SG Americas Securities LLC Invests $552,000 in Forma Therapeutics Holdings, Inc. (NASDAQ:FMTX)

SG Americas Securities LLC acquired a new position in shares of Forma Therapeutics Holdings, Inc. (NASDAQ:FMTX) during the 3rd quarter, Holdings Channel reports. The fund acquired 23,822 shares of the company’s stock, valued at approximately $552,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Forma Therapeutics during the 2nd quarter worth approximately $227,000. Virtus ETF Advisers LLC raised its holdings in shares of Forma Therapeutics by 46.9% during the 2nd quarter. Virtus ETF Advisers LLC now owns 9,220 shares of the company’s stock worth $229,000 after acquiring an additional 2,944 shares in the last quarter. Metropolitan Life Insurance Co NY raised its holdings in shares of Forma Therapeutics by 102,055.6% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 9,194 shares of the company’s stock worth $229,000 after acquiring an additional 9,185 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Forma Therapeutics during the 3rd quarter worth approximately $239,000. Finally, Principal Financial Group Inc. raised its holdings in shares of Forma Therapeutics by 13.1% during the 2nd quarter. Principal Financial Group Inc. now owns 10,330 shares of the company’s stock worth $257,000 after acquiring an additional 1,194 shares in the last quarter. 83.18% of the stock is currently owned by institutional investors and hedge funds.

FMTX stock opened at $11.75 on Friday. The business’s fifty day simple moving average is $15.18 and its two-hundred day simple moving average is $19.99. Forma Therapeutics Holdings, Inc. has a twelve month low of $11.08 and a twelve month high of $42.88. The firm has a market cap of $557.01 million, a price-to-earnings ratio of -3.59 and a beta of -0.27.

Forma Therapeutics (NASDAQ:FMTX) last released its earnings results on Friday, November 12th. The company reported ($0.91) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.05. During the same period in the previous year, the business posted ($0.67) earnings per share. As a group, equities research analysts forecast that Forma Therapeutics Holdings, Inc. will post -3.36 earnings per share for the current fiscal year.

Several analysts have recently issued reports on the company. SVB Leerink restated a “buy” rating and set a $54.00 price target on shares of Forma Therapeutics in a report on Monday, November 15th. Cantor Fitzgerald restated an “overweight” rating on shares of Forma Therapeutics in a report on Monday, October 18th. Finally, Zacks Investment Research upgraded Forma Therapeutics from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Monday, January 3rd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $48.20.

About Forma Therapeutics

Forma Therapeutics Holdings, Inc, a clinical-stage biopharmaceutical company, focuses on development and commercialization of novel therapeutics for treatment of rare hematologic diseases and cancers. Its core product candidates for development include FT-4202, which is Phase 1 trial for the treatment of sickle cell disease and other hemoglobinopathies; and FT-7051 for the treatment of metastatic castration-resistant prostate cancer.

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Institutional Ownership by Quarter for Forma Therapeutics (NASDAQ:FMTX)

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