Walleye Capital LLC Reduces Stock Position in Foghorn Therapeutics Inc. (NASDAQ:FHTX)

Walleye Capital LLC decreased its holdings in Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 24.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,048 shares of the company’s stock after selling 10,879 shares during the period. Walleye Capital LLC owned about 0.06% of Foghorn Therapeutics worth $161,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp increased its stake in Foghorn Therapeutics by 4.9% in the 3rd quarter. State Street Corp now owns 505,945 shares of the company’s stock worth $4,710,000 after buying an additional 23,630 shares during the period. Barclays PLC increased its position in shares of Foghorn Therapeutics by 191.6% during the third quarter. Barclays PLC now owns 39,920 shares of the company’s stock worth $371,000 after acquiring an additional 26,228 shares during the period. Geode Capital Management LLC increased its position in shares of Foghorn Therapeutics by 27.5% during the third quarter. Geode Capital Management LLC now owns 677,386 shares of the company’s stock worth $6,308,000 after acquiring an additional 146,276 shares during the period. Rhumbline Advisers raised its stake in shares of Foghorn Therapeutics by 9.1% during the fourth quarter. Rhumbline Advisers now owns 36,384 shares of the company’s stock valued at $172,000 after acquiring an additional 3,049 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Foghorn Therapeutics by 20.6% in the fourth quarter. Wellington Management Group LLP now owns 87,069 shares of the company’s stock valued at $411,000 after purchasing an additional 14,853 shares during the period. 61.55% of the stock is currently owned by institutional investors.

Foghorn Therapeutics Stock Down 2.5 %

NASDAQ FHTX opened at $4.36 on Friday. Foghorn Therapeutics Inc. has a 52 week low of $2.94 and a 52 week high of $10.25. The company has a 50 day moving average price of $4.16 and a 200 day moving average price of $5.52. The firm has a market cap of $242.47 million, a PE ratio of -2.27 and a beta of 3.16.

Foghorn Therapeutics (NASDAQ:FHTX) last issued its quarterly earnings results on Thursday, March 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.13. The business had revenue of $2.86 million for the quarter, compared to analyst estimates of $8.56 million. On average, equities research analysts anticipate that Foghorn Therapeutics Inc. will post -1.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on FHTX. B. Riley started coverage on Foghorn Therapeutics in a research report on Thursday, January 30th. They set a “buy” rating and a $10.00 target price for the company. Citizens Jmp started coverage on Foghorn Therapeutics in a report on Wednesday. They issued a “mkt outperform” rating and a $9.00 price objective for the company. JMP Securities assumed coverage on shares of Foghorn Therapeutics in a research report on Wednesday. They set a “market outperform” rating and a $9.00 target price on the stock. Citigroup started coverage on shares of Foghorn Therapeutics in a research report on Wednesday. They issued an “outperform” rating for the company. Finally, HC Wainwright reissued a “buy” rating and set a $13.00 price objective on shares of Foghorn Therapeutics in a report on Friday, March 7th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $12.13.

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.