4D Molecular Therapeutics (NASDAQ:FDMT) Price Target Lowered to $39.00 at Royal Bank of Canada

4D Molecular Therapeutics (NASDAQ:FDMT) had its price target reduced by Royal Bank of Canada from $40.00 to $39.00 in a research note released on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also recently commented on the company. Chardan Capital increased their target price on 4D Molecular Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. BMO Capital Markets reduced their target price on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, July 18th. Leerink Partners restated an “outperform” rating and issued a $36.00 price target (down from $40.00) on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th. Finally, Cantor Fitzgerald cut shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, 4D Molecular Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

4D Molecular Therapeutics Price Performance

FDMT stock traded up $0.99 during mid-day trading on Thursday, hitting $9.01. 862,469 shares of the stock were exchanged, compared to its average volume of 890,531. The business has a fifty day moving average price of $10.43 and a 200 day moving average price of $17.24. 4D Molecular Therapeutics has a 12 month low of $7.32 and a 12 month high of $36.25. The stock has a market capitalization of $468.25 million, a price-to-earnings ratio of -3.16 and a beta of 2.82.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Redmile Group LLC grew its stake in shares of 4D Molecular Therapeutics by 17.6% during the 3rd quarter. Redmile Group LLC now owns 1,262,090 shares of the company’s stock valued at $13,643,000 after buying an additional 188,655 shares during the period. Point72 Asset Management L.P. bought a new position in 4D Molecular Therapeutics during the 3rd quarter worth $166,000. Braidwell LP grew its position in 4D Molecular Therapeutics by 231.7% in the 3rd 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. Walleye Capital LLC acquired a new stake in 4D Molecular Therapeutics in the 3rd quarter valued at about $912,000. Finally, Algert Global LLC increased its stake in 4D Molecular Therapeutics by 342.7% in the 3rd quarter. Algert Global LLC now owns 73,436 shares of the company’s stock worth $794,000 after purchasing an additional 56,848 shares in the last quarter. Hedge funds and other 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.