Principal Financial Group Inc. Increases Position in Forma Therapeutics Holdings, Inc. (NASDAQ:FMTX)

Principal Financial Group Inc. lifted its position in shares of Forma Therapeutics Holdings, Inc. (NASDAQ:FMTX) by 13.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 10,330 shares of the company’s stock after buying an additional 1,194 shares during the period. Principal Financial Group Inc.’s holdings in Forma Therapeutics were worth $257,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Alliancebernstein L.P. increased its position in Forma Therapeutics by 22.0% during the first quarter. Alliancebernstein L.P. now owns 28,300 shares of the company’s stock worth $793,000 after purchasing an additional 5,100 shares during the last quarter. Rhumbline Advisers increased its position in Forma Therapeutics by 58.0% during the first quarter. Rhumbline Advisers now owns 31,340 shares of the company’s stock worth $878,000 after purchasing an additional 11,506 shares during the last quarter. BlackRock Inc. increased its position in Forma Therapeutics by 24.9% during the first quarter. BlackRock Inc. now owns 3,289,576 shares of the company’s stock worth $92,176,000 after purchasing an additional 654,826 shares during the last quarter. New York State Common Retirement Fund increased its position in Forma Therapeutics by 35.1% during the first quarter. New York State Common Retirement Fund now owns 23,500 shares of the company’s stock worth $658,000 after purchasing an additional 6,100 shares during the last quarter. Finally, UBS Group AG increased its position in Forma Therapeutics by 2,707.9% during the first quarter. UBS Group AG now owns 49,841 shares of the company’s stock worth $1,396,000 after purchasing an additional 48,066 shares during the last quarter. 85.18% of the stock is currently owned by institutional investors and hedge funds.

FMTX has been the subject of several research analyst reports. Craig Hallum started coverage on shares of Forma Therapeutics in a research report on Monday, August 2nd. They set a “buy” rating and a $58.00 price target for the company. Zacks Investment Research lowered shares of Forma Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday. Finally, HC Wainwright dropped their price objective on shares of Forma Therapeutics from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, August 17th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Forma Therapeutics has a consensus rating of “Buy” and a consensus target price of $58.00.

FMTX opened at $17.99 on Thursday. The company has a fifty day simple moving average of $22.90 and a 200 day simple moving average of $25.03. The firm has a market cap of $852.53 million, a price-to-earnings ratio of -5.94 and a beta of -0.27. Forma Therapeutics Holdings, Inc. has a twelve month low of $17.50 and a twelve month high of $56.33.

Forma Therapeutics (NASDAQ:FMTX) last released its quarterly earnings results on Thursday, August 12th. The company reported ($0.92) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.79) by ($0.13). Analysts forecast that Forma Therapeutics Holdings, Inc. will post -3.44 earnings per share for the current year.

Forma Therapeutics Profile

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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Institutional Ownership by Quarter for Forma Therapeutics (NASDAQ:FMTX)

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