4D Molecular Therapeutics (NASDAQ:FDMT) Price Target Lowered to $39.00 at Royal Bank of Canada

4D Molecular Therapeutics (NASDAQ:FDMT) had its price objective cut by equities research analysts at Royal Bank of Canada from $40.00 to $39.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 341.68% from the company’s current price.

Several other equities analysts have also weighed in on the company. BMO Capital Markets cut their target price on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, July 18th. Chardan Capital lifted their price objective on shares of 4D Molecular Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Leerink Partners restated an “outperform” rating and set a $36.00 price objective (down previously from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. Finally, Cantor Fitzgerald lowered shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, September 23rd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, 4D Molecular Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $47.00.

4D Molecular Therapeutics Stock Performance

Shares of 4D Molecular Therapeutics stock opened at $8.83 on Thursday. The firm has a fifty day moving average of $10.30 and a two-hundred day moving average of $17.13. The stock has a market capitalization of $458.90 million, a price-to-earnings ratio of -3.10 and a beta of 2.82. 4D Molecular Therapeutics has a 52 week low of $7.32 and a 52 week high of $36.25.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Several institutional investors have recently added to or reduced their stakes in FDMT. Entropy Technologies LP bought a new position in 4D Molecular Therapeutics during the 1st quarter worth about $239,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of 4D Molecular Therapeutics by 10.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 706,000 shares of the company’s stock worth $14,819,000 after buying an additional 65,000 shares in the last quarter. Kennedy Capital Management LLC acquired a new stake in 4D Molecular Therapeutics in the 1st quarter valued at approximately $4,358,000. Sofinnova Investments Inc. lifted its stake in 4D Molecular Therapeutics by 36.8% in the 2nd quarter. Sofinnova Investments Inc. now owns 271,155 shares of the company’s stock valued at $5,692,000 after acquiring an additional 72,969 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in 4D Molecular Therapeutics by 702.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock worth $110,000 after acquiring an additional 3,026 shares during the last quarter. 99.27% of the stock is owned by institutional investors.

4D Molecular Therapeutics Company Profile

4D Molecular Therapeutics, Inc, a clinical-stage biotherapeutics company, develops genetic medicines using its therapeutic vector evolution platform in the Netherland and the United States. The company develops a portfolio of genetic medicine product candidates focuses in three therapeutic areas for ophthalmology, cardiology, and pulmonology.