Foghorn Therapeutics Inc. (NASDAQ:FHTX) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP boosted its holdings in Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 64.9% in the third quarter, HoldingsChannel.com reports. The firm owned 72,216 shares of the company’s stock after acquiring an additional 28,427 shares during the period. Wellington Management Group LLP’s holdings in Foghorn Therapeutics were worth $672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Foghorn Therapeutics in the 3rd quarter valued at about $99,000. Renaissance Technologies LLC bought a new position in Foghorn Therapeutics in the second quarter worth about $62,000. The Manufacturers Life Insurance Company bought a new position in Foghorn Therapeutics in the second quarter worth about $64,000. MetLife Investment Management LLC boosted its stake in Foghorn Therapeutics by 129.1% in the third quarter. MetLife Investment Management LLC now owns 15,898 shares of the company’s stock valued at $148,000 after acquiring an additional 8,958 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Foghorn Therapeutics by 34.3% during the second quarter. Rhumbline Advisers now owns 35,910 shares of the company’s stock valued at $206,000 after purchasing an additional 9,171 shares during the last quarter. Institutional investors own 61.55% of the company’s stock.

Foghorn Therapeutics Trading Up 3.2 %

Foghorn Therapeutics stock opened at $5.14 on Friday. The company’s 50-day moving average price is $7.50 and its two-hundred day moving average price is $7.15. The stock has a market cap of $285.75 million, a price-to-earnings ratio of -2.68 and a beta of 3.10. Foghorn Therapeutics Inc. has a 52 week low of $2.70 and a 52 week high of $10.25.

Analysts Set New Price Targets

FHTX has been the subject of a number of analyst reports. Jefferies Financial Group reduced 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. Morgan Stanley boosted their price target 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. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price objective (down previously from $20.00) on shares of Foghorn Therapeutics in a report on Tuesday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Foghorn Therapeutics has an average rating of “Moderate Buy” and an average price target of $13.80.

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.