Intech Investment Management LLC Cuts Position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Intech Investment Management LLC reduced its stake in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 11.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,834 shares of the company’s stock after selling 2,927 shares during the quarter. Intech Investment Management LLC’s holdings in 4D Molecular Therapeutics were worth $122,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FDMT. Connor Clark & Lunn Investment Management Ltd. raised its holdings in 4D Molecular Therapeutics by 139.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,354 shares of the company’s stock worth $364,000 after purchasing an additional 38,031 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in 4D Molecular Therapeutics by 5,291.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 9,921 shares of the company’s stock valued at $55,000 after acquiring an additional 9,737 shares during the last quarter. AlphaQuest LLC boosted its stake in 4D Molecular Therapeutics by 3,665.2% in the fourth quarter. AlphaQuest LLC now owns 14,835 shares of the company’s stock valued at $83,000 after acquiring an additional 14,441 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in 4D Molecular Therapeutics by 66.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,124 shares of the company’s stock worth $51,000 after purchasing an additional 3,630 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of 4D Molecular Therapeutics during the fourth quarter worth $629,000. Institutional investors own 99.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on FDMT shares. Chardan Capital dropped their target price on 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. Leerink Partners dropped 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. Royal Bank of Canada decreased their price objective on shares of 4D Molecular Therapeutics from $39.00 to $35.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Bank of America dropped their target price on shares of 4D Molecular Therapeutics from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a report on Monday, March 3rd. One investment 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.63.

4D Molecular Therapeutics Price Performance

Shares of 4D Molecular Therapeutics stock opened at $3.56 on Friday. 4D Molecular Therapeutics, Inc. has a 1 year low of $3.50 and a 1 year high of $34.20. The stock has a market cap of $164.84 million, a PE ratio of -1.25 and a beta of 2.83. The firm has a fifty day moving average price of $4.60 and a 200 day moving average price of $7.17.

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, equities analysts expect that 4D Molecular Therapeutics, Inc. will post -2.84 EPS for the current 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.