4D Molecular Therapeutics’ (FDMT) Sell (D-) Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their sell (d-) rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research note released on Tuesday morning,Weiss Ratings reports.

FDMT has been the topic of several other research reports. Chardan Capital lowered 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. HC Wainwright reissued a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Monday, March 3rd. Royal Bank of Canada reduced their price target on shares of 4D Molecular Therapeutics from $39.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. BMO Capital Markets cut 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $40.00 to $15.00 in a report on Monday, January 13th. Finally, Bank of America reduced their target price on 4D Molecular Therapeutics from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.71.

4D Molecular Therapeutics Trading Down 6.2 %

Shares of NASDAQ FDMT opened at $2.59 on Tuesday. The stock has a market cap of $119.92 million, a PE ratio of -0.91 and a beta of 2.89. 4D Molecular Therapeutics has a 12-month low of $2.24 and a 12-month high of $28.93. The company has a 50-day moving average of $4.10 and a 200 day moving average of $6.19.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings results on Friday, February 28th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.10). On average, sell-side analysts forecast that 4D Molecular Therapeutics will post -2.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new position in 4D Molecular Therapeutics during the 4th quarter worth about $48,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of 4D Molecular Therapeutics during the fourth quarter worth about $50,000. PNC Financial Services Group Inc. boosted its stake in shares of 4D Molecular Therapeutics by 66.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,124 shares of the company’s stock valued at $51,000 after purchasing an additional 3,630 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of 4D Molecular Therapeutics by 5,291.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 9,921 shares of the company’s stock valued at $55,000 after purchasing an additional 9,737 shares during the period. Finally, Velan Capital Investment Management LP purchased a new stake in 4D Molecular Therapeutics during the 4th quarter worth approximately $56,000. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

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.