Bank of America Has Lowered Expectations for 4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price

4D Molecular Therapeutics (NASDAQ:FDMT) had its price objective cut by investment analysts at Bank of America from $42.00 to $40.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Chardan Capital cut their price objective on shares of 4D Molecular Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Leerink Partners dropped their target price on shares of 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. BMO Capital Markets lowered shares of 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $40.00 to $15.00 in a research note on Monday, January 13th. Royal Bank of Canada dropped their price objective on 4D Molecular Therapeutics from $39.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Finally, Morgan Stanley cut their price objective on shares of 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $30.63.

4D Molecular Therapeutics Stock Performance

NASDAQ:FDMT traded down $0.18 during mid-day trading on Monday, reaching $3.90. 374,849 shares of the company’s stock were exchanged, compared to its average volume of 797,458. 4D Molecular Therapeutics has a one year low of $3.90 and a one year high of $36.25. The business’s fifty day simple moving average is $5.05 and its two-hundred day simple moving average is $8.17. The firm has a market capitalization of $180.35 million, a PE ratio of -1.37 and a beta of 2.83.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued 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, equities research analysts forecast that 4D Molecular Therapeutics will post -2.84 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in 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 acquiring an additional 92,791 shares in the last quarter. State Street Corp lifted its holdings in shares of 4D Molecular Therapeutics by 1.8% during the 3rd quarter. State Street Corp now owns 2,116,508 shares of the company’s stock worth $22,879,000 after acquiring an additional 37,232 shares during the period. Millennium Management LLC increased its stake 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 acquiring an additional 1,337,497 shares during the last quarter. Redmile Group LLC boosted its position in 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 period. Finally, Braidwell LP grew its holdings in 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 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.