Bank of America Issues Pessimistic Forecast for 4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price

4D Molecular Therapeutics (NASDAQ:FDMT) had its target price lowered by investment analysts at Bank of America from $42.00 to $40.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Several other research analysts also recently issued reports on FDMT. Chardan Capital reduced their price target on shares of 4D Molecular Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Leerink Partners cut their price target on shares of 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Weiss Ratings restated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a report on Friday. BMO Capital Markets cut shares of 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $40.00 to $15.00 in a research report on Monday, January 13th. Finally, Morgan Stanley decreased their price target on shares of 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating for the company in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.63.

4D Molecular Therapeutics Stock Performance

Shares of FDMT traded down $0.18 during trading hours on Monday, hitting $3.90. 374,849 shares of the company were exchanged, compared to its average volume of 797,458. The firm’s 50 day moving average is $5.05 and its 200-day moving average is $8.17. The company has a market cap of $180.35 million, a PE ratio of -1.37 and a beta of 2.83. 4D Molecular Therapeutics has a 52 week low of $3.90 and a 52 week high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its earnings results on Friday, February 28th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.10). As a group, equities analysts forecast that 4D Molecular Therapeutics will post -2.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Large investors have recently bought and sold shares of the stock. Barclays PLC lifted its holdings in shares of 4D Molecular Therapeutics by 141.0% in the 3rd quarter. Barclays PLC now owns 114,848 shares of the company’s stock worth $1,241,000 after purchasing an additional 67,202 shares in the last quarter. Braidwell LP lifted its position in shares of 4D Molecular Therapeutics by 231.7% during the 3rd quarter. Braidwell LP now owns 1,225,448 shares of the company’s stock worth $13,247,000 after buying an additional 855,990 shares in the last quarter. State Street Corp lifted 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 acquiring an additional 37,232 shares during the period. Redmile Group LLC raised its stake in shares of 4D Molecular Therapeutics by 17.6% during the 3rd quarter. Redmile Group LLC now owns 1,262,090 shares of the company’s stock worth $13,643,000 after purchasing an additional 188,655 shares during the period. Finally, Rhumbline Advisers boosted its stake in 4D Molecular Therapeutics by 5.3% in the fourth quarter. Rhumbline Advisers now owns 73,431 shares of the company’s stock valued at $409,000 after acquiring an additional 3,675 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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.