4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Stock Position Cut by Sphera Funds Management LTD.

Sphera Funds Management LTD. lessened its stake in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 79.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,702 shares of the company’s stock after selling 193,824 shares during the period. Sphera Funds Management LTD.’s holdings in 4D Molecular Therapeutics were worth $526,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp grew its position in 4D Molecular Therapeutics by 1.8% in the 3rd quarter. State Street Corp now owns 2,116,508 shares of the company’s stock valued at $22,879,000 after buying an additional 37,232 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of 4D Molecular Therapeutics by 238.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,543,414 shares of the company’s stock valued at $16,684,000 after purchasing an additional 1,087,147 shares in the last quarter. Novo Holdings A S boosted its position in shares of 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 purchasing an additional 100,000 shares in the last quarter. Redmile Group LLC boosted its position in shares of 4D Molecular Therapeutics by 17.6% during the 3rd quarter. Redmile Group LLC now owns 1,262,090 shares of the company’s stock valued at $13,643,000 after purchasing an additional 188,655 shares in the last quarter. Finally, Braidwell LP boosted its position in shares of 4D Molecular Therapeutics by 231.7% during the 3rd quarter. Braidwell LP now owns 1,225,448 shares of the company’s stock valued at $13,247,000 after purchasing an additional 855,990 shares in the last quarter. Institutional investors own 99.27% of the company’s stock.

4D Molecular Therapeutics Price Performance

NASDAQ FDMT opened at $7.14 on Thursday. The company has a 50 day simple moving average of $8.66 and a 200-day simple moving average of $15.50. 4D Molecular Therapeutics, Inc. has a 52-week low of $6.95 and a 52-week high of $36.25.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FDMT shares. Royal Bank of Canada reduced their price objective on shares of 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. Morgan Stanley started coverage on shares of 4D Molecular Therapeutics in a research report on Thursday, November 21st. They set an “underweight” rating and a $8.00 price objective for the company. Leerink Partners reaffirmed an “outperform” rating and set a $36.00 price objective (down from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. Chardan Capital reaffirmed a “buy” rating and set a $39.00 price objective on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently 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.