Foghorn Therapeutics (NASDAQ:FHTX) Trading Up 1%

Foghorn Therapeutics Inc. (NASDAQ:FHTXGet Rating) was up 1% during trading on Tuesday . The company traded as high as $16.79 and last traded at $16.49. Approximately 118,628 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 143,235 shares. The stock had previously closed at $16.33.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FHTX shares. HC Wainwright lowered their price target on Foghorn Therapeutics from $25.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, May 20th. The Goldman Sachs Group lowered their price target on Foghorn Therapeutics from $30.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, May 24th. Finally, Morgan Stanley decreased their price objective on Foghorn Therapeutics from $26.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, May 23rd.

Foghorn Therapeutics Trading Up 1.0 %

The stock has a market cap of $683.81 million, a P/E ratio of -5.97 and a beta of 2.24. The company has a 50-day moving average price of $14.13 and a two-hundred day moving average price of $13.15.

Foghorn Therapeutics (NASDAQ:FHTXGet Rating) last released its earnings results on Monday, May 9th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.25). The company had revenue of $3.92 million for the quarter, compared to the consensus estimate of $14.40 million. Foghorn Therapeutics had a negative net margin of 2,124.94% and a negative return on equity of 118.78%. As a group, equities analysts forecast that Foghorn Therapeutics Inc. will post -2.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Foghorn Therapeutics

Several large investors have recently modified their holdings of FHTX. Charles Schwab Investment Management Inc. grew its position in Foghorn Therapeutics by 2.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 51,870 shares of the company’s stock valued at $790,000 after acquiring an additional 1,059 shares during the last quarter. WASHINGTON TRUST Co bought a new position in Foghorn Therapeutics in the 4th quarter valued at $34,000. JPMorgan Chase & Co. grew its position in Foghorn Therapeutics by 22.2% in the 1st quarter. JPMorgan Chase & Co. now owns 9,174 shares of the company’s stock valued at $140,000 after acquiring an additional 1,664 shares during the last quarter. Amalgamated Bank bought a new position in Foghorn Therapeutics in the 1st quarter valued at $38,000. Finally, Rhumbline Advisers grew its position in Foghorn Therapeutics by 16.6% in the 1st quarter. Rhumbline Advisers now owns 22,676 shares of the company’s stock valued at $345,000 after acquiring an additional 3,223 shares during the last quarter. Institutional investors own 66.92% of the company’s stock.

Foghorn Therapeutics Company Profile

(Get Rating)

Foghorn Therapeutics Inc, a clinical-stage biopharmaceutical company, discovers and develops medicines targeting genetically determined dependencies within the chromatin regulatory system. The company uses its proprietary Gene Traffic Control platform to identify, validate, and potentially drug targets within the system.

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