Foghorn Therapeutics Inc. (NASDAQ:FHTX) Shares Purchased by Barclays PLC

Barclays PLC boosted its stake in shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 191.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 39,920 shares of the company’s stock after purchasing an additional 26,228 shares during the quarter. Barclays PLC’s holdings in Foghorn Therapeutics were worth $371,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in shares of Foghorn Therapeutics by 27.5% during the 3rd 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 during the last quarter. XTX Topco Ltd acquired a new position in Foghorn Therapeutics in the 3rd quarter valued at about $101,000. Zacks Investment Management purchased a new stake in shares of Foghorn Therapeutics in the 3rd quarter valued at approximately $96,000. Wellington Management Group LLP increased its holdings in shares of 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, State Street Corp raised its position 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 valued at $4,710,000 after buying an additional 23,630 shares during the period. 61.55% of the stock is currently owned by hedge funds and other institutional investors.

Foghorn Therapeutics Price Performance

Shares of Foghorn Therapeutics stock opened at $4.31 on Friday. The stock has a market capitalization of $239.59 million, a price-to-earnings ratio of -2.24 and a beta of 3.21. The business has a 50-day moving average of $6.13 and a 200 day moving average of $7.01. Foghorn Therapeutics Inc. has a 12 month low of $2.70 and a 12 month high of $10.25.

Wall Street Analysts Forecast Growth

FHTX has been the subject of several recent analyst reports. Morgan Stanley raised their target price on Foghorn Therapeutics from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 24th. Jefferies Financial Group cut 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, HC Wainwright reaffirmed a “buy” rating and set a $13.00 target price (down previously from $20.00) on shares of Foghorn Therapeutics in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.80.

About Foghorn Therapeutics

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.