106,980 Shares in Foghorn Therapeutics Inc. $FHTX Bought by SCS Capital Management LLC

SCS Capital Management LLC purchased a new stake in Foghorn Therapeutics Inc. (NASDAQ:FHTX) in the second quarter, HoldingsChannel reports. The institutional investor purchased 106,980 shares of the company’s stock, valued at approximately $522,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FHTX. Brummer Multi Strategy AB acquired a new position in Foghorn Therapeutics in the fourth quarter valued at $25,000. Russell Investments Group Ltd. increased its position in shares of Foghorn Therapeutics by 13,755.0% during the third quarter. Russell Investments Group Ltd. now owns 5,542 shares of the company’s stock worth $27,000 after purchasing an additional 5,502 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Foghorn Therapeutics by 48.0% during the third quarter. BNP Paribas Financial Markets now owns 7,103 shares of the company’s stock worth $35,000 after purchasing an additional 2,305 shares in the last quarter. Strs Ohio lifted its holdings in shares of Foghorn Therapeutics by 120.5% in the 4th quarter. Strs Ohio now owns 8,600 shares of the company’s stock valued at $46,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Foghorn Therapeutics by 136.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,213 shares of the company’s stock valued at $43,000 after purchasing an additional 5,323 shares during the last quarter. 61.55% of the stock is owned by hedge funds and other institutional investors.

Foghorn Therapeutics Price Performance

Shares of FHTX stock opened at $6.26 on Monday. The stock’s 50-day moving average price is $5.00 and its 200 day moving average price is $4.98. The stock has a market capitalization of $371.72 million, a PE ratio of -6.39 and a beta of 2.89. Foghorn Therapeutics Inc. has a 52-week low of $3.27 and a 52-week high of $6.95.

Foghorn Therapeutics (NASDAQ:FHTX) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.14. The company had revenue of $16.10 million for the quarter, compared to analyst estimates of $6.80 million. Analysts expect that Foghorn Therapeutics Inc. will post -0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wall Street Zen raised Foghorn Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Foghorn Therapeutics in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.43.

About Foghorn Therapeutics

Foghorn Therapeutics is a clinical-stage biotechnology company focused on the discovery and development of novel epigenetic therapies for cancer. The company leverages its proprietary Targeted Protein Discovery Platform to identify and design small-molecule inhibitors that modulate chromatin regulatory proteins involved in tumor growth and survival. By targeting the mechanisms that control gene expression, Foghorn seeks to address unmet needs in oncology through precision medicine.

The company’s lead candidate, FHD-286, is a selective inhibitor of variant SWI/SNF chromatin remodeling complexes and is currently being evaluated in Phase 1 clinical trials for patients with solid tumors harboring specific SMARCA2 and SMARCA4 alterations.