Foghorn Therapeutics Inc. (NASDAQ:FHTX) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX - Free Report) by 27.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 677,386 shares of the company's stock after buying an additional 146,276 shares during the quarter. Geode Capital Management LLC owned approximately 1.22% of Foghorn Therapeutics worth $6,308,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FHTX. Perceptive Advisors LLC purchased a new position in Foghorn Therapeutics during the 2nd quarter valued at about $3,128,000. Charles Schwab Investment Management Inc. grew its position in shares of Foghorn Therapeutics by 10.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 75,495 shares of the company's stock valued at $703,000 after purchasing an additional 7,000 shares during the last quarter. State Street Corp increased its stake in shares of Foghorn Therapeutics by 4.9% during the 3rd quarter. State Street Corp now owns 505,945 shares of the company's stock worth $4,710,000 after purchasing an additional 23,630 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Foghorn Therapeutics during the 3rd quarter worth approximately $101,000. Finally, Bank of New York Mellon Corp lifted its stake in Foghorn Therapeutics by 30.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 79,433 shares of the company's stock valued at $457,000 after buying an additional 18,664 shares in the last quarter. 61.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on FHTX shares. HC Wainwright reissued a "buy" rating and set a $13.00 price target (down previously from $20.00) on shares of Foghorn Therapeutics in a research report on Tuesday, December 17th. 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 report on Monday, December 16th. Finally, Morgan Stanley upped their target price on shares of Foghorn Therapeutics from $6.00 to $9.00 and gave the company an "equal weight" rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $13.80.

Foghorn Therapeutics Stock Up 4.6 %

Shares of NASDAQ:FHTX traded up $0.21 during midday trading on Friday, reaching $4.80. The company's stock had a trading volume of 256,289 shares, compared to its average volume of 190,595. The firm has a market cap of $266.85 million, a price-to-earnings ratio of -2.50 and a beta of 3.10. The business has a 50 day moving average price of $6.94 and a 200 day moving average price of $7.09. Foghorn Therapeutics Inc. has a 1 year low of $2.70 and a 1 year high of $10.25.

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.