4D Molecular Therapeutics (NASDAQ:FDMT) Given Buy Rating at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a report published on Thursday morning,Benzinga reports. Chardan Capital currently has a $39.00 target price on the stock.

Several other research firms have also weighed in on FDMT. HC Wainwright reiterated a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Thursday. Leerink Partners reaffirmed an “outperform” rating and issued a $36.00 price target (down from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. Royal Bank of Canada cut their price objective on shares of 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday. BMO Capital Markets decreased their target price on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, July 18th. Finally, Cantor Fitzgerald lowered 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, September 23rd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

4D Molecular Therapeutics Price Performance

NASDAQ FDMT opened at $8.83 on Thursday. 4D Molecular Therapeutics has a one year low of $7.32 and a one year high of $36.25. The business has a 50 day simple moving average of $10.30 and a 200 day simple moving average of $17.03. The stock has a market capitalization of $408.21 million, a P/E ratio of -3.10 and a beta of 2.82.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of 4D Molecular Therapeutics by 6.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,952 shares of the company’s stock valued at $764,000 after purchasing an additional 1,356 shares in the last quarter. Principal Financial Group Inc. lifted its stake in 4D Molecular Therapeutics by 9.6% during the 2nd quarter. Principal Financial Group Inc. now owns 21,034 shares of the company’s stock valued at $442,000 after acquiring an additional 1,849 shares in the last quarter. Algert Global LLC boosted its holdings in 4D Molecular Therapeutics by 20.6% during the 2nd quarter. Algert Global LLC now owns 16,588 shares of the company’s stock worth $348,000 after acquiring an additional 2,828 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of 4D Molecular Therapeutics by 702.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock worth $110,000 after acquiring an additional 3,026 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of 4D Molecular Therapeutics by 12.6% in the first quarter. California State Teachers Retirement System now owns 28,490 shares of the company’s stock valued at $908,000 after purchasing an additional 3,197 shares during the last quarter. 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.