4D Molecular Therapeutics’ (FDMT) Buy Rating Reaffirmed at HC Wainwright

4D Molecular Therapeutics (NASDAQ:FDMT)‘s stock had its “buy” rating restated by HC Wainwright in a report issued on Thursday,Benzinga reports. They currently have a $36.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 353.97% from the company’s current price.

A number of other research firms have also recently commented on FDMT. Royal Bank of Canada lowered their price target on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday. Leerink Partners reissued an “outperform” rating and issued a $36.00 target price (down previously from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. Chardan Capital raised their target price on shares of 4D Molecular Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Cantor Fitzgerald downgraded shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, September 23rd. Finally, BMO Capital Markets cut their price objective on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, July 18th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

4D Molecular Therapeutics Price Performance

Shares of NASDAQ:FDMT 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 company’s 50 day moving average price is $10.58 and its 200-day moving average price is $17.31. The firm has a market cap of $412.12 million, a PE ratio of -3.46 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.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its holdings in 4D Molecular Therapeutics by 702.1% during the 1st 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 position in shares of 4D Molecular Therapeutics during the 3rd quarter worth about $40,000. Values First Advisors Inc. bought a new position in 4D Molecular Therapeutics during the 3rd quarter valued at about $57,000. Quest Partners LLC raised its position in 4D Molecular Therapeutics by 17,409.1% in the 2nd 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 period. Finally, Entropy Technologies LP bought a new stake in 4D Molecular Therapeutics in the first quarter worth about $239,000. 99.27% of the stock is owned by 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.