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

B. Riley began coverage on shares of Foghorn Therapeutics (NASDAQ:FHTX) in a research report released on Thursday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $10.00 price objective on the stock.

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

Foghorn Therapeutics Stock Down 3.5 %

Shares of NASDAQ:FHTX opened at $4.19 on Thursday. Foghorn Therapeutics has a fifty-two week low of $2.70 and a fifty-two week high of $10.25. The firm’s 50 day moving average price is $5.32 and its 200 day moving average price is $6.92. The stock has a market cap of $233.01 million, a price-to-earnings ratio of -2.18 and a beta of 3.21.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in Foghorn Therapeutics by 27.5% in the third quarter. Geode Capital Management LLC now owns 677,386 shares of the company’s stock valued at $6,308,000 after acquiring an additional 146,276 shares in the last quarter. State Street Corp lifted its holdings in shares of Foghorn Therapeutics by 4.9% in the 3rd quarter. State Street Corp now owns 505,945 shares of the company’s stock valued at $4,710,000 after purchasing an additional 23,630 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Foghorn Therapeutics by 10.2% in the 3rd 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 period. Wellington Management Group LLP grew its stake in Foghorn Therapeutics by 64.9% during the 3rd 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. Finally, 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 buying an additional 27,782 shares during the period. 61.55% of the stock is owned by hedge funds and other 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.