4D Molecular Therapeutics’ (FDMT) Buy Rating Reaffirmed at HC Wainwright

4D Molecular Therapeutics (NASDAQ:FDMT)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They presently have a $36.00 target price on the stock.

A number of other analysts have also weighed in on the company. Bank of America lowered their target price on 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Leerink Partners restated an “outperform” rating and issued a $36.00 target price (down from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. Morgan Stanley began coverage on 4D Molecular Therapeutics in a research note on Thursday, November 21st. They issued an “underweight” rating and a $8.00 target price for the company. Cantor Fitzgerald lowered 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, September 23rd. Finally, Chardan Capital restated a “buy” rating and issued a $39.00 target price on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.78.

4D Molecular Therapeutics Stock Performance

Shares of NASDAQ FDMT opened at $5.52 on Monday. 4D Molecular Therapeutics has a 52-week low of $5.22 and a 52-week high of $36.25. The stock has a market cap of $255.18 million, a PE ratio of -1.94 and a beta of 2.81. The business has a fifty day moving average of $7.00 and a two-hundred day moving average of $11.99.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Several institutional investors have recently modified their holdings of the stock. Algert Global LLC grew its position in shares of 4D Molecular Therapeutics by 20.6% during the 2nd quarter. Algert Global LLC now owns 16,588 shares of the company’s stock worth $348,000 after buying an additional 2,828 shares during the period. nVerses Capital LLC bought a new position in shares of 4D Molecular Therapeutics during the 3rd quarter valued at about $40,000. The Manufacturers Life Insurance Company lifted its holdings in shares of 4D Molecular Therapeutics by 25.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,975 shares of the company’s stock valued at $398,000 after purchasing an additional 3,850 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of 4D Molecular Therapeutics by 64.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,995 shares of the company’s stock valued at $108,000 after purchasing an additional 3,922 shares in the last quarter. Finally, Values First Advisors Inc. bought a new position in shares of 4D Molecular Therapeutics during the 3rd quarter valued at about $57,000. 99.27% of the stock is currently 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.