4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Sees Significant Decrease in Short Interest

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) was the recipient of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 5,240,000 shares, a drop of 15.1% from the February 13th total of 6,170,000 shares. Approximately 12.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 906,600 shares, the short-interest ratio is currently 5.8 days.

Analysts Set New Price Targets

FDMT has been the topic of several research analyst reports. Morgan Stanley lowered 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. Bank of America lowered their price objective on shares of 4D Molecular Therapeutics from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Leerink Partners lowered their price objective on shares of 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. BMO Capital Markets cut shares of 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $40.00 to $15.00 in a research note on Monday, January 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research note on Friday, March 7th. One equities research 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 data from MarketBeat.com, 4D Molecular Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $30.63.

Institutional Trading of 4D Molecular Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in 4D Molecular Therapeutics in the third quarter valued at approximately $295,000. Intech Investment Management LLC bought a new position in shares of 4D Molecular Therapeutics in the third quarter valued at approximately $268,000. Algert Global LLC raised its position in shares of 4D Molecular Therapeutics by 342.7% in the third quarter. Algert Global LLC now owns 73,436 shares of the company’s stock valued at $794,000 after purchasing an additional 56,848 shares during the period. Walleye Capital LLC bought a new position in shares of 4D Molecular Therapeutics in the third quarter valued at approximately $912,000. Finally, Braidwell LP raised its position in shares of 4D Molecular Therapeutics by 231.7% in the third quarter. Braidwell LP now owns 1,225,448 shares of the company’s stock valued at $13,247,000 after purchasing an additional 855,990 shares during the period. 99.27% of the stock is currently owned by institutional investors and hedge funds.

4D Molecular Therapeutics Price Performance

4D Molecular Therapeutics stock opened at $3.79 on Thursday. The firm’s 50 day simple moving average is $4.77 and its 200-day simple moving average is $7.60. The company has a market cap of $175.48 million, a P/E ratio of -1.33 and a beta of 2.83. 4D Molecular Therapeutics has a fifty-two week low of $3.66 and a fifty-two week high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings results on Friday, February 28th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.10). On average, analysts expect that 4D Molecular Therapeutics will post -2.84 EPS for the current fiscal year.

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.