4D Molecular Therapeutics (NASDAQ:FDMT) Price Target Cut to $27.00 by Analysts at Leerink Partners

4D Molecular Therapeutics (NASDAQ:FDMT) had its price target reduced by Leerink Partners from $31.00 to $27.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts also recently issued reports on the company. Chardan Capital restated a “buy” rating and issued a $39.00 price target on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. Cantor Fitzgerald downgraded 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, September 23rd. BMO Capital Markets downgraded 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $40.00 to $15.00 in a research note on Monday. Bank of America reduced their price target on 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada reduced their price target on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.56.

4D Molecular Therapeutics Trading Down 13.8 %

Shares of NASDAQ FDMT opened at $4.76 on Monday. 4D Molecular Therapeutics has a 12 month low of $4.68 and a 12 month high of $36.25. The stock has a 50 day moving average of $6.94 and a 200-day moving average of $11.88. The company has a market capitalization of $220.05 million, a P/E ratio of -1.67 and a beta of 2.81.

Institutional Trading of 4D Molecular Therapeutics

A number of institutional investors have recently modified their holdings of FDMT. Rhumbline Advisers raised its holdings in shares of 4D Molecular Therapeutics by 14.2% during the 2nd quarter. Rhumbline Advisers now owns 72,933 shares of the company’s stock worth $1,531,000 after buying an additional 9,062 shares in the last quarter. Quest Partners LLC raised its holdings in shares of 4D Molecular Therapeutics by 17,409.1% during the 2nd 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. American Century Companies Inc. acquired a new position in shares of 4D Molecular Therapeutics during the 2nd quarter worth $268,000. Parallel Advisors LLC raised its holdings in shares of 4D Molecular Therapeutics by 59,833.3% during the 2nd quarter. Parallel Advisors LLC now owns 19,778 shares of the company’s stock worth $415,000 after buying an additional 19,745 shares in the last quarter. Finally, Sofinnova Investments Inc. raised its holdings in shares of 4D Molecular Therapeutics by 36.8% during the 2nd quarter. Sofinnova Investments Inc. now owns 271,155 shares of the company’s stock worth $5,692,000 after buying an additional 72,969 shares in the last quarter. 99.27% of the stock is currently owned by 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.