Weiss Ratings Reaffirms Sell (D-) Rating for 4D Molecular Therapeutics (NASDAQ:FDMT)

Weiss Ratings restated their sell (d-) rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research report released on Saturday morning,Weiss Ratings reports.

Other analysts have also recently issued research reports about the company. BMO Capital Markets cut 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $40.00 to $15.00 in a research report on Monday, January 13th. Chardan Capital reiterated a “buy” rating and issued a $39.00 price objective on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. Cantor Fitzgerald cut shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, September 23rd. Leerink Partners cut their price objective on 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Finally, Bank of America lowered their target price on 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.56.

4D Molecular Therapeutics Price Performance

4D Molecular Therapeutics stock opened at $4.58 on Friday. 4D Molecular Therapeutics has a fifty-two week low of $4.50 and a fifty-two week high of $36.25. The firm’s 50 day simple moving average is $6.66 and its 200-day simple moving average is $11.42. The company has a market cap of $211.73 million, a P/E ratio of -1.61 and a beta of 2.81.

Institutional Trading of 4D Molecular Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp increased its stake in shares of 4D Molecular Therapeutics by 1.8% in the third quarter. State Street Corp now owns 2,116,508 shares of the company’s stock worth $22,879,000 after purchasing an additional 37,232 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of 4D Molecular Therapeutics by 238.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,543,414 shares of the company’s stock valued at $16,684,000 after acquiring an additional 1,087,147 shares during the period. Novo Holdings A S increased its position in 4D Molecular Therapeutics by 7.1% during the third quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock worth $16,215,000 after acquiring an additional 100,000 shares during the period. Redmile Group LLC boosted its holdings in 4D Molecular Therapeutics by 17.6% in the 3rd quarter. Redmile Group LLC now owns 1,262,090 shares of the company’s stock valued at $13,643,000 after purchasing an additional 188,655 shares during the period. Finally, Braidwell LP raised its position in shares of 4D Molecular Therapeutics by 231.7% during the third quarter. Braidwell LP now owns 1,225,448 shares of the company’s stock valued at $13,247,000 after buying an additional 855,990 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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.