4D Molecular Therapeutics (NASDAQ:FDMT) Lowered to “Market Perform” Rating by BMO Capital Markets

BMO Capital Markets cut shares of 4D Molecular Therapeutics (NASDAQ:FDMT) from an outperform rating to a market perform rating in a research note issued to investors on Monday morning, MarketBeat reports. They currently have $15.00 target price on the stock, down from their prior target price of $40.00.

FDMT has been the topic of several other reports. Chardan Capital reiterated a “buy” rating and issued a $39.00 price objective on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. Royal Bank of Canada cut their target price 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. Morgan Stanley began coverage on shares of 4D Molecular Therapeutics in a research note on Thursday, November 21st. They issued an “underweight” rating and a $8.00 price target for the company. Cantor Fitzgerald downgraded shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, September 23rd. Finally, Leerink Partners reiterated an “outperform” rating and set a $36.00 target price (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, 4D Molecular Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $38.56.

4D Molecular Therapeutics Price Performance

Shares of NASDAQ:FDMT opened at $4.76 on Monday. The firm has a market capitalization of $220.05 million, a price-to-earnings ratio of -1.67 and a beta of 2.81. The business’s 50 day moving average price is $6.94 and its 200-day moving average price is $11.88. 4D Molecular Therapeutics has a 1 year low of $4.68 and a 1 year high of $36.25.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in FDMT. nVerses Capital LLC purchased a new position in 4D Molecular Therapeutics during the third quarter worth about $40,000. Values First Advisors Inc. acquired a new stake in 4D Molecular Therapeutics during the third quarter worth approximately $57,000. Quest Partners LLC boosted its position in 4D Molecular Therapeutics by 17,409.1% during the second quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock worth $121,000 after acquiring an additional 5,745 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of 4D Molecular Therapeutics by 64.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,995 shares of the company’s stock valued at $108,000 after buying an additional 3,922 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in shares of 4D Molecular Therapeutics during the 3rd quarter valued at $108,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

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.