Barclays PLC Grows Stock Position in Foghorn Therapeutics Inc. (NASDAQ:FHTX)

Barclays PLC lifted its stake in Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 191.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,920 shares of the company’s stock after buying an additional 26,228 shares during the quarter. Barclays PLC owned approximately 0.07% of Foghorn Therapeutics worth $371,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Deerfield Management Company L.P. Series C purchased a new stake in Foghorn Therapeutics in the 2nd quarter worth approximately $14,481,000. Geode Capital Management LLC grew its position in Foghorn Therapeutics by 27.5% during the third quarter. Geode Capital Management LLC now owns 677,386 shares of the company’s stock valued at $6,308,000 after buying an additional 146,276 shares during the period. Driehaus Capital Management LLC increased its holdings in Foghorn Therapeutics by 102.7% in the second quarter. Driehaus Capital Management LLC now owns 568,470 shares of the company’s stock valued at $3,269,000 after buying an additional 288,088 shares in the last quarter. Perceptive Advisors LLC acquired a new position in shares of Foghorn Therapeutics in the second quarter worth about $3,128,000. Finally, State Street Corp boosted its stake in shares of Foghorn Therapeutics by 4.9% during the 3rd quarter. State Street Corp now owns 505,945 shares of the company’s stock worth $4,710,000 after acquiring an additional 23,630 shares in the last quarter. 61.55% of the stock is owned by institutional investors and hedge funds.

Foghorn Therapeutics Price Performance

Shares of NASDAQ:FHTX opened at $4.31 on Friday. Foghorn Therapeutics Inc. has a 1 year low of $2.70 and a 1 year high of $10.25. The firm has a market capitalization of $239.59 million, a PE ratio of -2.24 and a beta of 3.21. The business’s 50 day moving average price is $6.13 and its 200-day moving average price is $7.01.

Analyst Ratings Changes

A number of research firms recently weighed in on FHTX. Morgan Stanley upped their price target on Foghorn Therapeutics from $6.00 to $9.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 24th. HC Wainwright reiterated a “buy” rating and set a $13.00 target price (down previously from $20.00) on shares of Foghorn Therapeutics in a research report on Tuesday, December 17th. Finally, Jefferies Financial Group cut their price target on shares of Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a report on Monday, December 16th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $13.80.

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.