4D Molecular Therapeutics (NASDAQ:FDMT) Receives Buy Rating from Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research report report published on Thursday morning,Benzinga reports. The firm currently has a $39.00 price objective on the stock.

Other analysts have also issued research reports about the company. HC Wainwright reiterated a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a report on Thursday. Leerink Partners reiterated an “outperform” rating and set a $36.00 price objective (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. BMO Capital Markets decreased their target price on shares of 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, July 18th. Cantor Fitzgerald cut 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, September 23rd. Finally, Royal Bank of Canada dropped their price objective on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

4D Molecular Therapeutics Stock Up 11.8 %

NASDAQ:FDMT traded up $0.95 during mid-day trading on Thursday, reaching $8.97. The company’s stock had a trading volume of 619,576 shares, compared to its average volume of 889,544. The stock has a fifty day moving average of $10.43 and a 200-day moving average of $17.24. 4D Molecular Therapeutics has a 1 year low of $7.32 and a 1 year high of $36.25. The firm has a market capitalization of $466.17 million, a PE ratio of -3.16 and a beta of 2.82.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of 4D Molecular Therapeutics by 702.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock valued at $110,000 after buying an additional 3,026 shares during the last quarter. Swiss National Bank grew its stake in shares of 4D Molecular Therapeutics by 29.9% during the 1st quarter. Swiss National Bank now owns 53,900 shares of the company’s stock worth $1,717,000 after purchasing an additional 12,400 shares during the period. Sei Investments Co. acquired a new stake in shares of 4D Molecular Therapeutics during the 1st quarter valued at approximately $504,000. ProShare Advisors LLC purchased a new stake in shares of 4D Molecular Therapeutics during the 1st quarter worth approximately $344,000. Finally, Entropy Technologies LP acquired a new stake in shares of 4D Molecular Therapeutics in the 1st quarter worth approximately $239,000. 99.27% of the stock is owned by institutional investors and hedge funds.

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.