4D Molecular Therapeutics (NASDAQ:FDMT) Earns Buy Rating from HC Wainwright

4D Molecular Therapeutics (NASDAQ:FDMT)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They presently have a $36.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 353.97% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Royal Bank of Canada cut their price objective on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday. BMO Capital Markets reduced their price target 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 reissued 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. Cantor Fitzgerald downgraded shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, September 23rd. Finally, Chardan Capital lifted their price target on shares of 4D Molecular Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, 4D Molecular Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

4D Molecular Therapeutics Price Performance

4D Molecular Therapeutics stock traded up $0.22 during mid-day trading on Thursday, reaching $7.93. 389,091 shares of the company traded hands, compared to its average volume of 884,735. The firm’s 50 day moving average price is $10.58 and its 200 day moving average price is $17.31. 4D Molecular Therapeutics has a 52-week low of $7.32 and a 52-week high of $36.25. The firm has a market capitalization of $412.12 million, a price-to-earnings ratio of -3.46 and a beta of 2.82.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. RA Capital Management L.P. raised its holdings in 4D Molecular Therapeutics by 21.3% in the 1st quarter. RA Capital Management L.P. now owns 5,051,511 shares of the company’s stock worth $160,941,000 after acquiring an additional 888,300 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of 4D Molecular Therapeutics by 3.4% during the first quarter. Janus Henderson Group PLC now owns 3,197,444 shares of the company’s stock valued at $101,844,000 after purchasing an additional 104,148 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of 4D Molecular Therapeutics by 25.3% during the first quarter. Vanguard Group Inc. now owns 2,339,943 shares of the company’s stock valued at $74,551,000 after buying an additional 473,094 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of 4D Molecular Therapeutics by 238.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,543,414 shares of the company’s stock worth $16,684,000 after acquiring an additional 1,087,147 shares during the period. Finally, Novo Holdings A S grew its position in 4D Molecular Therapeutics by 7.1% in the 3rd 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. 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.