4D Molecular Therapeutics’ (FDMT) Sell (E+) Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their sell (e+) rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research note released on Saturday,Weiss Ratings reports.

Several other research firms also recently issued reports on FDMT. HC Wainwright reissued a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Monday, March 3rd. Bank of America cut their price objective 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. Leerink Partners reduced their price objective on 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Morgan Stanley dropped their target price on 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating on the stock in a research report on Monday, January 13th. Finally, Chardan Capital reduced their price target on shares of 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, 4D Molecular Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $30.63.

4D Molecular Therapeutics Stock Performance

Shares of FDMT stock opened at $3.93 on Friday. 4D Molecular Therapeutics has a fifty-two week low of $3.58 and a fifty-two week high of $36.25. The firm has a market capitalization of $181.97 million, a price-to-earnings ratio of -1.38 and a beta of 2.83. The stock’s 50-day simple moving average is $4.68 and its 200-day simple moving average is $7.30.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its earnings results 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, equities analysts forecast that 4D Molecular Therapeutics will post -2.84 earnings per share for the current year.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in FDMT. Millennium Management LLC boosted its holdings in 4D Molecular Therapeutics by 1,607.1% during the fourth 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 raised its position in shares of 4D Molecular Therapeutics by 231.7% in the third quarter. Braidwell LP now owns 1,225,448 shares of the company’s stock worth $13,247,000 after acquiring an additional 855,990 shares during the period. JPMorgan Chase & Co. grew its position in shares of 4D Molecular Therapeutics by 159.5% during the 4th quarter. JPMorgan Chase & Co. now owns 820,069 shares of the company’s stock valued at $4,568,000 after acquiring an additional 504,086 shares during the period. Norges Bank acquired a new stake in shares of 4D Molecular Therapeutics during the 4th 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 4th quarter. Cubist Systematic Strategies LLC now owns 448,831 shares of the company’s stock valued at $2,500,000 after acquiring an additional 428,285 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

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.