4D Molecular Therapeutics’ (FDMT) Sell (E+) Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their sell (e+) rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research note released on Saturday morning,Weiss Ratings reports.

A number of other analysts have also recently commented on the stock. Bank of America cut their price target on shares of 4D Molecular Therapeutics from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Morgan Stanley cut their price target on shares of 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating on the stock in a research report on Monday, January 13th. HC Wainwright reissued a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research report on Monday, March 3rd. Royal Bank of Canada cut their price objective on shares of 4D Molecular Therapeutics from $39.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Finally, Barclays lowered their target price on shares of 4D Molecular Therapeutics from $45.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.56.

4D Molecular Therapeutics Stock Performance

NASDAQ:FDMT opened at $3.32 on Friday. The stock’s fifty day moving average price is $3.37 and its two-hundred day moving average price is $5.22. The company has a market cap of $153.80 million, a price-to-earnings ratio of -1.16 and a beta of 2.87. 4D Molecular Therapeutics has a 52-week low of $2.24 and a 52-week high of $28.93.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.02). On average, equities analysts predict that 4D Molecular Therapeutics will post -2.84 EPS for the current fiscal year.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Several institutional investors have recently bought and sold shares of FDMT. Vanguard Group Inc. lifted its holdings in shares of 4D Molecular Therapeutics by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 2,860,508 shares of the company’s stock worth $15,933,000 after acquiring an additional 92,791 shares during the last quarter. Millennium Management LLC increased its position in 4D Molecular Therapeutics by 1,607.1% during the 4th quarter. Millennium Management LLC now owns 1,420,723 shares of the company’s stock valued at $7,913,000 after purchasing an additional 1,337,497 shares during the period. Federated Hermes Inc. increased its position in 4D Molecular Therapeutics by 33,131.8% during the 1st quarter. Federated Hermes Inc. now owns 1,250,181 shares of the company’s stock valued at $4,038,000 after purchasing an additional 1,246,419 shares during the period. JPMorgan Chase & Co. increased its position in 4D Molecular Therapeutics by 159.5% during the 4th quarter. JPMorgan Chase & Co. now owns 820,069 shares of the company’s stock valued at $4,568,000 after purchasing an additional 504,086 shares during the period. Finally, Norges Bank purchased a new position in 4D Molecular Therapeutics during the 4th quarter valued at about $2,790,000. 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.