Morgan Stanley Cuts 4D Molecular Therapeutics (NASDAQ:FDMT) Price Target to $6.00

4D Molecular Therapeutics (NASDAQ:FDMT) had its price target lowered by Morgan Stanley from $8.00 to $6.00 in a report published on Monday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

FDMT has been the subject of a number of other reports. Royal Bank of Canada decreased their price target on shares of 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, November 14th. BMO Capital Markets downgraded 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $40.00 to $15.00 in a research note on Monday. Cantor Fitzgerald downgraded 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, September 23rd. Chardan Capital reiterated a “buy” rating and set a $39.00 price target on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. Finally, Bank of America lowered their price objective on shares of 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, 4D Molecular Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $38.56.

4D Molecular Therapeutics Trading Up 3.3 %

NASDAQ FDMT opened at $5.04 on Monday. 4D Molecular Therapeutics has a 1 year low of $4.68 and a 1 year high of $36.25. The company has a fifty day simple moving average of $6.87 and a 200 day simple moving average of $11.77. The company has a market cap of $232.99 million, a P/E ratio of -1.77 and a beta of 2.81.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of institutional investors have recently bought and sold shares of FDMT. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of 4D Molecular Therapeutics by 10.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 706,000 shares of the company’s stock valued at $14,819,000 after buying an additional 65,000 shares in the last quarter. Sofinnova Investments Inc. increased its stake in 4D Molecular Therapeutics by 36.8% in the second quarter. Sofinnova Investments Inc. now owns 271,155 shares of the company’s stock valued at $5,692,000 after acquiring an additional 72,969 shares during the period. Novo Holdings A S raised its position in 4D Molecular Therapeutics by 7.1% in the third quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock worth $16,215,000 after purchasing an additional 100,000 shares in the last quarter. Barclays PLC lifted its stake in 4D Molecular Therapeutics by 141.0% during 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 period. Finally, nVerses Capital LLC bought a new position in 4D Molecular Therapeutics during the third quarter worth about $40,000. Institutional investors and hedge funds 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.