4D Molecular Therapeutics (NASDAQ:FDMT) Receives “Sell (D-)” Rating from Weiss Ratings

Weiss Ratings reaffirmed their sell (d-) rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research report sent to investors on Friday,Weiss Ratings reports.

Several other brokerages have also commented on FDMT. BMO Capital Markets lowered shares of 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $40.00 to $15.00 in a report on Monday, January 13th. HC Wainwright reaffirmed a “buy” rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Monday, March 3rd. Bank of America dropped their price objective on shares of 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Morgan Stanley dropped their price objective on shares of 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating for the company in a report on Monday, January 13th. Finally, Royal Bank of Canada dropped their price objective on shares of 4D Molecular Therapeutics from $39.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, 4D Molecular Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $31.38.

4D Molecular Therapeutics Trading Down 1.7 %

Shares of NASDAQ FDMT opened at $4.07 on Friday. 4D Molecular Therapeutics has a 12 month low of $3.92 and a 12 month high of $36.25. The company has a 50 day simple moving average of $5.08 and a two-hundred day simple moving average of $8.34. The stock has a market cap of $188.45 million, a price-to-earnings ratio of -1.43 and a beta of 2.83.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its earnings results on Friday, February 28th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.10). Analysts forecast that 4D Molecular Therapeutics will post -2.84 EPS for the current year.

Institutional Trading of 4D Molecular Therapeutics

Several hedge funds have recently made changes to their positions in FDMT. Millennium Management LLC lifted its position in shares of 4D Molecular Therapeutics by 1,607.1% during the fourth quarter. Millennium Management LLC now owns 1,420,723 shares of the company’s stock worth $7,913,000 after purchasing an additional 1,337,497 shares in the last quarter. Braidwell LP lifted its position in shares of 4D Molecular Therapeutics by 231.7% during the third quarter. Braidwell LP now owns 1,225,448 shares of the company’s stock worth $13,247,000 after purchasing an additional 855,990 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of 4D Molecular Therapeutics by 159.5% during the fourth quarter. JPMorgan Chase & Co. now owns 820,069 shares of the company’s stock worth $4,568,000 after purchasing an additional 504,086 shares in the last quarter. Norges Bank acquired a new stake in shares of 4D Molecular Therapeutics during the fourth quarter worth about $2,790,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of 4D Molecular Therapeutics by 2,084.5% during the fourth quarter. Cubist Systematic Strategies LLC now owns 448,831 shares of the company’s stock worth $2,500,000 after purchasing an additional 428,285 shares in the last quarter. Institutional investors and hedge funds 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.