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

4D Molecular Therapeutics (NASDAQ:FDMT)‘s stock had its “buy” rating restated by equities researchers at Chardan Capital in a research report issued on Thursday,Benzinga reports. They currently have a $39.00 target price on the stock. Chardan Capital’s price target would suggest a potential upside of 386.28% from the company’s current price.

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

4D Molecular Therapeutics Stock Up 4.0 %

Shares of NASDAQ FDMT traded up $0.31 during midday trading on Thursday, hitting $8.02. The stock had a trading volume of 1,721,018 shares, compared to its average volume of 890,762. The company has a market cap of $416.80 million, a P/E ratio of -3.49 and a beta of 2.82. The business’s 50 day moving average is $10.58 and its 200-day moving average is $17.31. 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 hedge funds have recently made changes to their positions in FDMT. Price T Rowe Associates Inc. MD boosted its stake 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 worth $764,000 after purchasing an additional 1,356 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of 4D Molecular Therapeutics by 9.6% during the second quarter. Principal Financial Group Inc. now owns 21,034 shares of the company’s stock worth $442,000 after buying an additional 1,849 shares in the last quarter. Algert Global LLC raised 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 purchasing an additional 2,828 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in 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 worth $110,000 after purchasing an additional 3,026 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in shares of 4D Molecular Therapeutics by 12.6% in the first quarter. California State Teachers Retirement System now owns 28,490 shares of the company’s stock worth $908,000 after acquiring an additional 3,197 shares in the last quarter. Hedge funds and other institutional investors 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.