4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Shares Sold by Eventide Asset Management LLC

Eventide Asset Management LLC reduced its stake in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 52.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 422,856 shares of the company’s stock after selling 458,301 shares during the period. Eventide Asset Management LLC owned approximately 0.81% of 4D Molecular Therapeutics worth $4,571,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FDMT. Walleye Capital LLC acquired a new stake in 4D Molecular Therapeutics during the 3rd quarter worth about $912,000. Algert Global LLC boosted its position in 4D Molecular Therapeutics by 342.7% in the third quarter. Algert Global LLC now owns 73,436 shares of the company’s stock valued at $794,000 after buying an additional 56,848 shares during the last quarter. Intech Investment Management LLC purchased a new position in 4D Molecular Therapeutics during the 3rd quarter worth approximately $268,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in 4D Molecular Therapeutics during the 3rd quarter valued at approximately $295,000. Finally, Privium Fund Management B.V. boosted its holdings in shares of 4D Molecular Therapeutics by 146.3% in the 3rd quarter. Privium Fund Management B.V. now owns 98,500 shares of the company’s stock valued at $1,065,000 after acquiring an additional 58,500 shares during the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

4D Molecular Therapeutics Price Performance

Shares of FDMT stock opened at $7.84 on Friday. 4D Molecular Therapeutics, Inc. has a 1-year low of $7.32 and a 1-year high of $36.25. The company has a market cap of $362.44 million, a price-to-earnings ratio of -2.75 and a beta of 2.82. The stock has a 50 day simple moving average of $8.83 and a 200-day simple moving average of $15.89.

Analysts Set New Price Targets

FDMT has been the topic of several recent research reports. Chardan Capital reaffirmed a “buy” rating and issued a $39.00 price target on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. Royal Bank of Canada reduced their price target on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. Leerink Partners reaffirmed an “outperform” rating and set a $36.00 price objective (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. Finally, Cantor Fitzgerald cut shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, September 23rd. 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’s stock. According to MarketBeat, 4D Molecular Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $42.13.

4D Molecular Therapeutics 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.