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.
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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.
