4D Molecular Therapeutics (NASDAQ:FDMT) Given New $46.00 Price Target at Bank of America

4D Molecular Therapeutics (NASDAQ:FDMT) had its target price lowered by analysts at Bank of America from $79.00 to $46.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Other equities analysts have also issued reports about the company. Morgan Stanley initiated coverage on 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. Chardan Capital reaffirmed a “buy” rating and issued a $39.00 target price on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. Cantor Fitzgerald lowered shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, September 23rd. Royal Bank of Canada decreased 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, November 14th. Finally, Leerink Partners reiterated an “outperform” rating and set a $36.00 target price (down from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $42.56.

4D Molecular Therapeutics Stock Down 2.5 %

4D Molecular Therapeutics stock opened at $6.32 on Wednesday. The firm has a fifty day simple moving average of $7.97 and a two-hundred day simple moving average of $14.22. 4D Molecular Therapeutics has a twelve month low of $6.28 and a twelve month high of $36.25. The company has a market capitalization of $292.16 million, a PE ratio of -2.22 and a beta of 2.74.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of 4D Molecular Therapeutics by 1.8% in 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 in the last quarter. Assenagon Asset Management S.A. increased its holdings in 4D Molecular Therapeutics by 238.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,543,414 shares of the company’s stock worth $16,684,000 after buying an additional 1,087,147 shares in the last quarter. Novo Holdings A S raised its position in 4D Molecular Therapeutics by 7.1% in the 3rd quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock worth $16,215,000 after buying an additional 100,000 shares during the last quarter. Redmile Group LLC lifted its stake in 4D Molecular Therapeutics by 17.6% during the 3rd quarter. Redmile Group LLC now owns 1,262,090 shares of the company’s stock valued at $13,643,000 after acquiring an additional 188,655 shares during the period. Finally, Braidwell LP lifted its stake in 4D Molecular Therapeutics by 231.7% during the 3rd quarter. Braidwell LP now owns 1,225,448 shares of the company’s stock valued at $13,247,000 after acquiring an additional 855,990 shares during the period. 99.27% of the stock is owned by institutional investors.

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.