4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Shares Purchased by M&T Bank Corp

M&T Bank Corp raised its holdings in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 98.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 37,487 shares of the company’s stock after purchasing an additional 18,639 shares during the quarter. M&T Bank Corp’s holdings in 4D Molecular Therapeutics were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC boosted its holdings in 4D Molecular Therapeutics by 100.0% in the 4th quarter. Proficio Capital Partners LLC now owns 20,000 shares of the company’s stock valued at $111,000 after purchasing an additional 10,000 shares in the last quarter. Marquette Asset Management LLC purchased a new stake in 4D Molecular Therapeutics in the 4th quarter valued at approximately $116,000. Point72 Asset Management L.P. purchased a new stake in 4D Molecular Therapeutics in the 3rd quarter valued at approximately $166,000. Y Intercept Hong Kong Ltd boosted its holdings in 4D Molecular Therapeutics by 81.3% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 24,538 shares of the company’s stock valued at $265,000 after purchasing an additional 11,002 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in 4D Molecular Therapeutics in the 3rd quarter valued at approximately $268,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

4D Molecular Therapeutics Price Performance

Shares of 4D Molecular Therapeutics stock opened at $4.11 on Friday. 4D Molecular Therapeutics, Inc. has a 1 year low of $3.73 and a 1 year high of $36.25. The company has a market capitalization of $190.30 million, a P/E ratio of -1.44 and a beta of 2.83. The business has a 50 day moving average price of $4.90 and a 200 day moving average price of $7.83.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its quarterly earnings data on Friday, February 28th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.10). As a group, research analysts expect that 4D Molecular Therapeutics, Inc. will post -2.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Bank of America lowered their price objective on 4D Molecular Therapeutics from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, March 10th. HC Wainwright reissued a “buy” rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Monday, March 3rd. Morgan Stanley decreased their price target on 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada decreased their price target on 4D Molecular Therapeutics from $39.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Finally, Leerink Partners decreased their price target on 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.63.

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.