4D Molecular Therapeutics (NASDAQ:FDMT) Now Covered by Analysts at Morgan Stanley

Morgan Stanley started coverage on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research note published on Thursday, MarketBeat Ratings reports. The brokerage issued an underweight rating and a $8.00 price target on the stock.

FDMT has been the subject of several other research reports. Royal Bank of Canada cut their target price on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. Leerink Partners reaffirmed an “outperform” rating and set a $36.00 price objective (down from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. Cantor Fitzgerald lowered 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, September 23rd. Finally, Chardan Capital restated a “buy” rating and issued a $39.00 target price on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, 4D Molecular Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $42.13.

4D Molecular Therapeutics Stock Down 2.5 %

Shares of FDMT stock opened at $7.79 on Thursday. The business has a 50-day moving average price of $9.56 and a two-hundred day moving average price of $16.38. 4D Molecular Therapeutics has a 12-month low of $7.32 and a 12-month high of $36.25. The firm has a market cap of $360.12 million, a P/E ratio of -2.73 and a beta of 2.82.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of FDMT. Sei Investments Co. bought a new position in shares of 4D Molecular Therapeutics in the 1st quarter worth approximately $504,000. ProShare Advisors LLC bought a new stake in shares of 4D Molecular Therapeutics during the 1st quarter valued at $344,000. Vanguard Group Inc. grew its position in shares of 4D Molecular Therapeutics by 25.3% in the 1st quarter. Vanguard Group Inc. now owns 2,339,943 shares of the company’s stock worth $74,551,000 after buying an additional 473,094 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of 4D Molecular Therapeutics by 6.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,952 shares of the company’s stock worth $764,000 after acquiring an additional 1,356 shares in the last quarter. Finally, Bellevue Group AG purchased a new position in 4D Molecular Therapeutics during the 1st quarter valued at about $500,000. Hedge funds and other 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.