Chardan Capital Has Lowered Expectations for 4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price

4D Molecular Therapeutics (NASDAQ:FDMT) had its price objective cut by stock analysts at Chardan Capital from $39.00 to $30.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets downgraded shares of 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $40.00 to $15.00 in a research report on Monday, January 13th. Morgan Stanley dropped their price objective on 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating for the company in a report on Monday, January 13th. HC Wainwright reissued a “buy” rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Monday. Leerink Partners dropped their price target on 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Finally, Bank of America cut their price objective on shares of 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, 4D Molecular Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $32.13.

4D Molecular Therapeutics Stock Down 0.7 %

Shares of 4D Molecular Therapeutics stock opened at $4.55 on Tuesday. The stock has a market capitalization of $210.34 million, a price-to-earnings ratio of -1.60 and a beta of 2.81. 4D Molecular Therapeutics has a twelve month low of $4.41 and a twelve month high of $36.25. The company has a 50-day simple moving average of $5.69 and a two-hundred day simple moving average of $9.53.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. grew its holdings in shares of 4D Molecular Therapeutics by 238.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,543,414 shares of the company’s stock valued at $16,684,000 after purchasing an additional 1,087,147 shares during the last quarter. Braidwell LP boosted its position 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 buying an additional 855,990 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of 4D Molecular Therapeutics by 159.5% during the fourth quarter. JPMorgan Chase & Co. now owns 820,069 shares of the company’s stock worth $4,568,000 after buying an additional 504,086 shares during the last quarter. Norges Bank acquired a new position in shares of 4D Molecular Therapeutics during the fourth quarter worth $2,790,000. Finally, Redmile Group LLC increased its holdings in shares of 4D Molecular Therapeutics by 17.6% during the third quarter. Redmile Group LLC now owns 1,262,090 shares of the company’s stock worth $13,643,000 after buying an additional 188,655 shares in the last quarter. Institutional investors own 99.27% of the company’s stock.

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.