4D Molecular Therapeutics (NASDAQ:FDMT) Given New $40.00 Price Target at Bank of America

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

Several other equities research analysts have also recently commented on the stock. Chardan Capital dropped their price target on shares of 4D Molecular Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Morgan Stanley lowered their price target on 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating for the company in a research note on Monday, January 13th. Leerink Partners lowered their price objective on 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. HC Wainwright reiterated a “buy” rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a report on Monday, March 3rd. Finally, BMO Capital Markets downgraded 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $40.00 to $15.00 in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.63.

4D Molecular Therapeutics Price Performance

4D Molecular Therapeutics stock opened at $4.24 on Monday. The company has a fifty day moving average price of $4.97 and a two-hundred day moving average price of $8.00. 4D Molecular Therapeutics has a 12 month low of $3.73 and a 12 month high of $36.25. The company has a market cap of $196.32 million, a PE ratio of -1.49 and a beta of 2.83.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its quarterly earnings data 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). Equities research analysts anticipate that 4D Molecular Therapeutics will post -2.84 earnings per share for the current year.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Institutional investors have recently bought and sold shares of the business. Decheng Capital LLC increased its stake in shares of 4D Molecular Therapeutics by 0.5% in the 4th quarter. Decheng Capital LLC now owns 400,000 shares of the company’s stock valued at $2,228,000 after buying an additional 2,165 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of 4D Molecular Therapeutics by 7.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,324 shares of the company’s stock valued at $247,000 after purchasing an additional 2,925 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of 4D Molecular Therapeutics by 66.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,124 shares of the company’s stock worth $51,000 after acquiring an additional 3,630 shares during the period. Rhumbline Advisers grew its holdings in shares of 4D Molecular Therapeutics by 5.3% during the fourth quarter. Rhumbline Advisers now owns 73,431 shares of the company’s stock worth $409,000 after buying an additional 3,675 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in 4D Molecular Therapeutics by 30.1% during the fourth quarter. ProShare Advisors LLC now owns 16,369 shares of the company’s stock worth $91,000 after purchasing an additional 3,783 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

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.