Daiwa Securities Group Inc. Purchases 9,737 Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Daiwa Securities Group Inc. boosted its position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 5,291.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,921 shares of the company’s stock after acquiring an additional 9,737 shares during the quarter. Daiwa Securities Group Inc.’s holdings in 4D Molecular Therapeutics were worth $55,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its stake in 4D Molecular Therapeutics by 1.8% in the third quarter. State Street Corp now owns 2,116,508 shares of the company’s stock valued at $22,879,000 after acquiring an additional 37,232 shares during the last quarter. Redmile Group LLC grew its stake in shares of 4D Molecular Therapeutics by 17.6% during the third quarter. Redmile Group LLC now owns 1,262,090 shares of the company’s stock worth $13,643,000 after buying an additional 188,655 shares during the last quarter. Braidwell LP grew its stake in shares of 4D Molecular Therapeutics by 231.7% during the third quarter. Braidwell LP now owns 1,225,448 shares of the company’s stock worth $13,247,000 after buying an additional 855,990 shares during the last quarter. Peapod Lane Capital LLC bought a new stake in shares of 4D Molecular Therapeutics during the fourth quarter worth $806,000. Finally, Barclays PLC grew its stake in shares of 4D Molecular Therapeutics by 141.0% during the third quarter. Barclays PLC now owns 114,848 shares of the company’s stock worth $1,241,000 after buying an additional 67,202 shares during the last quarter. 99.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FDMT has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research note on Friday, March 7th. Morgan Stanley decreased their target price on shares of 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. BMO Capital Markets cut shares of 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $40.00 to $15.00 in a research note on Monday, January 13th. HC Wainwright reissued a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Monday, March 3rd. Finally, Chardan Capital reduced their price objective on shares of 4D Molecular Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.63.

4D Molecular Therapeutics Stock Up 1.7 %

FDMT stock opened at $4.18 on Tuesday. The firm has a market cap of $193.54 million, a price-to-earnings ratio of -1.47 and a beta of 2.83. 4D Molecular Therapeutics, Inc. has a 12-month low of $3.73 and a 12-month high of $36.25. The company’s fifty day simple moving average is $4.86 and its 200 day simple moving average is $7.70.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its earnings results 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). Research analysts expect that 4D Molecular Therapeutics, Inc. will post -2.84 earnings per share for the current year.

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.