4D Molecular Therapeutics’ (FDMT) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research report report published on Thursday morning,Benzinga reports. HC Wainwright currently has a $36.00 target price on the stock.

A number of other equities analysts have also commented on the company. Leerink Partners reaffirmed an “outperform” rating and issued a $36.00 price target (down from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. Chardan Capital raised their target price on 4D Molecular Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Royal Bank of Canada reduced their target price on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday. Cantor Fitzgerald downgraded shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, September 23rd. Finally, 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. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.00.

4D Molecular Therapeutics Stock Up 10.1 %

NASDAQ FDMT opened at $8.83 on Thursday. The company’s 50 day moving average is $10.30 and its 200-day moving average is $17.09. The firm has a market cap of $458.90 million, a P/E ratio of -3.10 and a beta of 2.82. 4D Molecular Therapeutics has a 12-month low of $7.32 and a 12-month high of $36.25.

Hedge Funds Weigh In On 4D Molecular Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Entropy Technologies LP bought a new stake in shares of 4D Molecular Therapeutics during the 1st quarter worth $239,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in 4D Molecular Therapeutics by 10.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 706,000 shares of the company’s stock worth $14,819,000 after purchasing an additional 65,000 shares during the last quarter. Kennedy Capital Management LLC purchased a new position in shares of 4D Molecular Therapeutics in the 1st quarter worth about $4,358,000. Sofinnova Investments Inc. increased its position in shares of 4D Molecular Therapeutics by 36.8% during the 2nd 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 last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings 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 valued at $110,000 after buying an additional 3,026 shares in the last quarter. Hedge funds and other institutional investors 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.