Wellington Management Group LLP Sells 13,254 Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Wellington Management Group LLP trimmed its stake in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 7.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 166,190 shares of the company’s stock after selling 13,254 shares during the quarter. Wellington Management Group LLP’s holdings in 4D Molecular Therapeutics were worth $1,797,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Principal Financial Group Inc. boosted its stake 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 raised its holdings in 4D Molecular Therapeutics by 20.6% in 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 during the last quarter. nVerses Capital LLC bought a new position in shares of 4D Molecular Therapeutics in the third quarter worth approximately $40,000. The Manufacturers Life Insurance Company grew its holdings in shares of 4D Molecular Therapeutics by 25.5% during 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 during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of 4D Molecular Therapeutics by 64.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,995 shares of the company’s stock valued at $108,000 after acquiring an additional 3,922 shares in the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FDMT shares. Chardan Capital restated a “buy” rating and issued a $39.00 price target on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. Morgan Stanley started coverage on shares of 4D Molecular Therapeutics in a research report on Thursday, November 21st. They set an “underweight” rating and a $8.00 price objective on the stock. Cantor Fitzgerald downgraded shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, September 23rd. Bank of America lowered their price target on 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, 4D Molecular Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $42.56.

4D Molecular Therapeutics Trading Down 5.5 %

Shares of NASDAQ:FDMT opened at $5.97 on Thursday. The stock has a 50 day moving average of $7.91 and a 200 day moving average of $14.16. The company has a market cap of $275.98 million, a PE ratio of -2.09 and a beta of 2.74. 4D Molecular Therapeutics, Inc. has a 12-month low of $5.77 and a 12-month high of $36.25.

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.