Chardan Capital Reaffirms Buy Rating for 4D Molecular Therapeutics (NASDAQ:FDMT)

4D Molecular Therapeutics (NASDAQ:FDMT)‘s stock had its “buy” rating reiterated by stock analysts at Chardan Capital in a research note issued on Thursday,Benzinga reports. They presently have a $39.00 target price on the stock. Chardan Capital’s price target points to a potential upside of 341.68% from the stock’s previous close.

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

4D Molecular Therapeutics Stock Up 10.1 %

Shares of FDMT opened at $8.83 on Thursday. The stock has a 50 day moving average price of $10.30 and a 200 day moving average price of $17.13. The company has a market capitalization of $458.90 million, a price-to-earnings ratio of -3.10 and a beta of 2.82. 4D Molecular Therapeutics has a 52-week low of $7.32 and a 52-week high of $36.25.

Institutional Inflows and Outflows

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

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.