Short Interest in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Decreases By 15.1%

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) was the recipient of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 5,240,000 shares, a decrease of 15.1% from the February 13th total of 6,170,000 shares. Based on an average daily trading volume, of 906,600 shares, the days-to-cover ratio is presently 5.8 days. Currently, 12.2% of the shares of the company are short sold.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of institutional investors have recently bought and sold shares of FDMT. Millennium Management LLC increased its stake in 4D Molecular Therapeutics by 1,607.1% in the 4th quarter. Millennium Management LLC now owns 1,420,723 shares of the company’s stock worth $7,913,000 after buying an additional 1,337,497 shares in the last quarter. Braidwell LP grew its position in shares of 4D Molecular Therapeutics by 231.7% during the third quarter. Braidwell LP now owns 1,225,448 shares of the company’s stock valued at $13,247,000 after purchasing an additional 855,990 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of 4D Molecular Therapeutics by 159.5% during the fourth quarter. JPMorgan Chase & Co. now owns 820,069 shares of the company’s stock valued at $4,568,000 after purchasing an additional 504,086 shares in the last quarter. Norges Bank purchased a new position in shares of 4D Molecular Therapeutics during the fourth quarter valued at about $2,790,000. Finally, Cubist Systematic Strategies LLC grew its position in shares of 4D Molecular Therapeutics by 2,084.5% during the fourth quarter. Cubist Systematic Strategies LLC now owns 448,831 shares of the company’s stock valued at $2,500,000 after purchasing an additional 428,285 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

4D Molecular Therapeutics Stock Performance

Shares of FDMT stock opened at $3.82 on Wednesday. 4D Molecular Therapeutics has a 52-week low of $3.73 and a 52-week high of $36.25. The firm has a market capitalization of $176.87 million, a PE ratio of -1.34 and a beta of 2.83. The stock has a fifty day simple moving average of $4.81 and a two-hundred day simple moving average of $7.62.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its quarterly earnings results on Friday, February 28th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.10). On average, sell-side analysts forecast that 4D Molecular Therapeutics will post -2.84 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Morgan Stanley lowered their price target on 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating on the stock in a report on Monday, January 13th. Chardan Capital lowered their price target on 4D Molecular Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. HC Wainwright reissued a “buy” rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a report on Monday, March 3rd. Bank of America lowered their price target on 4D Molecular Therapeutics from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Finally, Leerink Partners lowered their price target on 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.63.

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.