Foghorn Therapeutics (NASDAQ:FHTX) Price Target Lowered to $14.00 at Morgan Stanley

Foghorn Therapeutics (NASDAQ:FHTXGet Rating) had its target price trimmed by Morgan Stanley from $15.00 to $14.00 in a report released on Monday, MarketBeat reports. The firm currently has an equal weight rating on the stock.

Several other research firms have also issued reports on FHTX. Wedbush reduced their target price on shares of Foghorn Therapeutics to $25.00 in a report on Tuesday, August 23rd. HC Wainwright lowered 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

NASDAQ:FHTX opened at $7.42 on Monday. The stock has a 50-day simple moving average of $8.28 and a two-hundred day simple moving average of $11.50. The firm has a market capitalization of $310.16 million, a PE ratio of -2.75 and a beta of 2.14. Foghorn Therapeutics has a 52-week low of $7.01 and a 52-week high of $24.34.

Institutional Investors Weigh In On Foghorn Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Foghorn Therapeutics by 2.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 51,870 shares of the company’s stock worth $790,000 after buying an additional 1,059 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Foghorn Therapeutics by 17.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 10,744 shares of the company’s stock valued at $146,000 after purchasing an additional 1,570 shares during the last quarter. State Street Corp boosted its holdings in shares of Foghorn Therapeutics by 0.4% during the 3rd quarter. State Street Corp now owns 371,618 shares of the company’s stock valued at $3,188,000 after purchasing an additional 1,586 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Foghorn Therapeutics by 92.0% during the third quarter. Tower Research Capital LLC TRC now owns 3,687 shares of the company’s stock valued at $31,000 after purchasing an additional 1,767 shares in the last quarter. Finally, Amalgamated Bank bought a new stake in shares of Foghorn Therapeutics in the first quarter worth about $38,000. 61.92% of the stock is owned by hedge funds and other institutional investors.

Foghorn Therapeutics Company Profile

(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.

Further Reading

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