4D Molecular Therapeutics’ (FDMT) Buy Rating Reiterated at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a report issued on Thursday,Benzinga reports. The brokerage currently has a $39.00 price target on the stock.

FDMT has been the topic of several other research reports. Leerink Partners reiterated an “outperform” rating and issued a $36.00 price target (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. Royal Bank of Canada lowered their target price on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday. BMO Capital Markets dropped their target price on shares of 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. Cantor Fitzgerald lowered shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, September 23rd. Finally, HC Wainwright reissued a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Thursday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

4D Molecular Therapeutics Price Performance

Shares of NASDAQ:FDMT opened at $8.83 on Thursday. 4D Molecular Therapeutics has a 1 year low of $7.32 and a 1 year high of $36.25. The stock has a market capitalization of $408.21 million, a price-to-earnings ratio of -3.10 and a beta of 2.82. The company’s 50 day simple moving average is $10.30 and its 200 day simple moving average is $17.03.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Large investors have recently modified their holdings of the business. Barclays PLC grew its stake in shares of 4D Molecular Therapeutics by 141.0% in the third quarter. Barclays PLC now owns 114,848 shares of the company’s stock worth $1,241,000 after purchasing an additional 67,202 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in 4D Molecular Therapeutics by 81.3% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 24,538 shares of the company’s stock worth $265,000 after buying an additional 11,002 shares during the period. State Street Corp grew its position in shares of 4D Molecular Therapeutics by 1.8% in the 3rd quarter. State Street Corp now owns 2,116,508 shares of the company’s stock valued at $22,879,000 after buying an additional 37,232 shares during the last quarter. Redmile Group LLC increased its stake in shares of 4D Molecular Therapeutics by 17.6% in the third quarter. Redmile Group LLC now owns 1,262,090 shares of the company’s stock valued at $13,643,000 after buying an additional 188,655 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of 4D Molecular Therapeutics during the third quarter worth about $166,000. 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.