Driehaus Capital Management LLC Grows Stock Holdings in Foghorn Therapeutics Inc. (NASDAQ:FHTX)

Driehaus Capital Management LLC boosted its holdings in Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 102.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 568,470 shares of the company’s stock after buying an additional 288,088 shares during the period. Driehaus Capital Management LLC’s holdings in Foghorn Therapeutics were worth $3,269,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Renaissance Technologies LLC purchased a new stake in shares of Foghorn Therapeutics during the second quarter worth about $62,000. The Manufacturers Life Insurance Company bought a new position in Foghorn Therapeutics in the 2nd quarter worth approximately $64,000. State Board of Administration of Florida Retirement System purchased a new stake in Foghorn Therapeutics during the 1st quarter valued at approximately $77,000. Rhumbline Advisers grew its holdings in Foghorn Therapeutics by 34.3% during the 2nd quarter. Rhumbline Advisers now owns 35,910 shares of the company’s stock valued at $206,000 after buying an additional 9,171 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Foghorn Therapeutics during the first quarter valued at approximately $283,000. 61.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FHTX has been the subject of a number of research reports. Wedbush restated an “outperform” rating and set a $13.00 target price on shares of Foghorn Therapeutics in a research report on Thursday, August 8th. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Foghorn Therapeutics in a research report on Monday, August 12th. Evercore ISI initiated coverage on Foghorn Therapeutics in a research report on Monday, August 19th. They issued an “outperform” rating and a $20.00 target price on the stock. Jefferies Financial Group initiated coverage on Foghorn Therapeutics in a report on Tuesday, September 3rd. They set a “buy” rating and a $18.00 price target for the company. Finally, Morgan Stanley upped their price objective on Foghorn Therapeutics from $6.00 to $9.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Insider Buying and Selling

In other Foghorn Therapeutics news, insider Carlos Costa sold 35,756 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $10.04, for a total transaction of $358,990.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.07% of the stock is owned by corporate insiders.

Foghorn Therapeutics Trading Down 3.3 %

Shares of NASDAQ:FHTX opened at $9.36 on Monday. The company has a market cap of $398.60 million, a price-to-earnings ratio of -4.25 and a beta of 3.11. Foghorn Therapeutics Inc. has a 12 month low of $2.70 and a 12 month high of $10.25. The company has a 50-day moving average price of $7.64 and a 200 day moving average price of $6.54.

Foghorn Therapeutics (NASDAQ:FHTX) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.15. The company had revenue of $6.89 million during the quarter, compared to the consensus estimate of $6.60 million. As a group, equities analysts forecast that Foghorn Therapeutics Inc. will post -1.88 EPS 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.