Geode Capital Management LLC Trims Holdings in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Geode Capital Management LLC lowered its holdings in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,036,545 shares of the company’s stock after selling 24,346 shares during the quarter. Geode Capital Management LLC’s holdings in 4D Molecular Therapeutics were worth $11,207,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in 4D Molecular Therapeutics in the third quarter worth $40,000. Values First Advisors Inc. purchased a new position in 4D Molecular Therapeutics during the 3rd quarter valued at $57,000. China Universal Asset Management Co. Ltd. raised its holdings in 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 purchased a new stake in shares of 4D Molecular Therapeutics in the 3rd quarter worth about $108,000. Finally, Quest Partners LLC boosted its stake in shares of 4D Molecular Therapeutics by 17,409.1% during the 2nd quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock valued at $121,000 after purchasing an additional 5,745 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FDMT has been the subject of several research reports. HC Wainwright reissued a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Thursday, November 14th. Bank of America reduced their price objective on 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Leerink Partners reissued an “outperform” rating and issued a $36.00 target price (down from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. Royal Bank of Canada reduced their price target on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, November 14th. Finally, Chardan Capital reiterated a “buy” rating and issued a $39.00 price target on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.56.

4D Molecular Therapeutics Price Performance

4D Molecular Therapeutics stock opened at $5.57 on Wednesday. 4D Molecular Therapeutics, Inc. has a one year low of $5.22 and a one year high of $36.25. The business’s fifty day moving average is $7.38 and its 200 day moving average is $12.94. The stock has a market capitalization of $257.49 million, a PE ratio of -1.95 and a beta of 2.74.

4D Molecular Therapeutics 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.