4D Molecular Therapeutics’ (FDMT) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a report issued on Monday morning,Benzinga reports. They currently have a $36.00 price target on the stock.

FDMT has been the subject of a number of other reports. Bank of America cut their price target 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. BMO Capital Markets cut 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $40.00 to $15.00 in a research report on Monday, January 13th. Leerink Partners lowered their price objective on 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada lowered their price objective on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, November 14th. Finally, Chardan Capital lowered their price objective on 4D Molecular Therapeutics from $39.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, 4D Molecular Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $31.63.

4D Molecular Therapeutics Stock Down 8.6 %

Shares of FDMT stock opened at $4.14 on Monday. 4D Molecular Therapeutics has a 12 month low of $4.12 and a 12 month high of $36.25. The firm has a market cap of $191.38 million, a PE ratio of -1.45 and a beta of 2.81. The stock has a 50 day moving average of $5.19 and a 200-day moving average of $8.48.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its quarterly earnings results on Friday, February 28th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.10). As a group, equities analysts predict that 4D Molecular Therapeutics will post -2.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. KLP Kapitalforvaltning AS acquired a new position in 4D Molecular Therapeutics during the fourth quarter worth $48,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in 4D Molecular Therapeutics during the fourth quarter worth $50,000. PNC Financial Services Group Inc. raised its stake in 4D Molecular Therapeutics by 66.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,124 shares of the company’s stock worth $51,000 after acquiring an additional 3,630 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in 4D Molecular Therapeutics by 5,291.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 9,921 shares of the company’s stock worth $55,000 after acquiring an additional 9,737 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in 4D Molecular Therapeutics during the third quarter worth $108,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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.