Bank of America Has Lowered Expectations for 4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) had its price target reduced by analysts at Bank of America from $79.00 to $46.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock.

FDMT has been the subject of several other research reports. Royal Bank of Canada lowered their target price on shares of 4D Molecular Therapeutics from $40.00 to $39.00 and set an "outperform" rating for the company in a research note on Thursday, November 14th. Leerink Partners reaffirmed an "outperform" rating and set a $36.00 price objective (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. Morgan Stanley initiated coverage on 4D Molecular Therapeutics in a research note on Thursday, November 21st. They issued an "underweight" rating and a $8.00 target price for the company. Cantor Fitzgerald downgraded 4D Molecular Therapeutics from an "overweight" rating to a "neutral" rating in a report on Monday, September 23rd. Finally, Chardan Capital reiterated a "buy" rating and set a $39.00 price objective on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, 4D Molecular Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $42.56.

4D Molecular Therapeutics Price Performance

Shares of 4D Molecular Therapeutics stock traded down $0.35 during trading on Wednesday, hitting $5.97. 1,418,769 shares of the company were exchanged, compared to its average volume of 887,315. The firm has a market capitalization of $275.98 million, a P/E ratio of -2.09 and a beta of 2.74. The firm's fifty day moving average price is $7.91 and its 200 day moving average price is $14.16. 4D Molecular Therapeutics has a 1-year low of $5.77 and a 1-year high of $36.25.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in FDMT. nVerses Capital LLC acquired a new stake in shares of 4D Molecular Therapeutics in the third quarter valued at about $40,000. Values First Advisors Inc. bought a new position in 4D Molecular Therapeutics in the third quarter valued at approximately $57,000. Quest Partners LLC increased its position 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 worth $121,000 after purchasing an additional 5,745 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of 4D Molecular Therapeutics by 64.6% during 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. Finally, Proficio Capital Partners LLC bought a new stake in shares of 4D Molecular Therapeutics during the 3rd quarter worth approximately $108,000. 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.