4D Molecular Therapeutics (NASDAQ:FDMT) Price Target Cut to $46.00 by Analysts at Bank of America

4D Molecular Therapeutics (NASDAQ:FDMT) had its target price cut by Bank of America from $79.00 to $46.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently commented on FDMT. Chardan Capital reiterated a “buy” rating and issued a $39.00 target price on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. HC Wainwright reissued a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. Morgan Stanley initiated coverage on 4D Molecular Therapeutics in a research note on Thursday, November 21st. They issued an “underweight” rating and a $8.00 target price for the company. Cantor Fitzgerald cut 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, September 23rd. Finally, Leerink Partners reissued an “outperform” rating and issued a $36.00 price objective (down from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.56.

4D Molecular Therapeutics Stock Performance

Shares of NASDAQ FDMT opened at $6.31 on Wednesday. 4D Molecular Therapeutics has a fifty-two week low of $5.58 and a fifty-two week high of $36.25. The company has a market cap of $291.70 million, a PE ratio of -2.21 and a beta of 2.74. The business has a 50-day simple moving average of $7.79 and a two-hundred day simple moving average of $13.98.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FDMT. Principal Financial Group Inc. boosted its position in 4D Molecular Therapeutics by 9.6% in the 2nd quarter. Principal Financial Group Inc. now owns 21,034 shares of the company’s stock worth $442,000 after purchasing an additional 1,849 shares in the last quarter. Algert Global LLC boosted its holdings in 4D Molecular Therapeutics by 20.6% during the second quarter. Algert Global LLC now owns 16,588 shares of the company’s stock worth $348,000 after buying an additional 2,828 shares in the last quarter. nVerses Capital LLC purchased a new stake in 4D Molecular Therapeutics during the third quarter worth $40,000. The Manufacturers Life Insurance Company increased its holdings in 4D Molecular Therapeutics by 25.5% in the second quarter. The Manufacturers Life Insurance Company now owns 18,975 shares of the company’s stock valued at $398,000 after buying an additional 3,850 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of 4D Molecular Therapeutics by 64.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,995 shares of the company’s stock worth $108,000 after acquiring an additional 3,922 shares during the period. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

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.