Chardan Capital Reaffirms “Buy” Rating for 4D Molecular Therapeutics (NASDAQ:FDMT)

4D Molecular Therapeutics (NASDAQ:FDMT)‘s stock had its “buy” rating restated by equities researchers at Chardan Capital in a research report issued on Thursday,Benzinga reports. They currently have a $39.00 price objective on the stock. Chardan Capital’s price objective points to a potential upside of 341.68% from the stock’s current price.

Other research analysts also recently issued reports about the company. Leerink Partners reaffirmed an “outperform” rating and issued a $36.00 price target (down from $40.00) on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th. BMO Capital Markets decreased their price target on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, July 18th. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Thursday. Cantor Fitzgerald lowered 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada reduced their price objective on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday. One equities research 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 has a consensus rating of “Moderate Buy” and an average target price of $47.00.

4D Molecular Therapeutics Price Performance

Shares of 4D Molecular Therapeutics stock opened at $8.83 on Thursday. The firm has a market cap of $458.90 million, a price-to-earnings ratio of -3.10 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 stock has a 50-day simple moving average of $10.30 and a 200-day simple moving average of $17.13.

Hedge Funds Weigh In On 4D Molecular Therapeutics

A number of hedge funds have recently added to or reduced their stakes in FDMT. nVerses Capital LLC acquired a new stake in shares of 4D Molecular Therapeutics during the 3rd quarter valued at $40,000. Values First Advisors Inc. bought a new position in shares of 4D Molecular Therapeutics in the 3rd quarter worth about $57,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of 4D Molecular Therapeutics by 64.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,995 shares of the company’s stock worth $108,000 after purchasing an additional 3,922 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of 4D Molecular Therapeutics during the third quarter valued at about $108,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of 4D Molecular Therapeutics by 702.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock worth $110,000 after purchasing an additional 3,026 shares during the last quarter. 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.