Eventide Asset Management LLC Decreases Position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Eventide Asset Management LLC reduced its position in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 52.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 422,856 shares of the company’s stock after selling 458,301 shares during the period. Eventide Asset Management LLC’s holdings in 4D Molecular Therapeutics were worth $4,571,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. nVerses Capital LLC acquired a new stake in shares of 4D Molecular Therapeutics in the third quarter worth approximately $40,000. Values First Advisors Inc. acquired a new stake in 4D Molecular Therapeutics during the 3rd quarter worth $57,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of 4D Molecular Therapeutics by 64.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,995 shares of the company’s stock worth $108,000 after buying an additional 3,922 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of 4D Molecular Therapeutics in the third quarter valued at about $108,000. Finally, Quest Partners LLC lifted its stake in shares of 4D Molecular Therapeutics by 17,409.1% in the second quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock worth $121,000 after buying an additional 5,745 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

Wall Street Analysts Forecast Growth

FDMT has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. Chardan Capital reaffirmed a “buy” rating and issued a $39.00 price target on shares of 4D Molecular Therapeutics in a 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. Leerink Partners reaffirmed an “outperform” rating and issued a $36.00 target price (down from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. Finally, Morgan Stanley initiated coverage on shares of 4D Molecular Therapeutics in a research report on Thursday, November 21st. They set an “underweight” rating and a $8.00 price target on the stock. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.13.

4D Molecular Therapeutics Stock Down 0.4 %

NASDAQ:FDMT opened at $7.84 on Friday. 4D Molecular Therapeutics, Inc. has a 52 week low of $7.32 and a 52 week high of $36.25. The stock’s fifty day moving average is $8.83 and its two-hundred day moving average is $15.89. The company has a market capitalization of $362.44 million, a P/E ratio of -2.75 and a beta of 2.82.

4D Molecular Therapeutics 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.