Chardan Capital Issues Pessimistic Forecast for 4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price

4D Molecular Therapeutics (NASDAQ:FDMT) had its price target decreased by equities research analysts at Chardan Capital from $39.00 to $30.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

A number of other research firms also recently weighed in on FDMT. Royal Bank of Canada decreased their price objective on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, November 14th. Bank of America decreased their price target on 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Leerink Partners lowered their price objective on 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. BMO Capital Markets cut 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $40.00 to $15.00 in a report on Monday, January 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a report on Saturday, February 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.13.

4D Molecular Therapeutics Price Performance

FDMT opened at $4.55 on Tuesday. 4D Molecular Therapeutics has a fifty-two week low of $4.41 and a fifty-two week high of $36.25. The company’s 50 day moving average price is $5.69 and its two-hundred day moving average price is $9.53. The firm has a market capitalization of $210.34 million, a price-to-earnings ratio of -1.60 and a beta of 2.81.

Institutional Trading of 4D Molecular Therapeutics

Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of 4D Molecular Therapeutics by 6.7% during the fourth quarter. Wellington Management Group LLP now owns 177,279 shares of the company’s stock valued at $987,000 after purchasing an additional 11,089 shares in the last quarter. Norges Bank purchased a new stake in 4D Molecular Therapeutics in the 4th quarter valued at about $2,790,000. JPMorgan Chase & Co. lifted its position in shares of 4D Molecular Therapeutics by 159.5% during the 4th quarter. JPMorgan Chase & Co. now owns 820,069 shares of the company’s stock worth $4,568,000 after buying an additional 504,086 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of 4D Molecular Therapeutics by 168.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 28,041 shares of the company’s stock worth $166,000 after buying an additional 17,576 shares during the last quarter. Finally, EntryPoint Capital LLC grew its holdings in shares of 4D Molecular Therapeutics by 126.5% in the fourth quarter. EntryPoint Capital LLC now owns 55,539 shares of the company’s stock valued at $309,000 after acquiring an additional 31,020 shares in the last quarter. 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.