4D Molecular Therapeutics (NASDAQ:FDMT) Coverage Initiated at Morgan Stanley

Morgan Stanley started coverage on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a report released on Thursday morning, Marketbeat reports. The firm issued an underweight rating and a $8.00 target price on the stock.

A number of other research firms have also weighed in on FDMT. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. Royal Bank of Canada lowered their price target on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, November 14th. Chardan Capital reaffirmed a “buy” rating and set a $39.00 price objective on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. Cantor Fitzgerald cut shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, September 23rd. Finally, Leerink Partners restated an “outperform” rating and set a $36.00 target price (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, 4D Molecular Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $42.13.

4D Molecular Therapeutics Stock Performance

Shares of 4D Molecular Therapeutics stock opened at $7.79 on Thursday. 4D Molecular Therapeutics has a fifty-two week low of $7.32 and a fifty-two week high of $36.25. The company has a market capitalization of $360.12 million, a P/E ratio of -2.73 and a beta of 2.82. The company has a fifty day moving average of $9.56 and a 200 day moving average of $16.45.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Sei Investments Co. bought a new position in shares of 4D Molecular Therapeutics in the 1st quarter valued at about $504,000. ProShare Advisors LLC bought a new stake in shares of 4D Molecular Therapeutics in the 1st quarter valued at approximately $344,000. Vanguard Group Inc. boosted its holdings in shares of 4D Molecular Therapeutics by 25.3% in the 1st quarter. Vanguard Group Inc. now owns 2,339,943 shares of the company’s stock worth $74,551,000 after purchasing an additional 473,094 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of 4D Molecular Therapeutics by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,952 shares of the company’s stock valued at $764,000 after purchasing an additional 1,356 shares during the last quarter. Finally, Bellevue Group AG purchased a new stake in 4D Molecular Therapeutics during the 1st quarter valued at $500,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

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.