Foghorn Therapeutics Inc. (NASDAQ:FHTX) Shares Purchased by Walleye Capital LLC

Walleye Capital LLC raised its stake in Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 162.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,927 shares of the company’s stock after purchasing an additional 27,782 shares during the quarter. Walleye Capital LLC owned about 0.08% of Foghorn Therapeutics worth $418,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Foghorn Therapeutics in the third quarter valued at about $99,000. Renaissance Technologies LLC purchased a new position in Foghorn Therapeutics in the second quarter valued at about $62,000. The Manufacturers Life Insurance Company purchased a new position in Foghorn Therapeutics in the second quarter valued at about $64,000. MetLife Investment Management LLC raised its position in Foghorn Therapeutics by 129.1% in the third quarter. MetLife Investment Management LLC now owns 15,898 shares of the company’s stock valued at $148,000 after purchasing an additional 8,958 shares during the period. Finally, Rhumbline Advisers raised its position in Foghorn Therapeutics by 34.3% in the second quarter. Rhumbline Advisers now owns 35,910 shares of the company’s stock valued at $206,000 after purchasing an additional 9,171 shares during the period. 61.55% of the stock is owned by hedge funds and other institutional investors.

Foghorn Therapeutics Stock Down 4.1 %

Shares of Foghorn Therapeutics stock opened at $6.30 on Tuesday. The firm has a market cap of $350.24 million, a P/E ratio of -3.28 and a beta of 3.10. Foghorn Therapeutics Inc. has a fifty-two week low of $2.70 and a fifty-two week high of $10.25. The business has a 50-day moving average price of $7.97 and a 200 day moving average price of $7.18.

Insider Activity at Foghorn Therapeutics

In other Foghorn Therapeutics news, insider Carlos Costa sold 35,756 shares of Foghorn Therapeutics stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $10.04, for a total value of $358,990.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Evercore ISI assumed coverage on Foghorn Therapeutics in a research report on Monday, August 19th. They issued an “outperform” rating and a $20.00 price objective on the stock. Jefferies Financial Group started coverage on Foghorn Therapeutics in a research report on Tuesday, September 3rd. They set a “buy” rating and a $18.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Foghorn Therapeutics in a research report on Monday, August 12th. Finally, Morgan Stanley lifted their target price on Foghorn Therapeutics from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

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.