Jacobs Levy Equity Management Inc. Has $1.20 Million Stock Holdings in Foghorn Therapeutics Inc. (NASDAQ:FHTX)

Jacobs Levy Equity Management Inc. decreased its position in shares of Foghorn Therapeutics Inc. (NASDAQ:FHTX) by 29.8% in the third quarter, Holdings Channel reports. The fund owned 129,331 shares of the company’s stock after selling 54,973 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Foghorn Therapeutics were worth $1,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Foghorn Therapeutics during the third quarter worth approximately $99,000. Renaissance Technologies LLC acquired a new position in shares of Foghorn Therapeutics during the second quarter valued at about $62,000. The Manufacturers Life Insurance Company bought a new stake in shares of Foghorn Therapeutics in the second quarter valued at about $64,000. MetLife Investment Management LLC grew its position in Foghorn Therapeutics by 129.1% during the third quarter. MetLife Investment Management LLC now owns 15,898 shares of the company’s stock worth $148,000 after buying an additional 8,958 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Foghorn Therapeutics by 34.3% during the 2nd quarter. Rhumbline Advisers now owns 35,910 shares of the company’s stock worth $206,000 after purchasing an additional 9,171 shares in the last quarter. 61.55% of the stock is currently owned by institutional investors.

Insider Transactions at Foghorn Therapeutics

In related news, insider Carlos Costa sold 35,756 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $10.04, for a total transaction of $358,990.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 9.07% of the company’s stock.

Foghorn Therapeutics Price Performance

NASDAQ FHTX opened at $6.57 on Monday. The stock’s 50 day simple moving average is $7.97 and its 200 day simple moving average is $7.18. Foghorn Therapeutics Inc. has a one year low of $2.70 and a one year high of $10.25. The firm has a market cap of $365.23 million, a PE ratio of -3.42 and a beta of 3.10.

Analyst Ratings Changes

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

Foghorn Therapeutics Profile

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.