Forma Therapeutics (NASDAQ:FMTX) Trading Down 4.2%

Forma Therapeutics Holdings, Inc. (NASDAQ:FMTX)’s share price traded down 4.2% during trading on Tuesday . The company traded as low as $28.41 and last traded at $28.64. 687 shares were traded during trading, a decline of 100% from the average session volume of 492,217 shares. The stock had previously closed at $29.91.

A number of analysts recently commented on the company. Oppenheimer reiterated a “buy” rating on shares of Forma Therapeutics in a report on Thursday, March 18th. HC Wainwright raised their target price on Forma Therapeutics from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, March 31st. Finally, Zacks Investment Research downgraded Forma Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, February 18th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $59.29.

The company has a 50-day moving average price of $33.66 and a two-hundred day moving average price of $39.83.

Forma Therapeutics (NASDAQ:FMTX) last announced its quarterly earnings results on Monday, March 29th. The company reported ($0.68) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.80) by $0.12. On average, analysts expect that Forma Therapeutics Holdings, Inc. will post -4.09 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. American International Group Inc. grew its position in shares of Forma Therapeutics by 3.7% in the fourth quarter. American International Group Inc. now owns 9,996 shares of the company’s stock valued at $349,000 after purchasing an additional 358 shares in the last quarter. Penserra Capital Management LLC purchased a new position in Forma Therapeutics during the fourth quarter worth about $32,000. Pacer Advisors Inc. grew its position in Forma Therapeutics by 84.3% during the first quarter. Pacer Advisors Inc. now owns 2,213 shares of the company’s stock worth $62,000 after buying an additional 1,012 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Forma Therapeutics by 16.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 10,057 shares of the company’s stock worth $351,000 after buying an additional 1,422 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in Forma Therapeutics by 31.1% during the fourth quarter. Hsbc Holdings PLC now owns 6,507 shares of the company’s stock worth $235,000 after buying an additional 1,542 shares in the last quarter. Institutional investors own 67.28% of the company’s stock.

Forma Therapeutics Company Profile (NASDAQ:FMTX)

Forma Therapeutics Holdings, Inc, a clinical-stage biopharmaceutical company, engages in the 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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