The Vanguard Group, Inc. has recently announced that it has increased stake in Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 0.45%. After grabbing 0.98 million shares, the institutional investor is now in possession of 4404.0 shares of the Healthcare Company. The new investment brought the stake of investor firm to 2.34% having worth around $6.59 million. Moreover, Point72 Asset Management LP increased its share by 13589.0 to have a control over 0.39 million shares. And SSgA Funds Management, Inc. raised its holdings to 1586.0 shares by acquiring 0.37 million shares or 0.89% of the stake.
Foghorn Therapeutics Inc. (FHTX) concluded trading on 01/12/23 at a closing price of $8.99, with 0.43 million shares of worth about $3.86 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -37.91% during that period and on Thursday the price saw a gain of about 29.17%. Currently the company’s common shares owned by public are about 41.67M shares, out of which, 30.89M shares are available for trading.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 6 times over the past 12 months. They bought 128,250 shares in 5 of the transactions. In 1 selling transactions, insiders dumped 47,939 shares.
Fidelity Growth Company Fund, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Foghorn Therapeutics Inc. Fidelity Growth Company Fund is currently holding 0.96 million shares of worth totaling $6.5 million. The company recently came selling 22948.0 shares which brought its stake up to 2.30% of the company’s outstanding shares. iShares Russell 2000 ETF, after buying 0.44 million shares, have now control over 1.04% of the stake in the company. It holds 888.0 shares of worth $2.94 million.
Foghorn Therapeutics Inc. (NASDAQ: FHTX) started trading at $6.97, above $0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 9.85, or with a gain of 29.17%. Stock saw a price change of 39.38% in past 5 days and over the past one month there was a price change of 37.25%. Year-to-date (YTD), FHTX shares are showing a performance of 40.91% which decreased to -52.96% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $5.32 but also hit the highest price of $19.48 during that period. The average intraday trading volume for Foghorn Therapeutics Inc. shares is 80.77K. The stock is currently trading 42.79% above its 20-day simple moving average (SMA20), while that difference is up 24.34% for SMA50 and it goes to -18.42% lower than SMA200.
The Vanguard Group, Inc. acquired 0.98 million shares of Foghorn Therapeutics Inc. having value of about $6.59 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 4404.0 shares in the company valued at close to $39591.96, or have control over 0.45% stake in the company. Foghorn Therapeutics Inc. (NASDAQ: FHTX) currently have 41.67M outstanding shares and institutions hold larger chunk of about 62.90% of that. Holding of mutual funds in the company is about 14.35% while other institutional holders and individual stake holders have control over 20.73% and 10.49% of the stake respectively.
The stock has a current market capitalization of $374.61M. It has posted earnings per share of -$2.69 in the same period. It has Quick Ratio of 6.80 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FHTX, volatility over the week remained 17.71% while standing at 11.13% over the month.
Analysts are in expectations that Foghorn Therapeutics Inc. (FHTX) stock would likely to be making an EPS of -$0.62 in the current quarter, while forecast for next quarter EPS is -$0.64 and it is -$2.56 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.7 which is -$0.42 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.71 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -45.80% while it is estimated to increase by 0.40% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BMO Capital Markets on January 05, 2023 offering an Outperform rating for the stock and assigned a target price of $20 to it. Coverage by H.C. Wainwright stated Foghorn Therapeutics Inc. (FHTX) stock as a Buy in their note to investors on November 22, 2021, suggesting a price target of $25 for the stock. On November 17, 2020, Wedbush Initiated their recommendations, while on November 17, 2020, Morgan Stanley Initiated their ratings for the stock with a price target of $24. Stock get a Buy rating from Goldman on November 17, 2020.