State Street Corp Boosts Holdings in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

State Street Corp raised its position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,116,508 shares of the company’s stock after purchasing an additional 37,232 shares during the period. State Street Corp owned 4.07% of 4D Molecular Therapeutics worth $22,879,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in 4D Molecular Therapeutics by 28.9% during the second quarter. Bank of New York Mellon Corp now owns 169,413 shares of the company’s stock valued at $3,556,000 after buying an additional 38,015 shares during the period. Panagora Asset Management Inc. boosted its position in shares of 4D Molecular Therapeutics by 247.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 354,857 shares of the company’s stock valued at $7,448,000 after acquiring an additional 252,789 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of 4D Molecular Therapeutics by 9.6% during the 2nd quarter. Principal Financial Group Inc. now owns 21,034 shares of the company’s stock valued at $442,000 after acquiring an additional 1,849 shares during the last quarter. Privium Fund Management B.V. grew its holdings in shares of 4D Molecular Therapeutics by 29.0% during the second quarter. Privium Fund Management B.V. now owns 40,000 shares of the company’s stock worth $823,000 after purchasing an additional 9,000 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of 4D Molecular Therapeutics by 14.2% in the second quarter. Rhumbline Advisers now owns 72,933 shares of the company’s stock worth $1,531,000 after purchasing an additional 9,062 shares during the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Leerink Partners reissued an “outperform” rating and issued a $36.00 target price (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. Morgan Stanley began coverage on 4D Molecular Therapeutics in a report on Thursday, November 21st. They issued an “underweight” rating and a $8.00 price objective for the company. Chardan Capital reissued a “buy” rating and set a $39.00 price objective on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. Cantor Fitzgerald lowered 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada decreased their price target on shares of 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.56.

4D Molecular Therapeutics Stock Up 9.2 %

Shares of NASDAQ FDMT opened at $6.31 on Monday. The firm’s fifty day moving average is $7.79 and its 200 day moving average is $13.90. 4D Molecular Therapeutics, Inc. has a 52 week low of $5.58 and a 52 week high of $36.25. The company has a market cap of $291.70 million, a price-to-earnings ratio of -2.21 and a beta of 2.74.

4D Molecular Therapeutics 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.