Alps Advisors Inc. Reduces Stake in Forma Therapeutics Holdings, Inc. (NASDAQ:FMTX)

Alps Advisors Inc. lowered its holdings in Forma Therapeutics Holdings, Inc. (NASDAQ:FMTXGet Rating) by 41.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 28,359 shares of the company’s stock after selling 20,430 shares during the quarter. Alps Advisors Inc. owned about 0.06% of Forma Therapeutics worth $195,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Swiss National Bank grew its stake in Forma Therapeutics by 99.2% during the 2nd quarter. Swiss National Bank now owns 78,300 shares of the company’s stock worth $539,000 after buying an additional 39,000 shares during the last quarter. Integral Health Asset Management LLC grew its stake in Forma Therapeutics by 44.5% during the 2nd quarter. Integral Health Asset Management LLC now owns 130,051 shares of the company’s stock worth $896,000 after buying an additional 40,051 shares during the last quarter. Pinnacle Wealth Planning Services Inc. purchased a new position in Forma Therapeutics during the 2nd quarter worth approximately $87,000. Russell Investments Group Ltd. grew its stake in Forma Therapeutics by 480.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 106,101 shares of the company’s stock worth $730,000 after buying an additional 87,827 shares during the last quarter. Finally, Gryphon Financial Partners LLC purchased a new position in Forma Therapeutics during the 2nd quarter worth approximately $131,000. Hedge funds and other institutional investors own 87.39% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on FMTX. Oppenheimer downgraded Forma Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 1st. HC Wainwright cut Forma Therapeutics from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $53.00 to $20.00 in a research report on Friday, September 2nd. Cantor Fitzgerald cut Forma Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Thursday, September 1st. Credit Suisse Group cut Forma Therapeutics from an “outperform” rating to a “neutral” rating and set a $20.00 price objective for the company. in a research report on Friday, September 2nd. Finally, Jefferies Financial Group cut Forma Therapeutics from a “buy” rating to a “hold” rating and reduced their price target for the company from $28.00 to $20.00 in a report on Friday, September 2nd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $29.17.

Forma Therapeutics Stock Performance

Shares of FMTX stock opened at $20.01 on Thursday. The stock has a fifty day moving average price of $19.98 and a 200 day moving average price of $13.01. The stock has a market cap of $957.54 million, a PE ratio of -5.00 and a beta of -0.94. Forma Therapeutics Holdings, Inc. has a 1 year low of $4.95 and a 1 year high of $20.68.

Forma Therapeutics Profile

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

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