Morgan Stanley Begins Coverage on 4D Molecular Therapeutics (NASDAQ:FDMT)

Morgan Stanley initiated coverage on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research report sent to investors on Thursday, Marketbeat Ratings reports. The brokerage issued an underweight rating and a $8.00 price objective on the stock.

FDMT has been the subject of a number of other research reports. Chardan Capital reissued a “buy” rating and set a $39.00 target price on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. 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, November 14th. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. Cantor Fitzgerald downgraded shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, September 23rd. Finally, Leerink Partners reaffirmed an “outperform” rating and issued a $36.00 price target (down from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.13.

4D Molecular Therapeutics Stock Down 1.5 %

Shares of NASDAQ FDMT opened at $7.87 on Thursday. 4D Molecular Therapeutics has a twelve month low of $7.32 and a twelve month high of $36.25. The firm has a fifty day simple moving average of $9.72 and a 200 day simple moving average of $16.66. The company has a market capitalization of $363.83 million, a PE ratio of -2.80 and a beta of 2.82.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC purchased a new position in 4D Molecular Therapeutics during the third quarter worth about $40,000. Values First Advisors Inc. purchased a new position in 4D Molecular Therapeutics in the third quarter valued at about $57,000. China Universal Asset Management Co. Ltd. boosted its stake in 4D Molecular Therapeutics by 64.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,995 shares of the company’s stock valued at $108,000 after acquiring an additional 3,922 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in 4D Molecular Therapeutics in the third quarter valued at about $108,000. Finally, Quest Partners LLC boosted its stake in 4D Molecular Therapeutics by 17,409.1% in the second quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock valued at $121,000 after acquiring an additional 5,745 shares during the last quarter. 99.27% of the stock is owned by 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.