4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Given Average Recommendation of “Moderate Buy” by Brokerages

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) has received a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $47.14.

Several equities research analysts have commented on FDMT shares. Cantor Fitzgerald cut 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, September 23rd. Leerink Partners restated an “outperform” rating and set a $36.00 target price (down previously from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. Chardan Capital lifted their price target on shares of 4D Molecular Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. BMO Capital Markets reduced their price objective on shares of 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, July 18th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th.

4D Molecular Therapeutics Trading Down 0.6 %

FDMT stock opened at $8.07 on Tuesday. The stock has a market cap of $419.40 million, a PE ratio of -3.51 and a beta of 2.82. The stock has a 50-day moving average price of $10.88 and a two-hundred day moving average price of $17.48. 4D Molecular Therapeutics has a 1 year low of $7.90 and a 1 year high of $36.25.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Institutional investors have recently bought and sold shares of the business. Entropy Technologies LP bought a new position in shares of 4D Molecular Therapeutics during the 1st quarter worth approximately $239,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of 4D Molecular Therapeutics by 10.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 706,000 shares of the company’s stock valued at $14,819,000 after purchasing an additional 65,000 shares during the last quarter. Kennedy Capital Management LLC bought a new position in shares of 4D Molecular Therapeutics in the first quarter valued at about $4,358,000. Sofinnova Investments Inc. raised its position in shares of 4D Molecular Therapeutics by 36.8% in the second quarter. Sofinnova Investments Inc. now owns 271,155 shares of the company’s stock valued at $5,692,000 after purchasing an additional 72,969 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of 4D Molecular Therapeutics by 702.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock worth $110,000 after buying an additional 3,026 shares during the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

About 4D Molecular Therapeutics

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.