Fmr LLC Sells 1,012,123 Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

FMR LLC lessened its stake in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Free Report) by 99.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,100 shares of the company's stock after selling 1,012,123 shares during the period. FMR LLC's holdings in 4D Molecular Therapeutics were worth $44,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FDMT. nVerses Capital LLC purchased a new position in shares of 4D Molecular Therapeutics in the third quarter worth approximately $40,000. Values First Advisors Inc. purchased a new position in shares of 4D Molecular Therapeutics during the 3rd quarter worth $57,000. China Universal Asset Management Co. Ltd. grew its position 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 valued at $108,000 after acquiring an additional 3,922 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of 4D Molecular Therapeutics in the 3rd quarter worth $108,000. Finally, Quest Partners LLC raised its holdings in 4D Molecular Therapeutics by 17,409.1% in 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 period. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

4D Molecular Therapeutics Price Performance

NASDAQ FDMT remained flat at $5.81 during trading on Thursday. The company's stock had a trading volume of 572,337 shares, compared to its average volume of 904,221. The company has a 50-day moving average of $7.56 and a 200-day moving average of $13.46. 4D Molecular Therapeutics, Inc. has a fifty-two week low of $5.58 and a fifty-two week high of $36.25. The firm has a market capitalization of $268.58 million, a P/E ratio of -2.04 and a beta of 2.74.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Cantor Fitzgerald lowered 4D Molecular Therapeutics from an "overweight" rating to a "neutral" rating in a report on Monday, September 23rd. Royal Bank of Canada reduced 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 report on Thursday, November 14th. Bank of America decreased their target price on shares of 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. Chardan Capital reissued a "buy" rating and issued a $39.00 price objective on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. Finally, HC Wainwright restated a "buy" rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $42.56.

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.