Chardan Capital Reiterates “Buy” Rating for 4D Molecular Therapeutics (NASDAQ:FDMT)

Chardan Capital reaffirmed their buy rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research note published on Thursday,Benzinga reports. Chardan Capital currently has a $39.00 target price on the stock.

Several other equities research analysts also recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Thursday. Royal Bank of Canada decreased their price target on shares of 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday. BMO Capital Markets cut their price objective on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, July 18th. Leerink Partners reaffirmed an “outperform” rating and set a $36.00 target price (down previously from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. Finally, Cantor Fitzgerald downgraded 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, September 23rd. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, 4D Molecular Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

4D Molecular Therapeutics Trading Up 11.8 %

Shares of 4D Molecular Therapeutics stock traded up $0.95 during mid-day trading on Thursday, hitting $8.97. 619,576 shares of the stock were exchanged, compared to its average volume of 889,544. The company has a 50-day simple moving average of $10.43 and a 200 day simple moving average of $17.24. The stock has a market capitalization of $466.17 million, a price-to-earnings ratio of -3.16 and a beta of 2.82. 4D Molecular Therapeutics has a twelve month low of $7.32 and a twelve month high of $36.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FDMT. Entropy Technologies LP acquired a new stake in 4D Molecular Therapeutics in the first quarter worth about $239,000. Healthcare of Ontario Pension Plan Trust Fund lifted 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 acquiring an additional 65,000 shares during the period. Kennedy Capital Management LLC acquired a new stake in shares of 4D Molecular Therapeutics in the 1st quarter worth approximately $4,358,000. Sofinnova Investments Inc. increased its stake in shares of 4D Molecular Therapeutics by 36.8% during the second quarter. Sofinnova Investments Inc. now owns 271,155 shares of the company’s stock valued at $5,692,000 after acquiring an additional 72,969 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in 4D Molecular Therapeutics by 702.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock worth $110,000 after purchasing an additional 3,026 shares in the last quarter. 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.