Foghorn Therapeutics Inc. (NASDAQ:FHTX) Short Interest Update

Foghorn Therapeutics Inc. (NASDAQ:FHTX) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 918,000 shares, a growth of 9.1% from the January 15th total of 841,700 shares. Approximately 3.5% of the shares of the company are sold short. Based on an average daily volume of 159,900 shares, the days-to-cover ratio is currently 5.7 days.

Institutional Trading of Foghorn Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Zacks Investment Management bought a new position in shares of Foghorn Therapeutics in the 3rd quarter valued at $96,000. Lazard Asset Management LLC bought a new position in Foghorn Therapeutics in the fourth quarter valued at about $49,000. SG Americas Securities LLC acquired a new stake in shares of Foghorn Therapeutics during the third quarter valued at about $99,000. Cubist Systematic Strategies LLC bought a new stake in shares of Foghorn Therapeutics during the fourth quarter worth about $51,000. Finally, XTX Topco Ltd acquired a new position in shares of Foghorn Therapeutics in the third quarter valued at approximately $101,000. Institutional investors and hedge funds own 61.55% of the company’s stock.

Wall Street Analysts Forecast Growth

FHTX has been the topic of several recent research reports. Jefferies Financial Group lowered their price objective on Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective (down previously from $20.00) on shares of Foghorn Therapeutics in a research note on Tuesday, December 17th. Finally, B. Riley assumed coverage on Foghorn Therapeutics in a research note on Thursday, January 30th. They issued a “buy” rating and a $10.00 price target for the company. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Foghorn Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $13.17.

Foghorn Therapeutics Trading Down 0.5 %

Shares of NASDAQ FHTX opened at $6.13 on Tuesday. The company has a market cap of $340.89 million, a price-to-earnings ratio of -3.19 and a beta of 3.18. The stock has a 50-day moving average price of $4.81 and a two-hundred day moving average price of $6.81. Foghorn Therapeutics has a 12 month low of $3.86 and a 12 month high of $10.25.

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.