4D Molecular Therapeutics (NASDAQ:FDMT) Given New $28.00 Price Target at Chardan Capital

4D Molecular Therapeutics (NASDAQ:FDMT) had its price objective lowered by Chardan Capital from $30.00 to $28.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a report on Wednesday, February 19th. BMO Capital Markets downgraded 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $40.00 to $15.00 in a research note on Monday, January 13th. Bank of America cut their price target on 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Finally, Leerink Partners lowered their price target 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.38.

4D Molecular Therapeutics Trading Down 8.6 %

Shares of FDMT stock opened at $4.14 on Tuesday. The company has a market capitalization of $191.38 million, a price-to-earnings ratio of -1.45 and a beta of 2.81. 4D Molecular Therapeutics has a 1-year low of $4.12 and a 1-year high of $36.25. The stock’s fifty day simple moving average is $5.19 and its 200-day simple moving average is $8.48.

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). On average, sell-side analysts predict that 4D Molecular Therapeutics will post -2.84 EPS for the current year.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of 4D Molecular Therapeutics by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 2,860,508 shares of the company’s stock worth $15,933,000 after buying an additional 92,791 shares during the last quarter. State Street Corp boosted its holdings in 4D Molecular Therapeutics by 1.8% during the third quarter. State Street Corp now owns 2,116,508 shares of the company’s stock valued at $22,879,000 after acquiring an additional 37,232 shares during the period. Millennium Management LLC grew 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 valued at $7,913,000 after purchasing an additional 1,337,497 shares during the last quarter. Redmile Group LLC lifted 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 worth $13,643,000 after purchasing an additional 188,655 shares during the last quarter. Finally, Braidwell LP grew its stake 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 last quarter. Institutional investors 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.