4D Molecular Therapeutics (NASDAQ:FDMT) Given New $35.00 Price Target at Royal Bank of Canada

4D Molecular Therapeutics (NASDAQ:FDMT) had its target price reduced by Royal Bank of Canada from $39.00 to $35.00 in a report issued on Monday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also weighed in on FDMT. Weiss Ratings reissued a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research report on Wednesday, February 19th. BMO Capital Markets lowered 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $40.00 to $15.00 in a research report on Monday, January 13th. HC Wainwright reissued a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Monday. Leerink Partners reduced their price target on shares of 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Finally, Morgan Stanley reduced their price target on shares of 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating for the company in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, 4D Molecular Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.38.

4D Molecular Therapeutics Price Performance

FDMT opened at $4.16 on Monday. The stock has a 50-day moving average price of $5.12 and a 200-day moving average price of $8.37. The firm has a market cap of $192.31 million, a PE ratio of -1.46 and a beta of 2.81. 4D Molecular Therapeutics has a 1 year low of $3.92 and a 1 year high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its earnings results on Friday, February 28th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.10). As a group, sell-side analysts anticipate that 4D Molecular Therapeutics will post -2.84 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. KLP Kapitalforvaltning AS bought a new position in shares of 4D Molecular Therapeutics during the 4th quarter valued at approximately $48,000. Point72 Asia Singapore Pte. Ltd. bought a new position in 4D Molecular Therapeutics in the 4th quarter worth approximately $50,000. PNC Financial Services Group Inc. boosted its stake in 4D Molecular Therapeutics by 66.1% in 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 period. Daiwa Securities Group Inc. boosted its stake 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 worth $55,000 after purchasing an additional 9,737 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in 4D Molecular Therapeutics in the 3rd quarter worth approximately $108,000. 99.27% of the stock is currently owned by 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.