Foghorn Therapeutics Inc. (NASDAQ:FHTX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $13.17.

FHTX has been the topic of several research analyst reports. B. Riley started coverage on shares of Foghorn Therapeutics in a research report on Thursday. They issued a “buy” rating and a $10.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $13.00 price target (down previously from $20.00) on shares of Foghorn Therapeutics in a report on Tuesday, December 17th. Finally, Jefferies Financial Group lowered 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.

Hedge Funds Weigh In On Foghorn Therapeutics

Institutional investors have recently made changes to their positions in the stock. Wingate Wealth Advisors Inc. acquired a new stake in Foghorn Therapeutics in the 4th quarter valued at approximately $134,000. China Universal Asset Management Co. Ltd. acquired a new stake in Foghorn Therapeutics in the fourth quarter worth about $56,000. Barclays PLC lifted its holdings in Foghorn Therapeutics by 191.6% in the third quarter. Barclays PLC now owns 39,920 shares of the company’s stock worth $371,000 after purchasing an additional 26,228 shares during the period. Geode Capital Management LLC grew its position in Foghorn Therapeutics by 27.5% in the 3rd quarter. Geode Capital Management LLC now owns 677,386 shares of the company’s stock valued at $6,308,000 after buying an additional 146,276 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Foghorn Therapeutics during the third quarter worth approximately $101,000. 61.55% of the stock is owned by institutional investors.

Foghorn Therapeutics Price Performance

Shares of NASDAQ FHTX traded up $0.15 on Thursday, hitting $4.13. The company’s stock had a trading volume of 11,033 shares, compared to its average volume of 117,831. Foghorn Therapeutics has a 12-month low of $2.70 and a 12-month high of $10.25. The stock has a 50 day moving average of $5.46 and a 200-day moving average of $6.95. The company has a market capitalization of $229.64 million, a price-to-earnings ratio of -2.16 and a beta of 3.21.

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.