Foghorn Therapeutics (NASDAQ:FHTX) Now Covered by Analysts at B. Riley

B. Riley assumed coverage on shares of Foghorn Therapeutics (NASDAQ:FHTX) in a report released on Thursday, MarketBeat reports. The firm issued a buy rating and a $10.00 target price on the stock.

Several other equities research analysts have also issued reports on FHTX. Jefferies Financial Group reduced their price objective on shares of Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, December 16th. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price target (down previously from $20.00) on shares of Foghorn Therapeutics in a research report on Tuesday, December 17th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $13.17.

Foghorn Therapeutics Stock Up 9.0 %

NASDAQ FHTX opened at $4.34 on Thursday. The stock has a market capitalization of $241.35 million, a PE ratio of -2.26 and a beta of 3.21. Foghorn Therapeutics has a 12-month low of $2.70 and a 12-month high of $10.25. The company has a 50 day moving average price of $5.39 and a two-hundred day moving average price of $6.93.

Institutional Investors Weigh In On Foghorn Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of Foghorn Therapeutics by 27.5% in the third quarter. Geode Capital Management LLC now owns 677,386 shares of the company’s stock worth $6,308,000 after purchasing an additional 146,276 shares during the period. Wingate Wealth Advisors Inc. bought a new position in Foghorn Therapeutics in the 4th quarter worth approximately $134,000. Wellington Management Group LLP lifted its holdings in shares of Foghorn Therapeutics by 64.9% during the third quarter. Wellington Management Group LLP now owns 72,216 shares of the company’s stock worth $672,000 after buying an additional 28,427 shares during the last quarter. Walleye Capital LLC increased its position in Foghorn Therapeutics by 162.0% during the third quarter. Walleye Capital LLC now owns 44,927 shares of the company’s stock worth $418,000 after acquiring an additional 27,782 shares during the period. Finally, Barclays PLC raised its holdings in Foghorn Therapeutics by 191.6% in the 3rd quarter. Barclays PLC now owns 39,920 shares of the company’s stock valued at $371,000 after acquiring an additional 26,228 shares in the last quarter. 61.55% of the stock is currently owned by institutional investors.

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.