4D Molecular Therapeutics (NASDAQ:FDMT) Given New $6.00 Price Target at Morgan Stanley

4D Molecular Therapeutics (NASDAQ:FDMT) had its target price reduced by stock analysts at Morgan Stanley from $8.00 to $6.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 25.00% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Monday. Chardan Capital reiterated a “buy” rating and set a $39.00 price target on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. BMO Capital Markets lowered 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $40.00 to $15.00 in a report on Monday. 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. Finally, Royal Bank of Canada reduced their price target on shares of 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.56.

4D Molecular Therapeutics Price Performance

FDMT traded down $0.72 during trading on Monday, reaching $4.80. 528,240 shares of the stock traded hands, compared to its average volume of 682,908. The stock has a market cap of $221.89 million, a price-to-earnings ratio of -1.68 and a beta of 2.81. 4D Molecular Therapeutics has a fifty-two week low of $4.68 and a fifty-two week high of $36.25. The stock’s 50-day simple moving average is $7.00 and its two-hundred day simple moving average is $11.99.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new stake in shares of 4D Molecular Therapeutics in the third quarter valued at about $40,000. Values First Advisors Inc. acquired a new stake in 4D Molecular Therapeutics during the 3rd quarter valued at $57,000. China Universal Asset Management Co. Ltd. raised its holdings in 4D Molecular Therapeutics by 64.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,995 shares of the company’s stock valued at $108,000 after acquiring an additional 3,922 shares during the period. Proficio Capital Partners LLC acquired a new stake in 4D Molecular Therapeutics during the 3rd quarter worth approximately $108,000. Finally, Quest Partners LLC lifted its holdings in shares of 4D Molecular Therapeutics by 17,409.1% during the second quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock worth $121,000 after buying an additional 5,745 shares in the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

About 4D Molecular Therapeutics

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.