Novo Holdings A S Raises Holdings in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Novo Holdings A S increased its position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 7.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,500,000 shares of the company’s stock after acquiring an additional 100,000 shares during the quarter. 4D Molecular Therapeutics comprises 0.8% of Novo Holdings A S’s investment portfolio, making the stock its 27th largest holding. Novo Holdings A S owned approximately 2.90% of 4D Molecular Therapeutics worth $16,215,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FDMT. nVerses Capital LLC purchased a new position in shares of 4D Molecular Therapeutics in the third quarter worth about $40,000. Values First Advisors Inc. purchased a new stake in shares of 4D Molecular Therapeutics during the third quarter worth $57,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of 4D Molecular Therapeutics by 702.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock worth $110,000 after acquiring an additional 3,026 shares during the period. Quest Partners LLC boosted its holdings in shares of 4D Molecular Therapeutics by 17,409.1% in the second quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock worth $121,000 after acquiring an additional 5,745 shares during the period. Finally, Entropy Technologies LP purchased a new position in shares of 4D Molecular Therapeutics in the first quarter valued at $239,000. 99.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FDMT. HC Wainwright reaffirmed a “buy” rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. BMO Capital Markets decreased their target price on shares of 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, July 18th. Chardan Capital increased their target price on shares of 4D Molecular Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Cantor Fitzgerald lowered shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, September 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 price objective on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.14.

4D Molecular Therapeutics Stock Performance

Shares of NASDAQ:FDMT opened at $8.15 on Friday. The firm has a market capitalization of $423.56 million, a PE ratio of -3.54 and a beta of 2.77. 4D Molecular Therapeutics, Inc. has a 52-week low of $7.90 and a 52-week high of $36.25. The firm has a fifty day moving average of $12.40 and a 200 day moving average of $18.88.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.09. The firm had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $1.90 million. On average, sell-side analysts forecast that 4D Molecular Therapeutics, Inc. will post -2.74 EPS for the current fiscal year.

4D Molecular Therapeutics 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.