Jacobs Levy Equity Management Inc. Raises Stock Holdings in Foghorn Therapeutics Inc. (NASDAQ:FHTX)

Jacobs Levy Equity Management Inc. grew its stake in shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 101.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 216,270 shares of the company’s stock after acquiring an additional 108,700 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.51% of Foghorn Therapeutics worth $1,451,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its stake in shares of Foghorn Therapeutics by 788.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,000 shares of the company’s stock worth $32,000 after buying an additional 4,437 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new position in Foghorn Therapeutics in the first quarter worth about $77,000. Alta Wealth Advisors LLC bought a new stake in shares of Foghorn Therapeutics during the 4th quarter valued at about $194,000. Acadian Asset Management LLC purchased a new stake in shares of Foghorn Therapeutics during the 1st quarter valued at about $283,000. Finally, Panagora Asset Management Inc. lifted its stake in shares of Foghorn Therapeutics by 180.6% in the 4th quarter. Panagora Asset Management Inc. now owns 97,017 shares of the company’s stock worth $626,000 after purchasing an additional 62,441 shares during the period. Hedge funds and other institutional investors own 61.55% of the company’s stock.

Foghorn Therapeutics Stock Performance

Shares of Foghorn Therapeutics stock opened at $6.51 on Friday. Foghorn Therapeutics Inc. has a twelve month low of $2.70 and a twelve month high of $9.97. The business has a 50-day moving average price of $5.86 and a 200-day moving average price of $5.81.

Foghorn Therapeutics (NASDAQ:FHTX) last issued its quarterly earnings data on Monday, May 6th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.04). The firm had revenue of $5.05 million during the quarter, compared to analyst estimates of $7.53 million. Sell-side analysts expect that Foghorn Therapeutics Inc. will post -2.2 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of Foghorn Therapeutics in a research report on Tuesday, May 7th. Wedbush restated an “outperform” rating and issued a $13.00 price objective on shares of Foghorn Therapeutics in a research note on Wednesday, April 10th.

Foghorn Therapeutics Company 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.