Cornercap Investment Counsel Inc. Cuts Stake in Foghorn Therapeutics Inc. (NASDAQ:FHTX)

Cornercap Investment Counsel Inc. trimmed its stake in Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 48.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,147 shares of the company’s stock after selling 12,420 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Foghorn Therapeutics were worth $122,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. grew its stake in shares of Foghorn Therapeutics by 101.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 216,270 shares of the company’s stock valued at $1,451,000 after buying an additional 108,700 shares during the period. Perceptive Advisors LLC purchased a new stake in Foghorn Therapeutics during the second quarter valued at about $3,128,000. Raymond James & Associates increased its stake in Foghorn Therapeutics by 4.8% during the second quarter. Raymond James & Associates now owns 2,338,423 shares of the company’s stock worth $13,446,000 after acquiring an additional 107,967 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Foghorn Therapeutics by 30.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 79,433 shares of the company’s stock worth $457,000 after purchasing an additional 18,664 shares during the period. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Foghorn Therapeutics in the 1st quarter valued at about $77,000. Institutional investors and hedge funds own 61.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FHTX shares. Jefferies Financial Group began coverage on shares of Foghorn Therapeutics in a research report on Tuesday, September 3rd. They set a “buy” rating and a $18.00 target price for the company. Wedbush reissued an “outperform” rating and issued a $13.00 target price on shares of Foghorn Therapeutics in a research note on Thursday, August 8th. Morgan Stanley upped their price target on shares of Foghorn Therapeutics from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 24th. Evercore ISI started coverage on Foghorn Therapeutics in a research report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of Foghorn Therapeutics in a research report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Foghorn Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Foghorn Therapeutics Trading Down 3.7 %

FHTX opened at $7.71 on Tuesday. Foghorn Therapeutics Inc. has a twelve month low of $2.70 and a twelve month high of $10.25. The firm has a market cap of $428.60 million, a price-to-earnings ratio of -4.02 and a beta of 3.14. The company has a fifty day simple moving average of $8.50 and a 200 day simple moving average of $7.01.

Insider Buying and Selling at Foghorn Therapeutics

In other news, insider Carlos Costa sold 35,756 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $10.04, for a total transaction of $358,990.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.07% of the stock is owned by insiders.

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.