State Street Corp Purchases 37,232 Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

State Street Corp grew its position in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 1.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 2,116,508 shares of the company’s stock after acquiring an additional 37,232 shares during the period. State Street Corp’s holdings in 4D Molecular Therapeutics were worth $22,879,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in 4D Molecular Therapeutics by 9.6% in the second quarter. Principal Financial Group Inc. now owns 21,034 shares of the company’s stock worth $442,000 after purchasing an additional 1,849 shares during the period. Algert Global LLC boosted its holdings in shares of 4D Molecular Therapeutics by 20.6% during the 2nd quarter. Algert Global LLC now owns 16,588 shares of the company’s stock valued at $348,000 after buying an additional 2,828 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of 4D Molecular Therapeutics during the 3rd quarter valued at $40,000. The Manufacturers Life Insurance Company grew its position in shares of 4D Molecular Therapeutics by 25.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,975 shares of the company’s stock worth $398,000 after buying an additional 3,850 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of 4D Molecular Therapeutics by 64.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,995 shares of the company’s stock worth $108,000 after acquiring an additional 3,922 shares in the last quarter. Institutional investors own 99.27% of the company’s stock.

4D Molecular Therapeutics Price Performance

FDMT stock opened at $6.31 on Monday. The stock has a market capitalization of $291.70 million, a P/E ratio of -2.21 and a beta of 2.74. 4D Molecular Therapeutics, Inc. has a 1-year low of $5.58 and a 1-year high of $36.25. The business has a fifty day moving average price of $7.79 and a 200-day moving average price of $13.90.

Analysts Set New Price Targets

Several research firms recently commented on FDMT. Cantor Fitzgerald lowered shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, September 23rd. HC Wainwright reissued a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research report on Thursday, November 14th. Bank of America cut their price target on 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Royal Bank of Canada lowered their price objective 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. Finally, Morgan Stanley assumed coverage on 4D Molecular Therapeutics in a research note on Thursday, November 21st. They issued an “underweight” rating and a $8.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, 4D Molecular Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $42.56.

4D Molecular Therapeutics 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.