Foghorn Therapeutics Inc. (NASDAQ:FHTX) Shares Sold by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC lessened its position in shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 42.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,500 shares of the company’s stock after selling 25,000 shares during the quarter. Bridgeway Capital Management LLC owned approximately 0.06% of Foghorn Therapeutics worth $158,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of Foghorn Therapeutics during the 4th quarter worth $9,579,000. Geode Capital Management LLC raised its stake in shares of Foghorn Therapeutics by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 682,863 shares of the company’s stock worth $3,224,000 after buying an additional 5,477 shares during the last quarter. Northern Trust Corp raised its stake in shares of Foghorn Therapeutics by 1.1% during the 4th quarter. Northern Trust Corp now owns 253,671 shares of the company’s stock worth $1,197,000 after buying an additional 2,873 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Foghorn Therapeutics by 20.6% during the 4th quarter. Wellington Management Group LLP now owns 87,069 shares of the company’s stock worth $411,000 after buying an additional 14,853 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Foghorn Therapeutics by 415.5% during the 4th quarter. JPMorgan Chase & Co. now owns 56,531 shares of the company’s stock worth $267,000 after buying an additional 45,565 shares during the last quarter. Institutional investors and hedge funds own 61.55% of the company’s stock.

Foghorn Therapeutics Price Performance

FHTX opened at $4.33 on Wednesday. The stock has a market capitalization of $241.27 million, a price-to-earnings ratio of -2.26 and a beta of 3.13. The business has a 50-day moving average of $3.99 and a two-hundred day moving average of $5.24. Foghorn Therapeutics Inc. has a 12 month low of $2.94 and a 12 month high of $10.25.

Foghorn Therapeutics (NASDAQ:FHTX) last posted its quarterly earnings results on Thursday, March 6th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.13. The business had revenue of $2.86 million during the quarter, compared to analysts’ expectations of $8.56 million. Equities research analysts anticipate that Foghorn Therapeutics Inc. will post -1.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Citizens Jmp assumed coverage on shares of Foghorn Therapeutics in a research note on Wednesday, April 23rd. They issued a “mkt outperform” rating and a $9.00 target price for the company. JMP Securities reissued a “market outperform” rating and issued a $9.00 target price on shares of Foghorn Therapeutics in a research note on Wednesday, April 30th. Citigroup assumed coverage on shares of Foghorn Therapeutics in a research note on Wednesday, April 23rd. They issued an “outperform” rating for the company. B. Riley assumed coverage on shares of Foghorn Therapeutics in a research note on Thursday, January 30th. They issued a “buy” rating and a $10.00 target price for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $13.00 target price on shares of Foghorn Therapeutics in a research note on Wednesday, April 30th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $12.13.

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.