Connor Clark & Lunn Investment Management Ltd. Raises Holdings in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 139.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,354 shares of the company’s stock after buying an additional 38,031 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.14% of 4D Molecular Therapeutics worth $364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FDMT. PNC Financial Services Group Inc. increased its position 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 purchasing an additional 3,630 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of 4D Molecular Therapeutics by 5,291.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 9,921 shares of the company’s stock worth $55,000 after purchasing an additional 9,737 shares during the period. AlphaQuest LLC boosted its stake in shares of 4D Molecular Therapeutics by 3,665.2% during the fourth quarter. AlphaQuest LLC now owns 14,835 shares of the company’s stock valued at $83,000 after purchasing an additional 14,441 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in 4D Molecular Therapeutics during the third quarter valued at approximately $166,000. Finally, Proficio Capital Partners LLC raised its stake in 4D Molecular Therapeutics by 100.0% in the fourth quarter. Proficio Capital Partners LLC now owns 20,000 shares of the company’s stock worth $111,000 after buying an additional 10,000 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors.

4D Molecular Therapeutics Stock Performance

4D Molecular Therapeutics stock opened at $3.92 on Monday. 4D Molecular Therapeutics, Inc. has a fifty-two week low of $3.58 and a fifty-two week high of $36.25. The company has a market cap of $181.50 million, a PE ratio of -1.38 and a beta of 2.83. The business’s 50-day simple moving average is $4.69 and its two-hundred day simple moving average is $7.39.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FDMT. Chardan Capital cut their price target on 4D Molecular Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Leerink Partners reduced their price objective on shares of 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. BMO Capital Markets downgraded shares of 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $40.00 to $15.00 in a research note on Monday, January 13th. Royal Bank of Canada reduced their price target on 4D Molecular Therapeutics from $39.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of 4D Molecular Therapeutics in a research report on Saturday. One research 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’s stock. According to data from MarketBeat, 4D Molecular Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $30.63.

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.