Assenagon Asset Management S.A. Sells 889,884 Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Assenagon Asset Management S.A. cut its stake in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 57.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 653,530 shares of the company’s stock after selling 889,884 shares during the quarter. Assenagon Asset Management S.A. owned about 1.41% of 4D Molecular Therapeutics worth $3,640,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of 4D Molecular Therapeutics by 1.8% in the 3rd quarter. State Street Corp now owns 2,116,508 shares of the company’s stock worth $22,879,000 after acquiring an additional 37,232 shares during the last quarter. Novo Holdings A S raised its position in 4D Molecular Therapeutics by 7.1% in the 3rd 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. Redmile Group LLC lifted its stake in 4D Molecular Therapeutics by 17.6% in the third quarter. Redmile Group LLC now owns 1,262,090 shares of the company’s stock worth $13,643,000 after purchasing an additional 188,655 shares during the last quarter. Braidwell LP boosted its position in shares of 4D Molecular Therapeutics by 231.7% during the third quarter. Braidwell LP now owns 1,225,448 shares of the company’s stock valued at $13,247,000 after buying an additional 855,990 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of 4D Molecular Therapeutics by 10.1% during the second 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 during the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Morgan Stanley decreased their price target on 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating for the company in a research note on Monday, January 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research note on Saturday. Leerink Partners reduced their price target on shares of 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Bank of America lowered their price objective on shares of 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.56.

4D Molecular Therapeutics Stock Up 2.0 %

Shares of FDMT stock opened at $4.67 on Wednesday. The firm has a market cap of $215.89 million, a price-to-earnings ratio of -1.64 and a beta of 2.81. 4D Molecular Therapeutics, Inc. has a 52-week low of $4.48 and a 52-week high of $36.25. The company’s 50 day moving average is $6.59 and its 200 day moving average is $11.31.

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.