HC Wainwright Reiterates “Buy” Rating for 4D Molecular Therapeutics (NASDAQ:FDMT)

4D Molecular Therapeutics (NASDAQ:FDMT)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $36.00 price target on the stock.

A number of other equities analysts have also weighed in on FDMT. 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 on the stock in a report on Thursday, November 14th. Bank of America cut their target price on shares of 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Leerink Partners cut their target price on shares of 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. BMO Capital Markets downgraded shares of 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and cut their target price for the company from $40.00 to $15.00 in a research note on Monday, January 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research note on Saturday, February 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.13.

4D Molecular Therapeutics Stock Down 13.9 %

Shares of FDMT opened at $4.58 on Monday. The firm has a market cap of $211.73 million, a PE ratio of -1.61 and a beta of 2.81. The company’s fifty day moving average is $5.74 and its two-hundred day moving average is $9.56. 4D Molecular Therapeutics has a fifty-two week low of $4.43 and a fifty-two week high of $36.25.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of 4D Molecular Therapeutics by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 2,860,508 shares of the company’s stock valued at $15,933,000 after buying an additional 92,791 shares during the last quarter. State Street Corp grew its position in shares of 4D Molecular Therapeutics by 1.8% during the 3rd quarter. State Street Corp now owns 2,116,508 shares of the company’s stock valued at $22,879,000 after buying an additional 37,232 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of 4D Molecular Therapeutics by 238.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,543,414 shares of the company’s stock valued at $16,684,000 after buying an additional 1,087,147 shares during the last quarter. Novo Holdings A S grew 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 buying an additional 100,000 shares during the last quarter. Finally, Redmile Group LLC grew 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 buying an additional 188,655 shares during the last quarter. 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.