4D Molecular Therapeutics (NASDAQ:FDMT) Earns “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research report released on Monday morning,Benzinga reports. The brokerage currently has a $36.00 target price on the stock. HC Wainwright also issued estimates for 4D Molecular Therapeutics’ FY2029 earnings at ($1.81) EPS.

A number of other equities analysts have also commented on FDMT. Leerink Partners reissued an “outperform” rating and issued a $36.00 price objective (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. Cantor Fitzgerald lowered shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, September 23rd. Royal Bank of Canada dropped their target price 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. Chardan Capital reissued a “buy” rating and set a $39.00 price target on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. Finally, Morgan Stanley assumed coverage on shares of 4D Molecular Therapeutics in a report on Thursday, November 21st. They issued an “underweight” rating and a $8.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $38.56.

4D Molecular Therapeutics Price Performance

Shares of FDMT opened at $5.04 on Monday. The company has a market capitalization of $232.99 million, a P/E ratio of -1.77 and a beta of 2.81. 4D Molecular Therapeutics has a one year low of $4.68 and a one year high of $36.25. The business’s 50 day simple moving average is $6.87 and its 200-day simple moving average is $11.77.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in 4D Molecular Therapeutics by 10.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 706,000 shares of the company’s stock valued at $14,819,000 after purchasing an additional 65,000 shares during the last quarter. Sofinnova Investments Inc. increased its stake in shares of 4D Molecular Therapeutics by 36.8% in the 2nd quarter. Sofinnova Investments Inc. now owns 271,155 shares of the company’s stock valued at $5,692,000 after acquiring an additional 72,969 shares during the last quarter. Novo Holdings A S increased its stake in shares of 4D Molecular Therapeutics by 7.1% in the 3rd quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock valued at $16,215,000 after acquiring an additional 100,000 shares during the last quarter. Barclays PLC raised its position in shares of 4D Molecular Therapeutics by 141.0% in the 3rd quarter. Barclays PLC now owns 114,848 shares of the company’s stock valued at $1,241,000 after acquiring an additional 67,202 shares during the period. Finally, nVerses Capital LLC bought a new position in 4D Molecular Therapeutics during the 3rd quarter worth approximately $40,000. 99.27% of the stock is currently 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.