Analysts Set 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Target Price at $42.56

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) have been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $42.56.

A number of research analysts have recently issued reports on the company. Leerink Partners reaffirmed an “outperform” rating and set a $36.00 price target (down from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. Cantor Fitzgerald cut shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, September 23rd. HC Wainwright reiterated a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. Royal Bank of Canada lowered their price objective on shares of 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, November 14th. Finally, Morgan Stanley assumed coverage on shares of 4D Molecular Therapeutics in a research report on Thursday, November 21st. They issued an “underweight” rating and a $8.00 target price for the company.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its position in 4D Molecular Therapeutics by 9.6% during the second quarter. Principal Financial Group Inc. now owns 21,034 shares of the company’s stock valued at $442,000 after purchasing an additional 1,849 shares in the last quarter. Algert Global LLC lifted its position in shares of 4D Molecular Therapeutics by 20.6% during the 2nd quarter. Algert Global LLC now owns 16,588 shares of the company’s stock valued at $348,000 after buying an additional 2,828 shares in the last quarter. nVerses Capital LLC bought a new position in shares of 4D Molecular Therapeutics during the 3rd quarter valued at approximately $40,000. The Manufacturers Life Insurance Company increased its holdings in 4D Molecular Therapeutics by 25.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,975 shares of the company’s stock worth $398,000 after acquiring an additional 3,850 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in 4D Molecular Therapeutics by 64.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,995 shares of the company’s stock worth $108,000 after acquiring an additional 3,922 shares during the period. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

4D Molecular Therapeutics Trading Up 1.7 %

FDMT stock opened at $5.93 on Wednesday. The stock has a market capitalization of $274.13 million, a PE ratio of -2.08 and a beta of 2.74. The stock’s 50 day simple moving average is $7.23 and its 200 day simple moving average is $12.57. 4D Molecular Therapeutics has a 12-month low of $5.22 and a 12-month high of $36.25.

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.