4D Molecular Therapeutics (NASDAQ:FDMT) Price Target Cut to $6.00 by Analysts at Morgan Stanley

4D Molecular Therapeutics (NASDAQ:FDMT) had its price objective trimmed by Morgan Stanley from $8.00 to $6.00 in a report published on Monday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other research firms have also commented on FDMT. Royal Bank of Canada lowered their price target on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, November 14th. BMO Capital Markets lowered 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $40.00 to $15.00 in a research report on Monday. Cantor Fitzgerald lowered 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, September 23rd. Chardan Capital reissued a “buy” rating and issued a $39.00 target price on shares of 4D Molecular Therapeutics in a research report on Thursday, November 14th. Finally, Bank of America decreased their target price on 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, 4D Molecular Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $38.56.

4D Molecular Therapeutics Price Performance

FDMT opened at $4.76 on Monday. The business has a 50 day simple moving average of $6.94 and a two-hundred day simple moving average of $11.88. The firm has a market capitalization of $220.05 million, a price-to-earnings ratio of -1.67 and a beta of 2.81. 4D Molecular Therapeutics has a one year low of $4.68 and a one year high of $36.25.

Institutional Trading of 4D Molecular Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Algert Global LLC grew its stake in shares of 4D Molecular Therapeutics by 20.6% in the 2nd quarter. Algert Global LLC now owns 16,588 shares of the company’s stock worth $348,000 after buying an additional 2,828 shares during the last quarter. nVerses Capital LLC purchased a new stake in 4D Molecular Therapeutics during the 3rd quarter valued at $40,000. The Manufacturers Life Insurance Company boosted its stake in 4D Molecular Therapeutics by 25.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,975 shares of the company’s stock valued at $398,000 after purchasing an additional 3,850 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in 4D Molecular Therapeutics by 64.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,995 shares of the company’s stock valued at $108,000 after purchasing an additional 3,922 shares during the last quarter. Finally, Values First Advisors Inc. purchased a new stake in 4D Molecular Therapeutics during the 3rd quarter valued at $57,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

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.