4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) have been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $30.63.

A number of brokerages have recently commented on FDMT. Royal Bank of Canada cut their price target on 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. HC Wainwright reissued a “buy” rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Monday, March 3rd. Bank of America cut their price objective on 4D Molecular Therapeutics from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. BMO Capital Markets lowered 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $40.00 to $15.00 in a research note on Monday, January 13th. Finally, Leerink Partners cut their price objective on 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.

4D Molecular Therapeutics Stock Up 4.5 %

NASDAQ:FDMT opened at $3.92 on Monday. The stock’s 50-day simple moving average is $4.69 and its 200 day simple moving average is $7.49. 4D Molecular Therapeutics has a twelve month low of $3.58 and a twelve month high of $36.25. The firm has a market capitalization of $181.50 million, a PE ratio of -1.38 and a beta of 2.83.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its quarterly earnings results on Friday, February 28th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.10). On average, analysts anticipate that 4D Molecular Therapeutics will post -2.84 EPS for the current fiscal year.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of hedge funds have recently added to or reduced their stakes in FDMT. Millennium Management LLC increased its holdings in 4D Molecular Therapeutics by 1,607.1% in the fourth quarter. Millennium Management LLC now owns 1,420,723 shares of the company’s stock worth $7,913,000 after purchasing an additional 1,337,497 shares in the last quarter. Braidwell LP increased its holdings in shares of 4D Molecular Therapeutics by 231.7% during the third quarter. Braidwell LP now owns 1,225,448 shares of the company’s stock valued at $13,247,000 after acquiring an additional 855,990 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of 4D Molecular Therapeutics by 159.5% during the fourth quarter. JPMorgan Chase & Co. now owns 820,069 shares of the company’s stock valued at $4,568,000 after acquiring an additional 504,086 shares in the last quarter. Norges Bank bought a new stake in shares of 4D Molecular Therapeutics during the fourth quarter valued at approximately $2,790,000. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of 4D Molecular Therapeutics by 2,084.5% during the fourth quarter. Cubist Systematic Strategies LLC now owns 448,831 shares of the company’s stock valued at $2,500,000 after acquiring an additional 428,285 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors.

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.