Braidwell LP Buys 855,990 Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Braidwell LP boosted its stake in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 231.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,225,448 shares of the company’s stock after acquiring an additional 855,990 shares during the quarter. Braidwell LP owned about 2.36% of 4D Molecular Therapeutics worth $13,247,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its stake in 4D Molecular Therapeutics by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,952 shares of the company’s stock worth $764,000 after acquiring an additional 1,356 shares during the last quarter. Principal Financial Group Inc. increased its stake in 4D Molecular Therapeutics by 9.6% during the second quarter. Principal Financial Group Inc. now owns 21,034 shares of the company’s stock worth $442,000 after acquiring an additional 1,849 shares during the last quarter. Algert Global LLC increased its stake in 4D Molecular Therapeutics by 20.6% during the second quarter. Algert Global LLC now owns 16,588 shares of the company’s stock worth $348,000 after acquiring an additional 2,828 shares during the last quarter. California State Teachers Retirement System increased its stake in 4D Molecular Therapeutics by 12.6% during the first quarter. California State Teachers Retirement System now owns 28,490 shares of the company’s stock worth $908,000 after acquiring an additional 3,197 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of 4D Molecular Therapeutics during the third quarter valued at approximately $40,000. 99.27% of the stock is owned by institutional investors.

4D Molecular Therapeutics Stock Up 4.9 %

Shares of NASDAQ FDMT opened at $7.87 on Friday. The stock’s fifty day simple moving average is $9.03 and its two-hundred day simple moving average is $16.07. 4D Molecular Therapeutics, Inc. has a 12-month low of $7.32 and a 12-month high of $36.25.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Cantor Fitzgerald lowered 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, September 23rd. HC Wainwright restated a “buy” rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Thursday, November 14th. Royal Bank of Canada dropped their target price 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. Morgan Stanley assumed coverage on 4D Molecular Therapeutics in a research note on Thursday, November 21st. They issued an “underweight” rating and a $8.00 price objective on the stock. Finally, Leerink Partners reissued an “outperform” rating and issued a $36.00 price objective (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, 4D Molecular Therapeutics has a consensus rating of “Moderate Buy” and a consensus 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.