Royal Bank of Canada Has Lowered Expectations for 4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price

4D Molecular Therapeutics (NASDAQ:FDMT) had its price target cut by Royal Bank of Canada from $40.00 to $39.00 in a research note published on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. Leerink Partners reiterated an “outperform” rating and issued a $36.00 price target (down previously from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. BMO Capital Markets reduced their price objective on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, July 18th. Chardan Capital increased their price target on 4D Molecular Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Cantor Fitzgerald downgraded 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a 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 stock. According to data from MarketBeat.com, 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 %

FDMT stock opened at $8.83 on Thursday. The firm has a market cap of $458.90 million, a price-to-earnings ratio of -3.10 and a beta of 2.82. 4D Molecular Therapeutics has a twelve month low of $7.32 and a twelve month high of $36.25. The business’s fifty day simple moving average is $10.30 and its two-hundred day simple moving average is $17.09.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. nVerses Capital LLC bought a new stake in 4D Molecular Therapeutics during the third quarter valued at about $40,000. Values First Advisors Inc. purchased a new stake in shares of 4D Molecular Therapeutics during the third quarter valued at about $57,000. China Universal Asset Management Co. Ltd. lifted its position in shares of 4D Molecular Therapeutics by 64.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,995 shares of the company’s stock valued at $108,000 after buying an additional 3,922 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of 4D Molecular Therapeutics in the 3rd quarter valued at about $108,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of 4D Molecular Therapeutics by 702.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock worth $110,000 after buying an additional 3,026 shares during the last quarter. 99.27% of the stock is owned by institutional investors.

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.