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

Weiss Ratings reaffirmed their sell (d-) rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT - Free Report) in a research note released on Wednesday morning,Weiss Ratings reports.

Several other brokerages have also weighed in on FDMT. HC Wainwright restated a "buy" rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a research note on Monday, February 10th. Leerink Partners cut their price objective on shares of 4D Molecular Therapeutics from $31.00 to $27.00 and set an "outperform" rating for the company in a research report on Monday, January 13th. Chardan Capital reduced their price objective on 4D Molecular Therapeutics from $39.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. 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. Finally, Morgan Stanley reduced their price target on 4D Molecular Therapeutics from $8.00 to $6.00 and set an "underweight" rating for the company in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $32.13.

4D Molecular Therapeutics Stock Down 0.6 %

Shares of FDMT stock traded down $0.03 during trading on Wednesday, reaching $4.64. 563,286 shares of the company's stock were exchanged, compared to its average volume of 928,929. The firm's fifty day moving average price is $5.38 and its 200-day moving average price is $9.00. 4D Molecular Therapeutics has a twelve month low of $4.41 and a twelve month high of $36.25. The stock has a market capitalization of $214.51 million, a PE ratio of -1.63 and a beta of 2.81.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. KLP Kapitalforvaltning AS acquired a new stake in 4D Molecular Therapeutics during the fourth quarter worth about $48,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of 4D Molecular Therapeutics during the fourth quarter valued at about $50,000. PNC Financial Services Group Inc. grew its stake in shares of 4D Molecular Therapeutics by 66.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,124 shares of the company's stock worth $51,000 after purchasing an additional 3,630 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in 4D Molecular Therapeutics by 5,291.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 9,921 shares of the company's stock valued at $55,000 after purchasing an additional 9,737 shares during the period. Finally, Velan Capital Investment Management LP bought a new position in 4D Molecular Therapeutics during the 4th quarter worth $56,000. 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.