Barclays PLC Acquires 26,228 Shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX)

Barclays PLC boosted its holdings in shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 191.6% in the third quarter, HoldingsChannel reports. The firm owned 39,920 shares of the company’s stock after acquiring an additional 26,228 shares during the period. Barclays PLC’s holdings in Foghorn Therapeutics were worth $371,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. XTX Topco Ltd bought a new stake in shares of Foghorn Therapeutics during the third quarter worth $101,000. Zacks Investment Management acquired a new position in Foghorn Therapeutics during the 3rd quarter worth about $96,000. Wellington Management Group LLP lifted its position in Foghorn Therapeutics by 64.9% during the 3rd quarter. Wellington Management Group LLP now owns 72,216 shares of the company’s stock worth $672,000 after buying an additional 28,427 shares in the last quarter. State Street Corp grew its holdings in 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 during the last quarter. Finally, Walleye Capital LLC increased its position in 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 acquiring an additional 27,782 shares in the last quarter. Institutional investors own 61.55% of the company’s stock.

Foghorn Therapeutics Price Performance

Shares of NASDAQ FHTX opened at $4.80 on Friday. The company’s 50 day simple moving average is $6.94 and its 200 day simple moving average is $7.08. Foghorn Therapeutics Inc. has a fifty-two week low of $2.70 and a fifty-two week high of $10.25. The firm has a market capitalization of $266.85 million, a P/E ratio of -2.50 and a beta of 3.10.

Wall Street Analyst Weigh In

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

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.