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

Raymond James Financial Inc. bought a new position in shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX) in the fourth quarter, Holdings Channel reports. The institutional investor bought 2,029,383 shares of the company’s stock, valued at approximately $9,579,000.

A number of other hedge funds have also made changes to their positions in the company. Rhumbline Advisers increased its position in shares of Foghorn Therapeutics by 9.1% during the 4th quarter. Rhumbline Advisers now owns 36,384 shares of the company’s stock worth $172,000 after purchasing an additional 3,049 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Foghorn Therapeutics by 10.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 75,495 shares of the company’s stock worth $703,000 after purchasing an additional 7,000 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Foghorn Therapeutics by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 15,898 shares of the company’s stock worth $148,000 after purchasing an additional 8,958 shares in the last quarter. Zacks Investment Management acquired a new stake in shares of Foghorn Therapeutics during the 3rd quarter worth about $96,000. Finally, XTX Topco Ltd bought a new stake in Foghorn Therapeutics during the 3rd quarter worth about $101,000. Institutional investors and hedge funds own 61.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on FHTX. B. Riley began coverage on shares of Foghorn Therapeutics in a report on Thursday, January 30th. They set a “buy” rating and a $10.00 price objective on the stock. Jefferies Financial Group decreased their price objective on shares of Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Finally, HC Wainwright reissued a “buy” rating and set a $13.00 price objective on shares of Foghorn Therapeutics in a report on Friday, March 7th. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $13.17.

Foghorn Therapeutics Trading Down 1.7 %

Shares of NASDAQ FHTX opened at $4.05 on Friday. The firm has a market capitalization of $225.23 million, a PE ratio of -2.11 and a beta of 3.13. Foghorn Therapeutics Inc. has a 1 year low of $3.86 and a 1 year high of $10.25. The firm’s 50-day moving average is $4.66 and its 200-day moving average is $6.48.

Foghorn Therapeutics (NASDAQ:FHTX) last issued its earnings results on Thursday, March 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating 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. As a group, equities research analysts anticipate that Foghorn Therapeutics Inc. will post -1.55 earnings per share for the current fiscal year.

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.