Geode Capital Management LLC Reduces Position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Geode Capital Management LLC reduced its holdings in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,012,162 shares of the company’s stock after selling 24,383 shares during the period. Geode Capital Management LLC’s holdings in 4D Molecular Therapeutics were worth $5,639,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its stake in shares of 4D Molecular Therapeutics by 66.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,124 shares of the company’s stock worth $51,000 after acquiring an additional 3,630 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of 4D Molecular Therapeutics by 5.3% in the fourth quarter. Rhumbline Advisers now owns 73,431 shares of the company’s stock valued at $409,000 after purchasing an additional 3,675 shares during the period. American Century Companies Inc. increased its position in 4D Molecular Therapeutics by 12.9% during the fourth quarter. American Century Companies Inc. now owns 38,785 shares of the company’s stock worth $216,000 after purchasing an additional 4,429 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in 4D Molecular Therapeutics during the fourth quarter worth about $48,000. Finally, Daiwa Securities Group Inc. boosted its holdings in 4D Molecular Therapeutics by 5,291.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 9,921 shares of the company’s stock valued at $55,000 after purchasing an additional 9,737 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on FDMT shares. Morgan Stanley reduced their price target on shares of 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating on the stock in a research report on Monday, January 13th. HC Wainwright restated a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Monday, March 3rd. Bank of America lowered their price target on 4D Molecular Therapeutics from $42.00 to $40.00 and set a “buy” rating for the company in a report on Monday, March 10th. 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 company from $40.00 to $15.00 in a research report on Monday, January 13th. Finally, Leerink Partners dropped their price target on shares of 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, 4D Molecular Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $26.71.

4D Molecular Therapeutics Stock Performance

Shares of FDMT opened at $3.34 on Friday. The company’s 50-day simple moving average is $3.62 and its 200-day simple moving average is $5.67. 4D Molecular Therapeutics, Inc. has a 1 year low of $2.24 and a 1 year high of $28.93. The stock has a market capitalization of $154.65 million, a PE ratio of -1.17 and a beta of 2.89.

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 analysts’ consensus estimates of ($0.80) by ($0.10). On average, sell-side analysts predict that 4D Molecular Therapeutics, Inc. will post -2.84 earnings per share 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.