Foghorn Therapeutics (NASDAQ:FHTX) Upgraded at B. Riley

Foghorn Therapeutics (NASDAQ:FHTX) was upgraded by B. Riley to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Several other research firms also recently issued reports on FHTX. Jefferies Financial Group decreased their price objective on shares of Foghorn Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, December 16th. HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective (down previously from $20.00) on shares of Foghorn Therapeutics in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Foghorn Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $13.17.

Foghorn Therapeutics Stock Up 9.0 %

Shares of FHTX opened at $4.34 on Wednesday. The stock has a 50 day moving average price of $5.39 and a 200 day moving average price of $6.93. Foghorn Therapeutics has a 52-week low of $2.70 and a 52-week high of $10.25. The company has a market capitalization of $241.35 million, a price-to-earnings ratio of -2.26 and a beta of 3.21.

Institutional Trading of Foghorn Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in FHTX. Geode Capital Management LLC grew its holdings in 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. Wingate Wealth Advisors Inc. acquired a new position in shares of Foghorn Therapeutics during the 4th quarter worth $134,000. Wellington Management Group LLP increased its holdings in shares of Foghorn Therapeutics by 64.9% in the 3rd quarter. Wellington Management Group LLP now owns 72,216 shares of the company’s stock valued at $672,000 after purchasing an additional 28,427 shares in the last quarter. Walleye Capital LLC lifted its stake in shares of Foghorn Therapeutics by 162.0% in the third quarter. Walleye Capital LLC now owns 44,927 shares of the company’s stock valued at $418,000 after purchasing an additional 27,782 shares during the period. Finally, Barclays PLC grew its holdings in shares of Foghorn Therapeutics by 191.6% in the 3rd 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. 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.