4D Molecular Therapeutics (NASDAQ:FDMT) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $36.00 price objective on the stock.

Several other equities research analysts also recently issued reports on FDMT. BMO Capital Markets downgraded 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $40.00 to $15.00 in a report on Monday, January 13th. Morgan Stanley dropped their price objective on 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating on the stock in a report on Monday, January 13th. Chardan Capital dropped their price objective on 4D Molecular Therapeutics from $39.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Weiss Ratings restated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a report on Wednesday, February 19th. Finally, Bank of America dropped their price objective on 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, 4D Molecular Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $31.38.

4D Molecular Therapeutics Trading Up 4.8 %

FDMT opened at $4.16 on Monday. 4D Molecular Therapeutics has a twelve month low of $3.92 and a twelve month high of $36.25. The firm has a market cap of $192.31 million, a price-to-earnings ratio of -1.46 and a beta of 2.81. The company has a fifty day simple moving average of $5.12 and a 200 day simple moving average of $8.37.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its earnings results 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). On average, analysts forecast that 4D Molecular Therapeutics will post -2.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new position in shares of 4D Molecular Therapeutics in the 4th quarter worth approximately $48,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of 4D Molecular Therapeutics in the 4th quarter worth approximately $50,000. PNC Financial Services Group Inc. grew its position in shares of 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 acquiring an additional 3,630 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of 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 acquiring an additional 9,737 shares in the last quarter. Finally, Velan Capital Investment Management LP acquired a new position in 4D Molecular Therapeutics during the 4th quarter valued at approximately $56,000. Institutional investors and hedge funds 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.