4D Molecular Therapeutics (NASDAQ:FDMT) Given New $28.00 Price Target at Chardan Capital

4D Molecular Therapeutics (NASDAQ:FDMT - Free Report) had its price target lowered by Chardan Capital from $30.00 to $28.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also weighed in on the company. Leerink Partners reduced their price objective on 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. BMO Capital Markets lowered 4D Molecular Therapeutics from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $40.00 to $15.00 in a research report on Monday, January 13th. Royal Bank of Canada cut their price objective on shares of 4D Molecular Therapeutics from $39.00 to $35.00 and set an "outperform" rating on the stock in a research report on Monday. Morgan Stanley decreased their target price on shares of 4D Molecular Therapeutics from $8.00 to $6.00 and set an "underweight" rating for the company in a report on Monday, January 13th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $31.38.

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4D Molecular Therapeutics Trading Down 1.7 %

Shares of FDMT stock traded down $0.07 during midday trading on Tuesday, reaching $4.07. 594,375 shares of the stock were exchanged, compared to its average volume of 845,786. 4D Molecular Therapeutics has a 1 year low of $3.92 and a 1 year high of $36.25. The firm has a market cap of $188.45 million, a PE ratio of -1.43 and a beta of 2.83. The company's 50 day moving average is $5.08 and its two-hundred day moving average is $8.34.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last issued its quarterly earnings results on Friday, February 28th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.10). As a group, equities analysts expect that 4D Molecular Therapeutics will post -2.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FDMT. Millennium Management LLC raised its stake in 4D Molecular Therapeutics by 1,607.1% during the 4th quarter. Millennium Management LLC now owns 1,420,723 shares of the company's stock valued at $7,913,000 after buying an additional 1,337,497 shares during the last quarter. Braidwell LP grew its holdings in shares of 4D Molecular Therapeutics by 231.7% in the third quarter. Braidwell LP now owns 1,225,448 shares of the company's stock worth $13,247,000 after acquiring an additional 855,990 shares during the period. JPMorgan Chase & Co. increased its position in 4D Molecular Therapeutics by 159.5% during the fourth quarter. JPMorgan Chase & Co. now owns 820,069 shares of the company's stock valued at $4,568,000 after acquiring an additional 504,086 shares during the last quarter. Norges Bank bought a new position in 4D Molecular Therapeutics in the fourth quarter valued at about $2,790,000. Finally, Cubist Systematic Strategies LLC boosted its position in 4D Molecular Therapeutics by 2,084.5% in the fourth quarter. Cubist Systematic Strategies LLC now owns 448,831 shares of the company's stock worth $2,500,000 after purchasing an additional 428,285 shares during the last quarter. Institutional investors own 99.27% of the company's stock.

4D Molecular Therapeutics Company 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.