nVerses Capital LLC Takes Position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

nVerses Capital LLC purchased a new stake in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,700 shares of the company’s stock, valued at approximately $40,000.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in 4D Molecular Therapeutics by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,952 shares of the company’s stock worth $764,000 after purchasing an additional 1,356 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of 4D Molecular Therapeutics by 9.6% during the second quarter. Principal Financial Group Inc. now owns 21,034 shares of the company’s stock worth $442,000 after buying an additional 1,849 shares during the last quarter. Algert Global LLC raised its stake in shares of 4D Molecular Therapeutics by 20.6% during the second quarter. Algert Global LLC now owns 16,588 shares of the company’s stock worth $348,000 after buying an additional 2,828 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in 4D Molecular Therapeutics by 702.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock valued at $110,000 after buying an additional 3,026 shares during the period. Finally, California State Teachers Retirement System boosted its stake in 4D Molecular Therapeutics by 12.6% in the first quarter. California State Teachers Retirement System now owns 28,490 shares of the company’s stock valued at $908,000 after acquiring an additional 3,197 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on FDMT shares. Cantor Fitzgerald cut shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, September 23rd. Chardan Capital increased their target price on 4D Molecular Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. BMO Capital Markets reduced their target price on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, July 18th. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. Finally, Leerink Partners reissued an “outperform” rating and set a $36.00 price objective (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, 4D Molecular Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $45.25.

4D Molecular Therapeutics Stock Performance

Shares of FDMT opened at $8.26 on Wednesday. The stock has a 50 day simple moving average of $12.90 and a 200 day simple moving average of $19.38. 4D Molecular Therapeutics, Inc. has a 52-week low of $8.19 and a 52-week high of $36.25. The firm has a market capitalization of $427.07 million, a PE ratio of -3.39 and a beta of 2.77.

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

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.