Rhumbline Advisers Raises Stock Position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Rhumbline Advisers raised its stake in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 5.3% during the fourth quarter, Holdings Channel reports. The firm owned 73,431 shares of the company’s stock after buying an additional 3,675 shares during the quarter. Rhumbline Advisers’ holdings in 4D Molecular Therapeutics were worth $409,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp grew its position in shares of 4D Molecular Therapeutics by 1.8% in 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 period. Redmile Group LLC grew its position in shares of 4D Molecular Therapeutics by 17.6% in the 3rd 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. Braidwell LP grew its position in shares of 4D Molecular Therapeutics by 231.7% in the 3rd quarter. Braidwell LP now owns 1,225,448 shares of the company’s stock worth $13,247,000 after buying an additional 855,990 shares during the period. Peapod Lane Capital LLC purchased a new stake in shares of 4D Molecular Therapeutics in the 4th quarter worth about $806,000. Finally, Barclays PLC grew its position in shares of 4D Molecular Therapeutics by 141.0% in the 3rd quarter. Barclays PLC now owns 114,848 shares of the company’s stock worth $1,241,000 after buying an additional 67,202 shares during the period. 99.27% of the stock is owned by hedge funds and other institutional investors.

4D Molecular Therapeutics Stock Performance

FDMT opened at $4.07 on Friday. The stock has a market capitalization of $188.45 million, a P/E ratio of -1.43 and a beta of 2.83. The company’s 50-day simple moving average is $5.05 and its two-hundred day simple moving average is $8.22. 4D Molecular Therapeutics, Inc. has a 52-week low of $3.92 and a 52-week high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its earnings results on Friday, February 28th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.10). Research analysts forecast that 4D Molecular Therapeutics, Inc. will post -2.84 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Chardan Capital reduced their target price on shares of 4D Molecular Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Morgan Stanley reduced their target price on shares of 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating on the stock in a research report on Monday, January 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research note on Friday. Royal Bank of Canada dropped their price target on shares of 4D Molecular Therapeutics from $39.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Finally, Leerink Partners dropped their price target on shares of 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.38.

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.