4D Molecular Therapeutics (NASDAQ:FDMT) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $36.00 target price on the stock.

Several other research firms have also issued reports on FDMT. BMO Capital Markets lowered their target price on shares of 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. Cantor Fitzgerald lowered 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, September 23rd. Leerink Partners reiterated an “outperform” rating and issued a $36.00 price target (down from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. Chardan Capital boosted their price objective on 4D Molecular Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Royal Bank of Canada reduced their target price on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.00.

4D Molecular Therapeutics Stock Up 10.1 %

Shares of FDMT opened at $8.83 on Thursday. The business has a fifty day moving average of $10.30 and a 200 day moving average of $17.03. The company has a market cap of $408.21 million, a PE ratio of -3.10 and a beta of 2.82. 4D Molecular Therapeutics has a 52-week low of $7.32 and a 52-week high of $36.25.

Hedge Funds Weigh In On 4D Molecular Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Entropy Technologies LP purchased a new stake in 4D Molecular Therapeutics in the first quarter worth about $239,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of 4D Molecular Therapeutics by 10.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 706,000 shares of the company’s stock worth $14,819,000 after purchasing an additional 65,000 shares during the period. Kennedy Capital Management LLC purchased a new stake in shares of 4D Molecular Therapeutics in the 1st quarter worth approximately $4,358,000. Sofinnova Investments Inc. boosted its stake in shares of 4D Molecular Therapeutics by 36.8% during the second quarter. Sofinnova Investments Inc. now owns 271,155 shares of the company’s stock valued at $5,692,000 after purchasing an additional 72,969 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in 4D Molecular Therapeutics by 702.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock valued at $110,000 after buying an additional 3,026 shares during the period. Institutional investors own 99.27% of the company’s stock.

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.