4D Molecular Therapeutics (NASDAQ:FDMT) Given New $35.00 Price Target at Royal Bank of Canada

4D Molecular Therapeutics (NASDAQ:FDMT) had its target price decreased by Royal Bank of Canada from $39.00 to $35.00 in a report released on Monday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

FDMT has been the subject of several other research reports. HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Monday. BMO Capital Markets lowered 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $40.00 to $15.00 in a research report on Monday, January 13th. Morgan Stanley cut their price target on 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating on the stock in a report on Monday, January 13th. Bank of America cut their price target on 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.63.

4D Molecular Therapeutics Stock Down 8.6 %

Shares of NASDAQ FDMT opened at $4.14 on Monday. 4D Molecular Therapeutics has a fifty-two week low of $4.12 and a fifty-two week high of $36.25. The business has a 50 day moving average price of $5.19 and a two-hundred day moving average price of $8.48. The firm has a market cap of $191.38 million, a PE ratio of -1.45 and a beta of 2.81.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its earnings results on Friday, February 28th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.10). On average, analysts anticipate that 4D Molecular Therapeutics will post -2.84 earnings per share for the current year.

Institutional Trading of 4D Molecular Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS bought a new stake in 4D Molecular Therapeutics during the 4th quarter valued at $48,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in 4D Molecular Therapeutics during the 4th quarter valued at $50,000. PNC Financial Services Group Inc. raised its stake in 4D Molecular Therapeutics by 66.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,124 shares of the company’s stock valued at $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 4th quarter. Daiwa Securities Group Inc. now owns 9,921 shares of the company’s stock valued at $55,000 after acquiring an additional 9,737 shares in the last quarter. Finally, Velan Capital Investment Management LP bought a new stake in 4D Molecular Therapeutics during the 4th quarter valued at $56,000. Institutional investors own 99.27% of the company’s stock.

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.