4D Molecular Therapeutics (NASDAQ:FDMT) Stock Rating Lowered by BMO Capital Markets

4D Molecular Therapeutics (NASDAQ:FDMT) was downgraded by investment analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report issued on Monday,Briefing.com Automated Import reports. They currently have a $15.00 price target on the stock, down from their previous price target of $40.00. BMO Capital Markets’ target price would suggest a potential upside of 171.74% from the company’s current price.

Other analysts have also issued research reports about the stock. Cantor Fitzgerald lowered shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, September 23rd. Leerink Partners reiterated an “outperform” rating and issued a $36.00 target price (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th. Royal Bank of Canada dropped their target price on shares of 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, November 14th. Bank of America lowered their price target on shares of 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Finally, HC Wainwright restated a “buy” rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a research report on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, 4D Molecular Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $39.78.

4D Molecular Therapeutics Stock Down 5.5 %

Shares of NASDAQ FDMT opened at $5.52 on Monday. The company’s 50-day simple moving average is $7.00 and its 200-day simple moving average is $11.99. 4D Molecular Therapeutics has a 52-week low of $5.22 and a 52-week high of $36.25. The firm has a market cap of $255.18 million, a price-to-earnings ratio of -1.94 and a beta of 2.81.

Hedge Funds Weigh In On 4D Molecular Therapeutics

A number of institutional investors have recently bought and sold shares of the company. Algert Global LLC raised its stake in 4D Molecular Therapeutics by 20.6% during the second quarter. Algert Global LLC now owns 16,588 shares of the company’s stock worth $348,000 after purchasing an additional 2,828 shares during the period. nVerses Capital LLC purchased a new position in 4D Molecular Therapeutics during the third quarter worth about $40,000. The Manufacturers Life Insurance Company raised its stake in 4D Molecular Therapeutics by 25.5% during the second quarter. The Manufacturers Life Insurance Company now owns 18,975 shares of the company’s stock worth $398,000 after purchasing an additional 3,850 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in 4D Molecular Therapeutics by 64.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,995 shares of the company’s stock worth $108,000 after purchasing an additional 3,922 shares during the period. Finally, Values First Advisors Inc. purchased a new position in 4D Molecular Therapeutics during the third quarter worth about $57,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

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.