Brokerages Set 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Target Price at $42.56

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) have been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $42.56.

A number of equities research analysts have weighed in on FDMT shares. Leerink Partners reissued 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. Cantor Fitzgerald lowered shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, September 23rd. Bank of America decreased their price objective on 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Morgan Stanley initiated coverage on 4D Molecular Therapeutics in a report on Thursday, November 21st. They set an “underweight” rating and a $8.00 target price on the stock. Finally, Royal Bank of Canada decreased their price target on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, November 14th.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Several large investors have recently added to or reduced their stakes in FDMT. Assenagon Asset Management S.A. boosted its holdings in shares of 4D Molecular Therapeutics by 238.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,543,414 shares of the company’s stock worth $16,684,000 after buying an additional 1,087,147 shares in the last quarter. Braidwell LP boosted its stake in 4D Molecular Therapeutics by 231.7% during the third quarter. Braidwell LP now owns 1,225,448 shares of the company’s stock worth $13,247,000 after acquiring an additional 855,990 shares in the last quarter. Redmile Group LLC boosted its stake in 4D Molecular Therapeutics by 17.6% during the third quarter. Redmile Group LLC now owns 1,262,090 shares of the company’s stock worth $13,643,000 after acquiring an additional 188,655 shares in the last quarter. Novo Holdings A S grew its holdings 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 during the period. Finally, Squarepoint Ops LLC increased its stake in 4D Molecular Therapeutics by 652.7% in the second quarter. Squarepoint Ops LLC now owns 110,041 shares of the company’s stock valued at $2,310,000 after purchasing an additional 95,422 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

4D Molecular Therapeutics Trading Up 1.7 %

NASDAQ:FDMT opened at $5.93 on Wednesday. The stock’s 50-day moving average is $7.23 and its 200-day moving average is $12.71. 4D Molecular Therapeutics has a 1-year low of $5.22 and a 1-year high of $36.25. The stock has a market cap of $274.13 million, a P/E ratio of -2.08 and a beta of 2.74.

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.