HC Wainwright Reaffirms “Buy” Rating for 4D Molecular Therapeutics (NASDAQ:FDMT)

4D Molecular Therapeutics (NASDAQ:FDMT)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $36.00 price target on the stock.

Several other equities analysts also recently issued reports on FDMT. Leerink Partners restated an “outperform” rating and issued a $36.00 price objective (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. Morgan Stanley initiated coverage on 4D Molecular Therapeutics in a research report on Thursday, November 21st. They issued an “underweight” rating and a $8.00 target price for the company. Cantor Fitzgerald downgraded 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, September 23rd. Chardan Capital reiterated a “buy” rating and issued a $39.00 price objective on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. Finally, Royal Bank of Canada lowered their target price on shares of 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.56.

4D Molecular Therapeutics Trading Up 2.5 %

Shares of 4D Molecular Therapeutics stock opened at $4.88 on Monday. The company has a fifty day simple moving average of $6.87 and a 200-day simple moving average of $11.77. The stock has a market cap of $225.59 million, a price-to-earnings ratio of -1.71 and a beta of 2.81. 4D Molecular Therapeutics has a 12-month low of $4.68 and a 12-month high of $36.25.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Several large investors have recently modified their holdings of FDMT. Marquette Asset Management LLC acquired a new position in 4D Molecular Therapeutics in the 4th quarter valued at $116,000. Barclays PLC boosted its holdings in shares of 4D Molecular Therapeutics by 141.0% in the third quarter. Barclays PLC now owns 114,848 shares of the company’s stock valued at $1,241,000 after acquiring an additional 67,202 shares in the last quarter. Y Intercept Hong Kong Ltd increased its stake in shares of 4D Molecular Therapeutics by 81.3% during the third quarter. Y Intercept Hong Kong Ltd now owns 24,538 shares of the company’s stock worth $265,000 after acquiring an additional 11,002 shares during the period. State Street Corp raised its holdings in 4D Molecular Therapeutics by 1.8% during the third quarter. State Street Corp now owns 2,116,508 shares of the company’s stock worth $22,879,000 after purchasing an additional 37,232 shares in the last quarter. Finally, Redmile Group LLC lifted its position in 4D Molecular Therapeutics by 17.6% in the third quarter. Redmile Group LLC now owns 1,262,090 shares of the company’s stock valued at $13,643,000 after purchasing an additional 188,655 shares during the period. 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.