Royal Bank of Canada Cuts 4D Molecular Therapeutics (NASDAQ:FDMT) Price Target to $35.00

4D Molecular Therapeutics (NASDAQ:FDMT) had its target price lowered by Royal Bank of Canada from $39.00 to $35.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research report on Wednesday, February 19th. Leerink Partners decreased their price target on shares of 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. HC Wainwright reissued a “buy” rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Monday. BMO Capital Markets downgraded shares of 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $40.00 to $15.00 in a research note on Monday, January 13th. Finally, Bank of America decreased their price target on shares of 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, 4D Molecular Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $31.38.

4D Molecular Therapeutics Trading Up 4.8 %

FDMT stock opened at $4.16 on Monday. The company’s 50 day moving average is $5.12 and its 200 day moving average is $8.37. The stock has a market cap of $192.31 million, a price-to-earnings ratio of -1.46 and a beta of 2.81. 4D Molecular Therapeutics has a 1-year low of $3.92 and a 1-year high of $36.25.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 4D Molecular Therapeutics by 7.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,324 shares of the company’s stock valued at $247,000 after acquiring an additional 2,925 shares in the last quarter. Velan Capital Investment Management LP bought a new stake in shares of 4D Molecular Therapeutics during the 4th quarter valued at $56,000. Two Sigma Advisers LP boosted its holdings in shares of 4D Molecular Therapeutics by 452.0% during the 4th quarter. Two Sigma Advisers LP now owns 126,400 shares of the company’s stock valued at $704,000 after buying an additional 103,500 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of 4D Molecular Therapeutics by 196.3% during the 4th quarter. Two Sigma Investments LP now owns 313,993 shares of the company’s stock valued at $1,749,000 after buying an additional 208,021 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of 4D Molecular Therapeutics in the 4th quarter worth about $50,000. 99.27% of the stock is owned by hedge funds and other 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.