The Manufacturers Life Insurance Company Raises Stake in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

The Manufacturers Life Insurance Company grew its stake in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 25.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,975 shares of the company’s stock after purchasing an additional 3,850 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in 4D Molecular Therapeutics were worth $398,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FDMT. Goldman Sachs Group Inc. boosted its stake in shares of 4D Molecular Therapeutics by 415.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock valued at $16,539,000 after purchasing an additional 658,069 shares during the period. Wellington Management Group LLP boosted its stake in shares of 4D Molecular Therapeutics by 4.5% during the fourth quarter. Wellington Management Group LLP now owns 180,475 shares of the company’s stock valued at $3,656,000 after purchasing an additional 7,753 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of 4D Molecular Therapeutics by 702.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock valued at $110,000 after purchasing an additional 3,026 shares during the period. Principal Financial Group Inc. boosted its stake in shares of 4D Molecular Therapeutics by 92.2% during the first quarter. Principal Financial Group Inc. now owns 19,185 shares of the company’s stock valued at $611,000 after purchasing an additional 9,204 shares during the period. Finally, Swiss National Bank boosted its stake in shares of 4D Molecular Therapeutics by 29.9% during the first quarter. Swiss National Bank now owns 53,900 shares of the company’s stock valued at $1,717,000 after purchasing an additional 12,400 shares during the period. 99.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FDMT has been the topic of several recent research reports. HC Wainwright reiterated a “buy” rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. Chardan Capital increased their target price on shares of 4D Molecular Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. BMO Capital Markets dropped their target price on shares of 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, July 18th. Leerink Partners reiterated an “outperform” rating and set a $36.00 target price (down from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. Finally, Cantor Fitzgerald cut shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.25.

4D Molecular Therapeutics Stock Performance

FDMT stock opened at $8.66 on Thursday. The firm has a market cap of $447.75 million, a price-to-earnings ratio of -3.55 and a beta of 2.77. The firm has a 50-day simple moving average of $13.28 and a two-hundred day simple moving average of $19.86. 4D Molecular Therapeutics, Inc. has a one year low of $8.53 and a one year high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.09. The firm had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $1.90 million. As a group, equities analysts predict that 4D Molecular Therapeutics, Inc. will post -2.74 earnings per share for the current fiscal year.

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.