15,341 Shares in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. purchased a new stake in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 15,341 shares of the company’s stock, valued at approximately $166,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its stake in shares of 4D Molecular Therapeutics by 238.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,543,414 shares of the company’s stock valued at $16,684,000 after buying an additional 1,087,147 shares during the last quarter. Novo Holdings A S grew its position in 4D Molecular Therapeutics by 7.1% in the 3rd quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock valued at $16,215,000 after acquiring an additional 100,000 shares during the last quarter. Braidwell LP increased its stake in 4D Molecular Therapeutics by 231.7% in the third quarter. Braidwell LP now owns 1,225,448 shares of the company’s stock worth $13,247,000 after purchasing an additional 855,990 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in 4D Molecular Therapeutics by 10.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 706,000 shares of the company’s stock worth $14,819,000 after purchasing an additional 65,000 shares during the period. Finally, Panagora Asset Management Inc. grew its holdings in shares of 4D Molecular Therapeutics by 247.7% in the second quarter. Panagora Asset Management Inc. now owns 354,857 shares of the company’s stock worth $7,448,000 after purchasing an additional 252,789 shares during the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

4D Molecular Therapeutics Price Performance

FDMT opened at $6.50 on Friday. The firm has a market capitalization of $300.48 million, a PE ratio of -2.28 and a beta of 2.74. The business’s 50-day moving average is $8.09 and its two-hundred day moving average is $14.61. 4D Molecular Therapeutics, Inc. has a 1 year low of $6.41 and a 1 year high of $36.25.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FDMT. Morgan Stanley started coverage on shares of 4D Molecular Therapeutics in a report on Thursday, November 21st. They set an “underweight” rating and a $8.00 price objective for the company. Leerink Partners reissued 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. Royal Bank of Canada decreased their target price on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, November 14th. Cantor Fitzgerald lowered 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, September 23rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.13.

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.