Foghorn Therapeutics Inc. (NASDAQ:FHTX) Short Interest Update

Foghorn Therapeutics Inc. (NASDAQ:FHTX) saw a large growth in short interest in July. As of July 15th, there was short interest totalling 1,260,000 shares, a growth of 15.6% from the June 30th total of 1,090,000 shares. Approximately 4.0% of the company’s shares are sold short. Based on an average daily trading volume, of 102,900 shares, the days-to-cover ratio is currently 12.2 days.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FHTX. Raymond James & Associates raised its position in shares of Foghorn Therapeutics by 45.0% in the 4th quarter. Raymond James & Associates now owns 2,068,387 shares of the company’s stock worth $13,341,000 after acquiring an additional 642,161 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Foghorn Therapeutics by 101.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 216,270 shares of the company’s stock worth $1,451,000 after acquiring an additional 108,700 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Foghorn Therapeutics by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 1,102,493 shares of the company’s stock worth $7,398,000 after acquiring an additional 77,380 shares in the last quarter. Panagora Asset Management Inc. raised its position in shares of Foghorn Therapeutics by 180.6% in the 4th quarter. Panagora Asset Management Inc. now owns 97,017 shares of the company’s stock worth $626,000 after acquiring an additional 62,441 shares in the last quarter. Finally, Birchview Capital LP raised its position in shares of Foghorn Therapeutics by 21.2% in the 4th quarter. Birchview Capital LP now owns 320,930 shares of the company’s stock worth $2,070,000 after acquiring an additional 56,087 shares in the last quarter. 61.55% of the stock is owned by institutional investors.

Foghorn Therapeutics Stock Performance

NASDAQ:FHTX opened at $6.90 on Monday. Foghorn Therapeutics has a one year low of $2.70 and a one year high of $9.97. The firm has a 50-day simple moving average of $5.81 and a 200-day simple moving average of $5.78.

Foghorn Therapeutics (NASDAQ:FHTX) last announced its quarterly earnings results on Monday, May 6th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.04). The firm had revenue of $5.05 million during the quarter, compared to analyst estimates of $7.53 million. On average, research analysts forecast that Foghorn Therapeutics will post -2.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FHTX shares. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Foghorn Therapeutics in a report on Tuesday, May 7th. Wedbush reiterated an “outperform” rating and set a $13.00 price objective on shares of Foghorn Therapeutics in a report on Wednesday, April 10th.

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.