4D Molecular Therapeutics (NASDAQ:FDMT) Price Target Cut to $40.00 by Analysts at Bank of America

4D Molecular Therapeutics (NASDAQ:FDMT) had its target price decreased by Bank of America from $42.00 to $40.00 in a research report sent to investors on Monday,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. Royal Bank of Canada reduced 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, March 3rd. Leerink Partners decreased their price target on shares of 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. HC Wainwright reiterated a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a report on Monday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a report on Friday. Finally, Chardan Capital lowered their price target on 4D Molecular Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, 4D Molecular Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $30.63.

4D Molecular Therapeutics Stock Performance

Shares of FDMT opened at $3.89 on Monday. The company has a market capitalization of $180.11 million, a P/E ratio of -1.36 and a beta of 2.83. The business’s 50-day moving average is $5.02 and its two-hundred day moving average is $8.10. 4D Molecular Therapeutics has a fifty-two week low of $3.84 and a fifty-two week high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its quarterly earnings results 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 forecast that 4D Molecular Therapeutics will post -2.84 EPS for the current year.

Hedge Funds Weigh In On 4D Molecular Therapeutics

A number of institutional investors have recently bought and sold shares of FDMT. KLP Kapitalforvaltning AS acquired a new position in 4D Molecular Therapeutics in the fourth quarter valued at approximately $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of 4D Molecular Therapeutics during the 4th quarter worth $50,000. PNC Financial Services Group Inc. increased its position in shares of 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 worth $51,000 after purchasing an additional 3,630 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in 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 valued at $55,000 after buying an additional 9,737 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in 4D Molecular Therapeutics in the third quarter valued at about $108,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

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.