Morgan Stanley Lowers 4D Molecular Therapeutics (NASDAQ:FDMT) Price Target to $6.00

4D Molecular Therapeutics (NASDAQ:FDMT - Free Report) had its price target lowered by Morgan Stanley from $8.00 to $6.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other equities research analysts have also recently issued reports on FDMT. Chardan Capital reaffirmed a "buy" rating and set a $39.00 target price on shares of 4D Molecular Therapeutics in a research report on Thursday, November 14th. Royal Bank of Canada reduced their price objective on 4D Molecular Therapeutics from $40.00 to $39.00 and set an "outperform" rating for the company in a research report on Thursday, November 14th. BMO Capital Markets lowered shares of 4D Molecular Therapeutics from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $40.00 to $15.00 in a research report on Monday. HC Wainwright reiterated a "buy" rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Monday. Finally, Leerink Partners reiterated an "outperform" rating and issued a $36.00 target price (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $38.56.

4D Molecular Therapeutics Price Performance

NASDAQ:FDMT traded down $0.76 during mid-day trading on Monday, reaching $4.76. The stock had a trading volume of 1,368,492 shares, compared to its average volume of 828,870. The stock has a market cap of $220.05 million, a P/E ratio of -1.67 and a beta of 2.81. 4D Molecular Therapeutics has a fifty-two week low of $4.68 and a fifty-two week high of $36.25. The business's 50 day moving average is $7.00 and its 200 day moving average is $11.99.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC grew its position in shares of 4D Molecular Therapeutics by 141.0% during the 3rd quarter. Barclays PLC now owns 114,848 shares of the company's stock worth $1,241,000 after buying an additional 67,202 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in 4D Molecular Therapeutics by 81.3% during the third quarter. Y Intercept Hong Kong Ltd now owns 24,538 shares of the company's stock valued at $265,000 after purchasing an additional 11,002 shares during the period. State Street Corp increased its stake in 4D Molecular Therapeutics by 1.8% in the third quarter. State Street Corp now owns 2,116,508 shares of the company's stock valued at $22,879,000 after purchasing an additional 37,232 shares in the last quarter. Redmile Group LLC increased its stake in 4D Molecular Therapeutics by 17.6% in the third 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 in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in 4D Molecular Therapeutics in the third quarter worth $166,000. 99.27% of the stock is owned by institutional investors.

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.