Chardan Capital Cuts 4D Molecular Therapeutics (NASDAQ:FDMT) Price Target to $28.00

4D Molecular Therapeutics (NASDAQ:FDMT) had its price objective reduced by Chardan Capital from $30.00 to $28.00 in a report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also weighed in on FDMT. Weiss Ratings reissued a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a report on Wednesday, February 19th. BMO Capital Markets downgraded 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $40.00 to $15.00 in a report on Monday, January 13th. Royal Bank of Canada cut their price target on 4D Molecular Therapeutics from $39.00 to $35.00 and set an “outperform” rating for the company in a report on Monday. Bank of America cut their price target on 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Finally, Morgan Stanley reduced their target price on shares of 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating on the stock in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, 4D Molecular Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $31.38.

4D Molecular Therapeutics Price Performance

NASDAQ FDMT opened at $4.14 on Tuesday. The firm has a market cap of $191.69 million, a P/E ratio of -1.45 and a beta of 2.83. The stock’s 50-day moving average is $5.08 and its two-hundred day moving average is $8.34. 4D Molecular Therapeutics has a fifty-two week low of $3.92 and a fifty-two week high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last released 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). On average, equities analysts expect that 4D Molecular Therapeutics will post -2.84 EPS for the current year.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Institutional investors have recently modified their holdings of the business. KLP Kapitalforvaltning AS bought a new stake in shares of 4D Molecular Therapeutics during the fourth quarter worth $48,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of 4D Molecular Therapeutics during the 4th quarter worth about $50,000. PNC Financial Services Group Inc. raised its holdings in 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 in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of 4D Molecular Therapeutics by 5,291.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 9,921 shares of the company’s stock valued at $55,000 after buying an additional 9,737 shares in the last quarter. Finally, Velan Capital Investment Management LP acquired a new position in shares of 4D Molecular Therapeutics during the 4th quarter worth about $56,000. Institutional investors 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.