Foghorn Therapeutics Inc. (NASDAQ:FHTX) Insider Sells $358,990.24 in Stock

Foghorn Therapeutics Inc. (NASDAQ:FHTX) insider Carlos Costa sold 35,756 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $10.04, for a total value of $358,990.24. The sale was disclosed in a filing with the SEC, which is available through this link.

Carlos Costa also recently made the following trade(s):

• On Monday, September 23rd, Carlos Costa sold 857 shares of Foghorn Therapeutics stock. The shares were sold at an average price of $10.17, for a total value of $8,715.69.

Foghorn Therapeutics Stock Performance

Foghorn Therapeutics stock traded up $0.24 during midday trading on Tuesday, hitting $9.56. 144,995 shares of the company’s stock were exchanged, compared to its average volume of 138,699. The company has a market cap of $407.12 million, a PE ratio of -4.22 and a beta of 3.11. The firm has a 50-day moving average of $7.39 and a two-hundred day moving average of $6.47. Foghorn Therapeutics Inc. has a 12 month low of $2.70 and a 12 month high of $10.25.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wedbush reaffirmed an “outperform” rating and set a $13.00 target price on shares of Foghorn Therapeutics in a research note on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of Foghorn Therapeutics in a research note on Monday, August 12th. Morgan Stanley boosted their target price on shares of Foghorn Therapeutics from $6.00 to $9.00 and gave the company an “equal weight” rating in a research note on Tuesday. Evercore ISI assumed coverage on shares of Foghorn Therapeutics in a research note on Monday, August 19th. They issued an “outperform” rating and a $20.00 price target on the stock. Finally, Jefferies Financial Group began coverage on shares of Foghorn Therapeutics in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Alta Wealth Advisors LLC acquired a new position in shares of Foghorn Therapeutics during the fourth quarter worth $194,000. Birchview Capital LP boosted its stake in Foghorn Therapeutics by 21.2% in the 4th quarter. Birchview Capital LP now owns 320,930 shares of the company’s stock worth $2,070,000 after purchasing an additional 56,087 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in Foghorn Therapeutics during the 1st quarter worth approximately $77,000. Vanguard Group Inc. raised its position in Foghorn Therapeutics by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 1,102,493 shares of the company’s stock worth $7,398,000 after buying an additional 77,380 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Foghorn Therapeutics in the first quarter worth about $283,000. 61.55% of the stock is owned by institutional investors.

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.