Forma Therapeutics (NASDAQ:FMTX) Reaches New 52-Week Low at $11.81

Forma Therapeutics Holdings, Inc. (NASDAQ:FMTX)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $11.81 and last traded at $11.90, with a volume of 2882 shares traded. The stock had previously closed at $11.97.

FMTX has been the subject of several research analyst reports. Zacks Investment Research upgraded Forma Therapeutics from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Monday, January 3rd. Cantor Fitzgerald restated an “overweight” rating on shares of Forma Therapeutics in a research note on Monday, October 18th. Finally, SVB Leerink restated a “buy” rating and set a $54.00 price target on shares of Forma Therapeutics in a research note on Monday, November 15th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $48.20.

The company has a 50-day moving average price of $15.18 and a two-hundred day moving average price of $19.99.

Forma Therapeutics (NASDAQ:FMTX) last issued its earnings results on Friday, November 12th. The company reported ($0.91) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.96) by $0.05. During the same period in the previous year, the company posted ($0.67) earnings per share. On average, analysts predict that Forma Therapeutics Holdings, Inc. will post -3.36 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Trexquant Investment LP purchased a new position in Forma Therapeutics in the third quarter valued at about $207,000. Cubist Systematic Strategies LLC bought a new position in Forma Therapeutics during the 2nd quarter worth approximately $227,000. Metropolitan Life Insurance Co NY lifted its holdings in Forma Therapeutics by 102,055.6% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 9,194 shares of the company’s stock worth $229,000 after buying an additional 9,185 shares during the last quarter. Virtus ETF Advisers LLC lifted its holdings in Forma Therapeutics by 46.9% during the 2nd quarter. Virtus ETF Advisers LLC now owns 9,220 shares of the company’s stock worth $229,000 after buying an additional 2,944 shares during the last quarter. Finally, Credit Suisse AG lifted its holdings in Forma Therapeutics by 8.7% during the 3rd quarter. Credit Suisse AG now owns 9,942 shares of the company’s stock worth $230,000 after buying an additional 799 shares during the last quarter. 83.18% of the stock is owned by hedge funds and other institutional investors.

About Forma Therapeutics (NASDAQ:FMTX)

Forma Therapeutics Holdings, Inc, a clinical-stage biopharmaceutical company, focuses on development and commercialization of novel therapeutics for treatment of rare hematologic diseases and cancers. Its core product candidates for development include FT-4202, which is Phase 1 trial for the treatment of sickle cell disease and other hemoglobinopathies; and FT-7051 for the treatment of metastatic castration-resistant prostate cancer.

See Also: What is a balanced fund?

Receive News & Ratings for Forma Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forma Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.