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

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

Several other equities analysts have also recently weighed in on FDMT. BMO Capital Markets decreased their price objective on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. Chardan Capital upped their target price on 4D Molecular Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Leerink Partners reissued an “outperform” rating and set a $36.00 price target (down previously from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th. Finally, Cantor Fitzgerald lowered 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, September 23rd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, 4D Molecular Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

4D Molecular Therapeutics Stock Performance

Shares of NASDAQ FDMT traded up $0.99 during trading on Thursday, reaching $9.01. The company had a trading volume of 862,469 shares, compared to its average volume of 890,531. The stock has a market cap of $468.25 million, a PE ratio of -3.16 and a beta of 2.82. 4D Molecular Therapeutics has a 52 week low of $7.32 and a 52 week high of $36.25. The business’s 50 day moving average price is $10.43 and its 200-day moving average price is $17.24.

Institutional Trading of 4D Molecular Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in shares of 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 valued at $110,000 after buying an additional 3,026 shares during the period. nVerses Capital LLC purchased a new stake in 4D Molecular Therapeutics during the 3rd quarter worth approximately $40,000. Values First Advisors Inc. acquired a new position in shares of 4D Molecular Therapeutics in the third quarter valued at about $57,000. Quest Partners LLC raised its holdings in shares of 4D Molecular Therapeutics by 17,409.1% during the second quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock worth $121,000 after purchasing an additional 5,745 shares during the last quarter. Finally, Entropy Technologies LP purchased a new position in 4D Molecular Therapeutics during the first quarter valued at approximately $239,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

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.