4D Molecular Therapeutics (NASDAQ:FDMT) Given New $28.00 Price Target at Chardan Capital

4D Molecular Therapeutics (NASDAQ:FDMT) had its price target cut by Chardan Capital from $30.00 to $28.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

FDMT has been the subject of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research report on Monday. Leerink Partners lowered their price objective on shares of 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. Morgan Stanley cut their price objective on 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating for the company in a report on Monday, January 13th. Bank of America lowered their price objective on shares of 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada cut their price objective on shares of 4D Molecular Therapeutics from $39.00 to $35.00 and set an “outperform” rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, 4D Molecular Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.38.

4D Molecular Therapeutics Price Performance

Shares of NASDAQ:FDMT opened at $3.97 on Tuesday. 4D Molecular Therapeutics has a 1 year low of $3.92 and a 1 year high of $36.25. The company has a market cap of $183.53 million, a PE ratio of -1.39 and a beta of 2.81. The stock’s 50-day moving average is $5.15 and its 200 day moving average is $8.40.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings data on Friday, February 28th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.10). Analysts expect that 4D Molecular Therapeutics will post -2.84 EPS for the current fiscal year.

Institutional Trading of 4D Molecular Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Millennium Management LLC boosted its stake in 4D Molecular Therapeutics by 1,607.1% during the fourth quarter. Millennium Management LLC now owns 1,420,723 shares of the company’s stock valued at $7,913,000 after buying an additional 1,337,497 shares during the last quarter. Braidwell LP increased its holdings in shares of 4D Molecular Therapeutics by 231.7% in the 3rd quarter. Braidwell LP now owns 1,225,448 shares of the company’s stock worth $13,247,000 after buying an additional 855,990 shares during the last quarter. JPMorgan Chase & Co. increased its stake in 4D Molecular Therapeutics by 159.5% during the fourth quarter. JPMorgan Chase & Co. now owns 820,069 shares of the company’s stock worth $4,568,000 after acquiring an additional 504,086 shares during the last quarter. Norges Bank purchased a new position in shares of 4D Molecular Therapeutics in the 4th quarter worth approximately $2,790,000. Finally, Cubist Systematic Strategies LLC lifted its position in 4D Molecular Therapeutics by 2,084.5% in the fourth quarter. Cubist Systematic Strategies LLC now owns 448,831 shares of the company’s stock worth $2,500,000 after buying an additional 428,285 shares during the last quarter. Hedge funds and other 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.