The firm has a market capitalization of $242.94 million, a PE ratio of -2.28 and a beta of 3.21. The business has a 50-day moving average of $6.52 and a two-hundred day moving average of $7.07. Foghorn Therapeutics Inc. has a 12 month low of $2.70 and a 12 month high of $10.25.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FHTX shares. Jefferies Financial Group reduced 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. Morgan Stanley lifted their price objective on Foghorn Therapeutics from $6.00 to $9.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 24th. Finally, HC Wainwright reiterated a “buy” rating and set a $13.00 target price (down from $20.00) on shares of Foghorn Therapeutics in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company 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.