Brokerages Set 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) PT at $42.13

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) has been assigned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $42.13.

FDMT has been the subject of several recent research reports. Cantor Fitzgerald cut 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, September 23rd. HC Wainwright reiterated a “buy” rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. Leerink Partners reissued an “outperform” rating and issued a $36.00 price objective (down from $40.00) on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th. Chardan Capital reaffirmed a “buy” rating and set a $39.00 price objective on shares of 4D Molecular Therapeutics in a research report on Thursday, November 14th. Finally, Morgan Stanley initiated coverage on 4D Molecular Therapeutics in a report on Thursday, November 21st. They issued an “underweight” rating and a $8.00 target price on the stock.

4D Molecular Therapeutics Trading Down 5.5 %

Shares of NASDAQ FDMT opened at $6.50 on Friday. The stock has a market cap of $300.48 million, a P/E ratio of -2.28 and a beta of 2.74. The business’s fifty day simple moving average is $8.09 and its 200-day simple moving average is $14.61. 4D Molecular Therapeutics has a 12-month low of $6.41 and a 12-month high of $36.25.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC grew its holdings in shares of 4D Molecular Therapeutics by 141.0% during the third quarter. Barclays PLC now owns 114,848 shares of the company’s stock worth $1,241,000 after purchasing an additional 67,202 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of 4D Molecular Therapeutics by 81.3% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 24,538 shares of the company’s stock valued at $265,000 after purchasing an additional 11,002 shares during the period. State Street Corp grew its stake in 4D Molecular Therapeutics by 1.8% during the 3rd quarter. State Street Corp now owns 2,116,508 shares of the company’s stock worth $22,879,000 after buying an additional 37,232 shares during the last quarter. Redmile Group LLC increased its position in 4D Molecular Therapeutics by 17.6% during the third quarter. Redmile Group LLC now owns 1,262,090 shares of the company’s stock worth $13,643,000 after buying an additional 188,655 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in 4D Molecular Therapeutics in the third quarter valued at approximately $166,000. 99.27% of the stock is owned by hedge funds and other 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.