Shares of Forma Therapeutics Holdings, Inc. (NASDAQ:FMTX – Get Rating) saw strong trading volume on Friday . 36,469 shares changed hands during trading, a decline of 95% from the previous session's volume of 788,493 shares.The stock last traded at $20.00 and had previously closed at $20.24.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the stock. HC Wainwright lowered shares of Forma Therapeutics from a "buy" rating to a "neutral" rating and cut their price objective for the company from $53.00 to $20.00 in a research report on Friday. SVB Leerink cut their price objective on shares of Forma Therapeutics from $25.00 to $23.00 and set an "outperform" rating on the stock in a research report on Friday, May 27th. Cantor Fitzgerald lowered shares of Forma Therapeutics from an "overweight" rating to a "neutral" rating in a research report on Thursday. Credit Suisse Group lowered shares of Forma Therapeutics from an "outperform" rating to a "neutral" rating and set a $20.00 price objective on the stock. in a research report on Friday. Finally, Jefferies Financial Group downgraded Forma Therapeutics from a "buy" rating to a "hold" rating and lowered their price target for the company from $28.00 to $20.00 in a report on Friday. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $29.17.
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Forma Therapeutics Price Performance
The firm has a fifty day simple moving average of $9.50 and a 200 day simple moving average of $8.52. The company has a market cap of $956.10 million, a price-to-earnings ratio of -5.00 and a beta of 0.24.
Institutional Investors Weigh In On Forma Therapeutics
Several hedge funds and other institutional investors have recently modified their holdings of FMTX. Quantbot Technologies LP grew its stake in shares of Forma Therapeutics by 125.0% in the first quarter. Quantbot Technologies LP now owns 3,600 shares of the company's stock worth $33,000 after acquiring an additional 2,000 shares during the last quarter. Advisor Group Holdings Inc. grew its stake in shares of Forma Therapeutics by 17,885.7% in the first quarter. Advisor Group Holdings Inc. now owns 2,518 shares of the company's stock worth $33,000 after acquiring an additional 2,504 shares during the last quarter. Amalgamated Bank acquired a new stake in shares of Forma Therapeutics in the first quarter worth $38,000. US Bancorp DE grew its stake in shares of Forma Therapeutics by 282.5% in the first quarter. US Bancorp DE now owns 4,341 shares of the company's stock worth $40,000 after acquiring an additional 3,206 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Forma Therapeutics by 56.3% in the second quarter. Legal & General Group Plc now owns 10,187 shares of the company's stock worth $70,000 after acquiring an additional 3,670 shares during the last quarter. Institutional investors and hedge funds own 87.39% of the company's stock.
About Forma Therapeutics
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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.
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