Barclays Issues Pessimistic Forecast for 4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price

4D Molecular Therapeutics (NASDAQ:FDMT) had its target price dropped by equities researchers at Barclays from $45.00 to $38.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock.

Several other equities analysts have also recently weighed in on FDMT. Bank of America decreased their price objective on 4D Molecular Therapeutics from $42.00 to $40.00 and set a “buy” rating for the company in a report on Monday, March 10th. Morgan Stanley decreased their price objective on shares of 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 lowered their target price 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. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 4D Molecular Therapeutics in a research report on Thursday, April 24th. Finally, 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 research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.56.

4D Molecular Therapeutics Stock Down 4.9 %

FDMT opened at $3.08 on Friday. 4D Molecular Therapeutics has a 12 month low of $2.24 and a 12 month high of $28.93. The stock has a market cap of $142.68 million, a P/E ratio of -1.08 and a beta of 2.87. The company has a fifty day simple moving average of $3.38 and a 200 day simple moving average of $5.27.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its earnings results on Thursday, May 8th. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.02). On average, equities research analysts expect that 4D Molecular Therapeutics will post -2.84 earnings per share for the current fiscal year.

Institutional Trading of 4D Molecular Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Decheng Capital LLC raised its holdings in 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 4D Molecular Therapeutics by 7.1% in the fourth 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 in the last quarter. PNC Financial Services Group Inc. raised its stake in 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 buying an additional 3,630 shares during the period. Rhumbline Advisers raised its position 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 purchasing an additional 3,675 shares during the period. Finally, ProShare Advisors LLC raised 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 buying an additional 3,783 shares during the last quarter. Institutional investors and hedge funds 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.