Foghorn Therapeutics (NASDAQ:FHTX) Stock Price Down 6.7%

Foghorn Therapeutics Inc. (NASDAQ:FHTX)’s stock price traded down 6.7% on Friday . The stock traded as low as $14.01 and last traded at $14.01. 101 shares changed hands during trading, a decline of 100% from the average session volume of 101,467 shares. The stock had previously closed at $15.02.

Separately, Zacks Investment Research cut Foghorn Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, September 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $22.00.

The company has a market capitalization of $524.51 million and a P/E ratio of -2.28. The company has a debt-to-equity ratio of 0.19, a current ratio of 8.81 and a quick ratio of 8.81. The company has a fifty day moving average price of $11.13 and a two-hundred day moving average price of $11.19.

A number of hedge funds have recently made changes to their positions in FHTX. Geode Capital Management LLC boosted its holdings in Foghorn Therapeutics by 10.7% in the first quarter. Geode Capital Management LLC now owns 146,640 shares of the company’s stock valued at $1,932,000 after acquiring an additional 14,128 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Foghorn Therapeutics by 7.5% in the first quarter. Bank of New York Mellon Corp now owns 19,440 shares of the company’s stock valued at $256,000 after acquiring an additional 1,354 shares during the last quarter. Morgan Stanley boosted its holdings in Foghorn Therapeutics by 821.1% in the first quarter. Morgan Stanley now owns 393,722 shares of the company’s stock valued at $5,190,000 after acquiring an additional 350,978 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Foghorn Therapeutics in the first quarter valued at approximately $1,439,000. Finally, Octagon Capital Advisors LP bought a new stake in Foghorn Therapeutics in the first quarter valued at approximately $911,000. Institutional investors and hedge funds own 63.38% of the company’s stock.

Foghorn Therapeutics Company Profile (NASDAQ:FHTX)

Foghorn Therapeutics Inc, a clinical-stage biopharmaceutical company, discovers and develops medicines targeting genetically determined dependencies within the chromatin regulatory system. The company uses its proprietary Gene Traffic Control platform to identify, validate, and potentially drug targets within the system.

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