Foghorn Therapeutics Inc. (NASDAQ:FHTX) Insider Sells $358,990.24 in Stock

Foghorn Therapeutics Inc. (NASDAQ:FHTX) insider Carlos Costa sold 35,756 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $10.04, for a total value of $358,990.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Carlos Costa also recently made the following trade(s):

• On Monday, September 23rd, Carlos Costa sold 857 shares of Foghorn Therapeutics stock. The shares were sold at an average price of $10.17, for a total value of $8,715.69.

Foghorn Therapeutics Trading Up 5.8 %

NASDAQ FHTX opened at $9.68 on Friday. Foghorn Therapeutics Inc. has a 1 year low of $2.70 and a 1 year high of $10.25. The company has a market cap of $535.59 million, a PE ratio of -4.40 and a beta of 3.11. The stock’s 50-day moving average price is $7.58 and its two-hundred day moving average price is $6.53.

Foghorn Therapeutics (NASDAQ:FHTX) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.15. The firm had revenue of $6.89 million for the quarter, compared to analyst estimates of $6.60 million. Research analysts forecast that Foghorn Therapeutics Inc. will post -1.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Evercore ISI began coverage on Foghorn Therapeutics in a report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price objective for the company. Morgan Stanley raised their price objective on shares of Foghorn Therapeutics from $6.00 to $9.00 and gave the company an “equal weight” rating in a research report on Tuesday. Wedbush reiterated an “outperform” rating and issued a $13.00 target price on shares of Foghorn Therapeutics in a report on Thursday, August 8th. Jefferies Financial Group assumed coverage on shares of Foghorn Therapeutics in a research note on Tuesday, September 3rd. They set a “buy” rating and a $18.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Foghorn Therapeutics in a report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $16.00.

Institutional Trading of Foghorn Therapeutics

Hedge funds have recently modified their holdings of the business. Deerfield Management Company L.P. Series C purchased a new position in shares of Foghorn Therapeutics during the second quarter valued at $14,481,000. Perceptive Advisors LLC acquired a new stake in Foghorn Therapeutics during the 2nd quarter worth about $3,128,000. Driehaus Capital Management LLC grew its stake in Foghorn Therapeutics by 102.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 568,470 shares of the company’s stock valued at $3,269,000 after acquiring an additional 288,088 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Foghorn Therapeutics by 101.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 216,270 shares of the company’s stock valued at $1,451,000 after purchasing an additional 108,700 shares during the period. Finally, Raymond James & Associates increased its holdings in shares of Foghorn Therapeutics by 4.8% in the 2nd quarter. Raymond James & Associates now owns 2,338,423 shares of the company’s stock valued at $13,446,000 after purchasing an additional 107,967 shares during the period. Hedge funds and other institutional investors own 61.55% of the company’s stock.

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.