Foghorn Therapeutics (NASDAQ:FHTX) PT Lowered to $14.00

Foghorn Therapeutics (NASDAQ:FHTXGet Rating) had its price objective cut by equities research analysts at Morgan Stanley from $15.00 to $14.00 in a research report issued on Monday, Marketbeat reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 83.73% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Wedbush reduced their target price on shares of Foghorn Therapeutics to $25.00 in a research note on Tuesday, August 23rd. HC Wainwright reduced their target price on shares of Foghorn Therapeutics from $25.00 to $18.00 in a research note on Wednesday, August 10th.

Foghorn Therapeutics Stock Performance

FHTX stock opened at $7.62 on Monday. Foghorn Therapeutics has a one year low of $7.01 and a one year high of $24.34. The stock has a market capitalization of $318.53 million, a PE ratio of -2.87 and a beta of 2.14. The company has a fifty day moving average of $8.37 and a 200-day moving average of $11.55.

Institutional Trading of Foghorn Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Alphabet Inc. acquired a new stake in shares of Foghorn Therapeutics in the third quarter valued at about $4,298,000. BNP Paribas Arbitrage SNC acquired a new position in Foghorn Therapeutics during the third quarter worth about $92,000. State Street Corp raised its position in Foghorn Therapeutics by 0.4% during the third quarter. State Street Corp now owns 371,618 shares of the company’s stock worth $3,188,000 after acquiring an additional 1,586 shares during the last quarter. Trexquant Investment LP acquired a new position in Foghorn Therapeutics during the third quarter worth about $190,000. Finally, Vanguard Group Inc. grew its holdings in shares of Foghorn Therapeutics by 0.5% during the third quarter. Vanguard Group Inc. now owns 1,012,922 shares of the company’s stock worth $8,691,000 after buying an additional 5,333 shares in the last quarter. Institutional investors and hedge funds own 61.92% of the company’s stock.

About Foghorn Therapeutics

(Get Rating)

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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