Raymond James Financial Inc. Takes $9.58 Million Position in Foghorn Therapeutics Inc. (NASDAQ:FHTX)

Raymond James Financial Inc. acquired a new position in shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,029,383 shares of the company's stock, valued at approximately $9,579,000. Raymond James Financial Inc. owned approximately 3.65% of Foghorn Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in shares of Foghorn Therapeutics by 9.1% in the fourth quarter. Rhumbline Advisers now owns 36,384 shares of the company's stock worth $172,000 after buying an additional 3,049 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Foghorn Therapeutics by 10.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 75,495 shares of the company's stock worth $703,000 after purchasing an additional 7,000 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Foghorn Therapeutics by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 15,898 shares of the company's stock worth $148,000 after purchasing an additional 8,958 shares in the last quarter. Zacks Investment Management purchased a new position in shares of Foghorn Therapeutics during the 3rd quarter valued at $96,000. Finally, XTX Topco Ltd purchased a new position in shares of Foghorn Therapeutics during the 3rd quarter valued at $101,000. Institutional investors own 61.55% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FHTX. Jefferies Financial Group dropped their price objective on 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 reissued a "buy" rating and set a $13.00 price objective on shares of Foghorn Therapeutics in a report on Friday, March 7th. Finally, B. Riley began coverage on shares of Foghorn Therapeutics in a research report on Thursday, January 30th. They issued a "buy" rating and a $10.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $13.17.

Remove Ads

Foghorn Therapeutics Stock Down 5.9 %

Shares of NASDAQ FHTX traded down $0.25 during trading hours on Tuesday, reaching $3.97. 106,853 shares of the stock traded hands, compared to its average volume of 130,236. The company's 50-day simple moving average is $4.66 and its two-hundred day simple moving average is $6.43. The company has a market capitalization of $220.78 million, a P/E ratio of -2.07 and a beta of 3.13. Foghorn Therapeutics Inc. has a 52-week low of $3.86 and a 52-week high of $10.25.

Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.13. The business had revenue of $2.86 million for the quarter, compared to analysts' expectations of $8.56 million. As a group, sell-side analysts forecast that Foghorn Therapeutics Inc. will post -1.55 earnings per share for the current fiscal year.

Foghorn Therapeutics 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.