4D Molecular Therapeutics (NASDAQ:FDMT) Price Target Lowered to $27.00 at Leerink Partners

4D Molecular Therapeutics (NASDAQ:FDMT) had its target price dropped by research analysts at Leerink Partners from $31.00 to $27.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Leerink Partners’ target price suggests a potential upside of 462.50% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. Royal Bank of Canada lowered their target price on shares of 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research note on Monday. BMO Capital Markets cut 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $40.00 to $15.00 in a report on Monday. Morgan Stanley cut their price objective on 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating for the company in a research report on Monday. Finally, Bank of America decreased their target price on 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, 4D Molecular Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $38.56.

4D Molecular Therapeutics Stock Performance

NASDAQ FDMT traded down $0.72 during trading hours on Monday, hitting $4.80. 528,240 shares of the company traded hands, compared to its average volume of 682,908. The stock has a market capitalization of $221.89 million, a price-to-earnings ratio of -1.68 and a beta of 2.81. 4D Molecular Therapeutics has a twelve month low of $4.68 and a twelve month high of $36.25. The business’s 50-day moving average is $7.00 and its 200-day moving average is $11.99.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of FDMT. nVerses Capital LLC bought a new stake in 4D Molecular Therapeutics in the 3rd quarter valued at about $40,000. Values First Advisors Inc. acquired a new stake in shares of 4D Molecular Therapeutics in the third quarter valued at approximately $57,000. Quest Partners LLC boosted its stake in shares of 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 buying an additional 5,745 shares during the period. China Universal Asset Management Co. Ltd. grew its position in 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 worth $108,000 after buying an additional 3,922 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in 4D Molecular Therapeutics during the 3rd quarter worth $108,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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.