4D Molecular Therapeutics’ (FDMT) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a report published on Thursday morning,Benzinga reports. The brokerage currently has a $36.00 price objective on the stock.

A number of other analysts have also recently weighed in on FDMT. Chardan Capital raised their price objective on 4D Molecular Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Royal Bank of Canada lowered their target price on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday. Cantor Fitzgerald lowered shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, September 23rd. Leerink Partners reiterated an “outperform” rating and set a $36.00 target price (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th. Finally, BMO Capital Markets reduced their target price on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

4D Molecular Therapeutics Stock Up 10.1 %

NASDAQ FDMT opened at $8.83 on Thursday. 4D Molecular Therapeutics has a 52 week low of $7.32 and a 52 week high of $36.25. The company has a 50 day moving average price of $10.30 and a 200 day moving average price of $17.03. The firm has a market cap of $408.21 million, a PE ratio of -3.10 and a beta of 2.82.

Hedge Funds Weigh In On 4D Molecular Therapeutics

A number of institutional investors have recently bought and sold shares of FDMT. Allspring Global Investments Holdings LLC increased its holdings in shares of 4D Molecular Therapeutics by 702.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock worth $110,000 after buying an additional 3,026 shares during the last quarter. nVerses Capital LLC purchased a new position in 4D Molecular Therapeutics in the third quarter worth approximately $40,000. Values First Advisors Inc. acquired a new stake in 4D Molecular Therapeutics during the third quarter worth $57,000. Quest Partners LLC raised its position in 4D Molecular Therapeutics by 17,409.1% in the second quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock valued at $121,000 after purchasing an additional 5,745 shares during the period. Finally, Entropy Technologies LP acquired a new position in shares of 4D Molecular Therapeutics in the 1st quarter valued at $239,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

About 4D Molecular Therapeutics

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.