4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Shares Purchased by Redmile Group LLC

Redmile Group LLC grew its holdings in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Free Report) by 17.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,262,090 shares of the company's stock after acquiring an additional 188,655 shares during the period. Redmile Group LLC owned about 2.43% of 4D Molecular Therapeutics worth $13,643,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in 4D Molecular Therapeutics by 238.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,543,414 shares of the company's stock valued at $16,684,000 after purchasing an additional 1,087,147 shares in the last quarter. Novo Holdings A S boosted its position in shares of 4D Molecular Therapeutics by 7.1% in the third quarter. Novo Holdings A S now owns 1,500,000 shares of the company's stock worth $16,215,000 after buying an additional 100,000 shares during the period. Braidwell LP grew its stake 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 valued at $13,247,000 after buying an additional 855,990 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of 4D Molecular Therapeutics by 10.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 706,000 shares of the company's stock valued at $14,819,000 after buying an additional 65,000 shares during the period. Finally, Panagora Asset Management Inc. lifted its position in 4D Molecular Therapeutics by 247.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 354,857 shares of the company's stock worth $7,448,000 after acquiring an additional 252,789 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company's stock.

Analysts Set New Price Targets

FDMT has been the subject of several recent research reports. Royal Bank of Canada lowered their price objective on shares of 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. Cantor Fitzgerald lowered shares of 4D Molecular Therapeutics from an "overweight" rating to a "neutral" rating in a report on Monday, September 23rd. Morgan Stanley started coverage on shares of 4D Molecular Therapeutics in a report on Thursday, November 21st. They issued an "underweight" rating and a $8.00 price objective on the stock. Chardan Capital restated a "buy" rating and set a $39.00 target price on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. Finally, HC Wainwright reiterated a "buy" rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, 4D Molecular Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $42.13.

4D Molecular Therapeutics Stock Performance

Shares of FDMT stock traded down $0.32 during trading hours on Thursday, hitting $6.82. 480,166 shares of the company were exchanged, compared to its average volume of 890,877. The stock has a market capitalization of $315.27 million, a price-to-earnings ratio of -2.39 and a beta of 2.74. 4D Molecular Therapeutics, Inc. has a one year low of $6.78 and a one year high of $36.25. The business's 50-day simple moving average is $8.58 and its two-hundred day simple moving average is $15.44.

4D Molecular Therapeutics 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.