4D Molecular Therapeutics (NASDAQ:FDMT) Coverage Initiated at Morgan Stanley

Stock analysts at Morgan Stanley assumed coverage on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The brokerage set an “underweight” rating and a $8.00 price target on the stock. Morgan Stanley’s price target suggests a potential downside of 4.88% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Chardan Capital reiterated a “buy” rating and set a $39.00 price target on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. Cantor Fitzgerald lowered shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, September 23rd. Royal Bank of Canada reduced their price target on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, November 14th. Leerink Partners reiterated an “outperform” rating and issued a $36.00 price objective (down previously from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. Finally, HC Wainwright restated a “buy” rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, 4D Molecular Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.13.

4D Molecular Therapeutics Price Performance

Shares of 4D Molecular Therapeutics stock opened at $8.41 on Thursday. 4D Molecular Therapeutics has a one year low of $7.32 and a one year high of $36.25. The business’s 50 day simple moving average is $9.88 and its two-hundred day simple moving average is $16.72. The stock has a market capitalization of $388.79 million, a P/E ratio of -2.95 and a beta of 2.82.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of FDMT. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of 4D Molecular Therapeutics by 10.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 706,000 shares of the company’s stock worth $14,819,000 after buying an additional 65,000 shares during the last quarter. Kennedy Capital Management LLC bought a new position in shares of 4D Molecular Therapeutics during the first quarter valued at $4,358,000. Sofinnova Investments Inc. raised its position in shares of 4D Molecular Therapeutics by 36.8% in the 2nd quarter. Sofinnova Investments Inc. now owns 271,155 shares of the company’s stock worth $5,692,000 after purchasing an additional 72,969 shares during the last quarter. Novo Holdings A S boosted its stake in 4D Molecular Therapeutics by 7.1% in the 3rd quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock worth $16,215,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in 4D Molecular Therapeutics by 25.3% during the 1st quarter. Vanguard Group Inc. now owns 2,339,943 shares of the company’s stock valued at $74,551,000 after purchasing an additional 473,094 shares in the last quarter. Hedge funds and other 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.