4D Molecular Therapeutics (NASDAQ:FDMT) Cut to “Market Perform” at BMO Capital Markets

BMO Capital Markets downgraded shares of 4D Molecular Therapeutics (NASDAQ:FDMT) from an outperform rating to a market perform rating in a report issued on Monday morning, Marketbeat reports. The firm currently has $15.00 target price on the stock, down from their prior target price of $40.00.

A number of other research firms have also commented on FDMT. Chardan Capital restated a “buy” rating and issued a $39.00 price target on shares of 4D Molecular Therapeutics in a research report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Monday. Leerink Partners restated an “outperform” rating and set a $36.00 price target (down from $40.00) on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th. Morgan Stanley began coverage on 4D Molecular Therapeutics in a research report on Thursday, November 21st. They issued an “underweight” rating and a $8.00 price objective for the company. Finally, Royal Bank of Canada decreased their target price 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.56.

4D Molecular Therapeutics Stock Performance

Shares of NASDAQ:FDMT opened at $5.04 on Monday. The company’s fifty day moving average is $6.87 and its 200-day moving average is $11.77. 4D Molecular Therapeutics has a 52 week low of $4.68 and a 52 week high of $36.25. The company has a market capitalization of $232.99 million, a PE ratio of -1.77 and a beta of 2.81.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Several large investors have recently made changes to their positions in FDMT. State Street Corp raised its holdings in 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 purchasing an additional 37,232 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of 4D Molecular Therapeutics by 238.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,543,414 shares of the company’s stock worth $16,684,000 after purchasing an additional 1,087,147 shares during the last quarter. Novo Holdings A S grew its stake in shares of 4D Molecular Therapeutics by 7.1% during the third 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 during the period. Redmile Group LLC increased its holdings in 4D Molecular Therapeutics by 17.6% in the third quarter. Redmile Group LLC now owns 1,262,090 shares of the company’s stock valued at $13,643,000 after purchasing an additional 188,655 shares during the last quarter. Finally, Braidwell LP increased its holdings in 4D Molecular Therapeutics by 231.7% in the third 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 during 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.