Short Interest in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Rises By 8.8%

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) was the recipient of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 8,520,000 shares, a growth of 8.8% from the November 15th total of 7,830,000 shares. Based on an average daily volume of 894,400 shares, the days-to-cover ratio is currently 9.5 days.

4D Molecular Therapeutics Price Performance

FDMT stock traded down $0.13 on Tuesday, reaching $6.35. The company’s stock had a trading volume of 601,552 shares, compared to its average volume of 884,071. 4D Molecular Therapeutics has a 52 week low of $6.28 and a 52 week high of $36.25. The company has a market capitalization of $293.55 million, a P/E ratio of -2.24 and a beta of 2.74. The firm has a fifty day moving average of $8.03 and a two-hundred day moving average of $14.34.

Wall Street Analyst Weigh In

Several analysts have weighed in on FDMT shares. Chardan Capital reiterated a “buy” rating and set a $39.00 target price on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. Leerink Partners reaffirmed an “outperform” rating and set a $36.00 price objective (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th. Royal Bank of Canada cut their target price on shares of 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, November 14th. Cantor Fitzgerald lowered 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, September 23rd. Finally, HC Wainwright reissued a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. One 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 data from MarketBeat.com, 4D Molecular Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $42.13.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of FDMT. Assenagon Asset Management S.A. raised its position in shares of 4D Molecular Therapeutics by 6.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 456,267 shares of the company’s stock worth $9,577,000 after buying an additional 25,711 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in 4D Molecular Therapeutics by 5,735.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 96,698 shares of the company’s stock valued at $2,030,000 after purchasing an additional 95,041 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of 4D Molecular Therapeutics by 28.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 169,413 shares of the company’s stock valued at $3,556,000 after purchasing an additional 38,015 shares during the period. Panagora Asset Management Inc. raised its stake in shares of 4D Molecular Therapeutics by 247.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 354,857 shares of the company’s stock worth $7,448,000 after buying an additional 252,789 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of 4D Molecular Therapeutics by 9.6% in the second quarter. Principal Financial Group Inc. now owns 21,034 shares of the company’s stock valued at $442,000 after buying an additional 1,849 shares during the period. 99.27% of the stock is currently owned by institutional investors.

About 4D Molecular Therapeutics

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.