4D Molecular Therapeutics (NASDAQ:FDMT) Earns Sell (D-) Rating from Weiss Ratings

Weiss Ratings reiterated their sell (d-) rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research report released on Saturday morning,Weiss Ratings reports.

FDMT has been the topic of several other reports. HC Wainwright restated a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a report on Monday, January 13th. Bank of America cut their price target on 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Morgan Stanley dropped their target price on 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating on the stock in a research note on Monday, January 13th. Leerink Partners lowered their price target on 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Finally, Royal Bank of Canada reduced their price target on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $38.56.

4D Molecular Therapeutics Stock Performance

Shares of FDMT stock opened at $5.93 on Friday. 4D Molecular Therapeutics has a 52-week low of $4.43 and a 52-week high of $36.25. The firm has a market capitalization of $274.14 million, a P/E ratio of -2.08 and a beta of 2.81. The stock has a 50 day moving average price of $5.97 and a 200 day moving average price of $10.05.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its stake in shares of 4D Molecular Therapeutics by 238.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,543,414 shares of the company’s stock worth $16,684,000 after buying an additional 1,087,147 shares during the period. Braidwell LP lifted its position in shares of 4D Molecular Therapeutics by 231.7% during the 3rd quarter. Braidwell LP now owns 1,225,448 shares of the company’s stock valued at $13,247,000 after acquiring an additional 855,990 shares during the period. Redmile Group LLC lifted its position 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 acquiring an additional 188,655 shares during the period. Peapod Lane Capital LLC acquired a new stake in shares of 4D Molecular Therapeutics during the 4th quarter valued at approximately $806,000. Finally, Novo Holdings A S lifted its position in shares of 4D Molecular Therapeutics by 7.1% during the 3rd quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock valued at $16,215,000 after acquiring an additional 100,000 shares during the period. Hedge funds and other 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.