4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $26.71.

Several research analysts recently commented on the company. Royal Bank of Canada reduced their price objective on 4D Molecular Therapeutics from $39.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research report on Tuesday, April 8th. Bank of America cut their target price on shares of 4D Molecular Therapeutics from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. 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 stock from $40.00 to $15.00 in a report on Monday, January 13th. Finally, Morgan Stanley reduced their price objective on 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.

4D Molecular Therapeutics Trading Up 11.5 %

FDMT opened at $3.10 on Friday. 4D Molecular Therapeutics has a 12-month low of $2.24 and a 12-month high of $28.93. The firm has a 50 day moving average of $3.90 and a two-hundred day moving average of $6.02. The firm has a market capitalization of $143.54 million, a PE ratio of -1.09 and a beta of 2.89.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FDMT. Vanguard Group Inc. raised its stake in shares of 4D Molecular Therapeutics by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 2,860,508 shares of the company’s stock worth $15,933,000 after buying an additional 92,791 shares during the last quarter. State Street Corp boosted its position in 4D Molecular Therapeutics by 1.8% during the 3rd quarter. State Street Corp now owns 2,116,508 shares of the company’s stock worth $22,879,000 after purchasing an additional 37,232 shares during the period. Millennium Management LLC lifted its position in 4D Molecular Therapeutics by 1,607.1% during the 4th quarter. Millennium Management LLC now owns 1,420,723 shares of the company’s stock worth $7,913,000 after acquiring an additional 1,337,497 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of 4D Molecular Therapeutics by 159.5% during the fourth quarter. JPMorgan Chase & Co. now owns 820,069 shares of the company’s stock worth $4,568,000 after acquiring an additional 504,086 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of 4D Molecular Therapeutics in the 4th quarter worth about $2,790,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

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.