Norges Bank Takes $2.79 Million Position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Norges Bank bought a new stake in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 500,823 shares of the company's stock, valued at approximately $2,790,000. Norges Bank owned about 1.08% of 4D Molecular Therapeutics as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of FDMT. PNC Financial Services Group Inc. increased its holdings 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 buying an additional 3,630 shares during the period. Rhumbline Advisers boosted its holdings in shares of 4D Molecular Therapeutics by 5.3% during the 4th quarter. Rhumbline Advisers now owns 73,431 shares of the company's stock valued at $409,000 after buying an additional 3,675 shares in the last quarter. American Century Companies Inc. increased its stake in shares of 4D Molecular Therapeutics by 12.9% during the fourth quarter. American Century Companies Inc. now owns 38,785 shares of the company's stock valued at $216,000 after purchasing an additional 4,429 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in 4D Molecular Therapeutics during the 4th quarter valued at approximately $48,000. Finally, Daiwa Securities Group Inc. increased its holdings in shares of 4D Molecular Therapeutics by 5,291.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 9,921 shares of the company's stock valued at $55,000 after acquiring an additional 9,737 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors.

4D Molecular Therapeutics Stock Down 4.7 %

Shares of 4D Molecular Therapeutics stock traded down $0.15 on Wednesday, reaching $2.96. 104,758 shares of the stock were exchanged, compared to its average volume of 827,420. The business has a 50 day moving average price of $3.90 and a two-hundred day moving average price of $6.02. The firm has a market capitalization of $136.82 million, a price-to-earnings ratio of -1.04 and a beta of 2.89. 4D Molecular Therapeutics, Inc. has a twelve month low of $2.24 and a twelve month high of $28.93.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last posted its quarterly earnings data on Friday, February 28th. The company reported ($0.90) EPS for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.10). Research analysts forecast that 4D Molecular Therapeutics, Inc. will post -2.84 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FDMT shares. Morgan Stanley decreased their price objective 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. Royal Bank of Canada reduced their price objective on 4D Molecular Therapeutics from $39.00 to $35.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a research report on Tuesday, April 8th. HC Wainwright reiterated a "buy" rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research report on Monday, March 3rd. Finally, Bank of America cut their price target on shares of 4D Molecular Therapeutics from $42.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $26.71.

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.