4D Molecular Therapeutics (NASDAQ:FDMT) Price Target Cut to $6.00 by Analysts at Morgan Stanley

4D Molecular Therapeutics (NASDAQ:FDMT) had its price target lowered by equities research analysts at Morgan Stanley from $8.00 to $6.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 25.00% from the company’s previous close.

Several other analysts also recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research report on Monday. Cantor Fitzgerald lowered shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, September 23rd. Royal Bank of Canada decreased their price objective on shares of 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, November 14th. Chardan Capital restated a “buy” rating and issued a $39.00 target price on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. Finally, Bank of America reduced their price objective on 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.56.

4D Molecular Therapeutics Stock Performance

Shares of NASDAQ:FDMT traded down $0.72 during midday trading on Monday, reaching $4.80. The company’s stock had a trading volume of 528,240 shares, compared to its average volume of 682,908. The firm has a market capitalization of $221.89 million, a price-to-earnings ratio of -1.68 and a beta of 2.81. The firm has a 50 day moving average price of $7.00 and a two-hundred day moving average price of $11.99. 4D Molecular Therapeutics has a fifty-two week low of $4.68 and a fifty-two week high of $36.25.

Institutional Trading of 4D Molecular Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. nVerses Capital LLC bought a new position in shares of 4D Molecular Therapeutics in the third quarter worth about $40,000. Values First Advisors Inc. purchased a new position in 4D Molecular Therapeutics in the 3rd quarter worth approximately $57,000. China Universal Asset Management Co. Ltd. boosted its stake in 4D Molecular Therapeutics by 64.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,995 shares of the company’s stock worth $108,000 after purchasing an additional 3,922 shares during the period. Proficio Capital Partners LLC purchased a new stake in 4D Molecular Therapeutics during the 3rd quarter valued at approximately $108,000. Finally, Quest Partners LLC grew its holdings in 4D Molecular Therapeutics by 17,409.1% during the 2nd quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock valued at $121,000 after buying an additional 5,745 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

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.