Bank of America Cuts 4D Molecular Therapeutics (NASDAQ:FDMT) Price Target to $40.00

4D Molecular Therapeutics (NASDAQ:FDMT) had its target price lowered by Bank of America from $42.00 to $40.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also weighed in on FDMT. HC Wainwright restated a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a report on Monday, March 3rd. Chardan Capital lowered their price target on 4D Molecular Therapeutics from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Weiss Ratings restated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research note on Friday, March 7th. Royal Bank of Canada reduced their price objective on shares of 4D Molecular Therapeutics from $39.00 to $35.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Finally, Morgan Stanley reduced their price objective on shares of 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating for the company in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, 4D Molecular Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $30.63.

4D Molecular Therapeutics Stock Performance

4D Molecular Therapeutics stock opened at $4.24 on Monday. 4D Molecular Therapeutics has a fifty-two week low of $3.73 and a fifty-two week high of $36.25. The company has a market cap of $196.32 million, a PE ratio of -1.49 and a beta of 2.83. The business’s 50-day simple moving average is $4.97 and its two-hundred day simple moving average is $8.00.

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

Hedge Funds Weigh In On 4D Molecular Therapeutics

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of 4D Molecular Therapeutics by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 2,860,508 shares of the company’s stock worth $15,933,000 after acquiring an additional 92,791 shares during the period. State Street Corp increased its stake in 4D Molecular Therapeutics by 1.8% in the third quarter. State Street Corp now owns 2,116,508 shares of the company’s stock valued at $22,879,000 after purchasing an additional 37,232 shares during the last quarter. Millennium Management LLC boosted its position in shares of 4D Molecular Therapeutics by 1,607.1% in the fourth quarter. Millennium Management LLC now owns 1,420,723 shares of the company’s stock worth $7,913,000 after acquiring an additional 1,337,497 shares during the last quarter. Redmile Group LLC raised its position in shares of 4D Molecular Therapeutics by 17.6% in the 3rd quarter. Redmile Group LLC now owns 1,262,090 shares of the company’s stock worth $13,643,000 after buying an additional 188,655 shares during the period. Finally, Braidwell LP increased its position in 4D Molecular Therapeutics by 231.7% during the 3rd quarter. Braidwell LP now owns 1,225,448 shares of the company’s stock worth $13,247,000 after purchasing an additional 855,990 shares in the last quarter. 99.27% of the stock is 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.