4D Molecular Therapeutics (NASDAQ:FDMT) Receives Buy Rating from HC Wainwright

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

Several other analysts have also recently issued reports on FDMT. Leerink Partners reaffirmed 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. Cantor Fitzgerald lowered 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, September 23rd. Chardan Capital boosted their target price on shares of 4D Molecular Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. BMO Capital Markets lowered their price target on shares of 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, July 18th. Finally, Royal Bank of Canada reduced their price objective on shares of 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $47.00.

4D Molecular Therapeutics Price Performance

Shares of NASDAQ:FDMT traded up $0.99 during trading hours on Thursday, hitting $9.01. The company’s stock had a trading volume of 862,469 shares, compared to its average volume of 890,531. The firm’s fifty day moving average price is $10.43 and its 200 day moving average price is $17.24. 4D Molecular Therapeutics has a 52 week low of $7.32 and a 52 week high of $36.25. The company has a market capitalization of $468.25 million, a price-to-earnings ratio of -3.16 and a beta of 2.82.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FDMT. Redmile Group LLC increased 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 valued at $13,643,000 after acquiring an additional 188,655 shares during the period. Point72 Asset Management L.P. purchased a new stake in 4D Molecular Therapeutics during the 3rd quarter valued at about $166,000. Braidwell LP increased its holdings in shares of 4D Molecular Therapeutics by 231.7% in the third quarter. Braidwell LP now owns 1,225,448 shares of the company’s stock valued at $13,247,000 after purchasing an additional 855,990 shares during the period. Walleye Capital LLC purchased a new position in shares of 4D Molecular Therapeutics in the third quarter worth about $912,000. Finally, Algert Global LLC lifted its holdings in shares of 4D Molecular Therapeutics by 342.7% during the third quarter. Algert Global LLC now owns 73,436 shares of the company’s stock worth $794,000 after purchasing an additional 56,848 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.