ArrowMark Colorado Holdings LLC Cuts Stock Position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

ArrowMark Colorado Holdings LLC lessened its stake in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 5.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 803,490 shares of the company’s stock after selling 46,711 shares during the quarter. ArrowMark Colorado Holdings LLC’s holdings in 4D Molecular Therapeutics were worth $8,686,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund raised its stake in 4D Molecular Therapeutics by 10.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 706,000 shares of the company’s stock valued at $14,819,000 after acquiring an additional 65,000 shares during the last quarter. Sofinnova Investments Inc. lifted its holdings in shares of 4D Molecular Therapeutics by 36.8% in the second quarter. Sofinnova Investments Inc. now owns 271,155 shares of the company’s stock valued at $5,692,000 after purchasing an additional 72,969 shares in the last quarter. Novo Holdings A S grew its holdings in 4D Molecular Therapeutics by 7.1% during the 3rd quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock valued at $16,215,000 after buying an additional 100,000 shares during the last quarter. Vanguard Group Inc. increased its position in 4D Molecular Therapeutics by 25.3% during the 1st quarter. Vanguard Group Inc. now owns 2,339,943 shares of the company’s stock worth $74,551,000 after purchasing an additional 473,094 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of 4D Molecular Therapeutics by 28.9% in the second quarter. Bank of New York Mellon Corp now owns 169,413 shares of the company’s stock valued at $3,556,000 after buying an additional 38,015 shares during the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on FDMT. HC Wainwright restated a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. Royal Bank of Canada cut their price target 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. Cantor Fitzgerald downgraded 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, September 23rd. Morgan Stanley assumed coverage on 4D Molecular Therapeutics in a report on Thursday, November 21st. They issued an “underweight” rating and a $8.00 price target on the stock. Finally, Leerink Partners restated an “outperform” rating and issued a $36.00 price target (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, 4D Molecular Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $42.13.

4D Molecular Therapeutics Price Performance

FDMT stock opened at $7.59 on Tuesday. 4D Molecular Therapeutics, Inc. has a 12 month low of $7.32 and a 12 month high of $36.25. The firm has a 50 day simple moving average of $8.83 and a 200 day simple moving average of $15.75. The firm has a market cap of $350.87 million, a PE ratio of -2.66 and a beta of 2.82.

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.