Foghorn Therapeutics Inc. (NASDAQ:FHTX) Insider Carlos Costa Sells 35,756 Shares

Foghorn Therapeutics Inc. (NASDAQ:FHTX) insider Carlos Costa sold 35,756 shares of Foghorn Therapeutics stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $10.04, for a total transaction of $358,990.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

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

Foghorn Therapeutics Stock Performance

NASDAQ FHTX opened at $9.68 on Friday. The stock has a 50-day simple moving average of $7.58 and a 200 day simple moving average of $6.53. Foghorn Therapeutics Inc. has a twelve month low of $2.70 and a twelve month high of $10.25. The stock has a market capitalization of $535.59 million, a PE ratio of -4.40 and a beta of 3.11.

Foghorn Therapeutics (NASDAQ:FHTX) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.15. The business had revenue of $6.89 million for the quarter, compared to analyst estimates of $6.60 million. As a group, equities research analysts forecast that Foghorn Therapeutics Inc. will post -1.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Foghorn Therapeutics

Several large investors have recently bought and sold shares of FHTX. Renaissance Technologies LLC acquired a new stake in Foghorn Therapeutics in the 2nd quarter worth $62,000. The Manufacturers Life Insurance Company bought a new stake in shares of Foghorn Therapeutics in the second quarter valued at about $64,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Foghorn Therapeutics in the first quarter valued at about $77,000. Alta Wealth Advisors LLC bought a new position in Foghorn Therapeutics during the fourth quarter valued at about $194,000. Finally, Rhumbline Advisers raised its holdings in Foghorn Therapeutics by 34.3% in the 2nd quarter. Rhumbline Advisers now owns 35,910 shares of the company’s stock valued at $206,000 after acquiring an additional 9,171 shares in the last quarter. 61.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.