4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Sees Significant Decrease in Short Interest

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Get Free Report) was the target of a significant drop in short interest in February. As of February 28th, there was short interest totalling 5,240,000 shares, a drop of 15.1% from the February 13th total of 6,170,000 shares. Approximately 12.2% of the company's stock are short sold. Based on an average daily trading volume, of 906,600 shares, the days-to-cover ratio is currently 5.8 days.

Wall Street Analyst Weigh In

Several analysts have issued reports on FDMT shares. Leerink Partners dropped their price target on shares of 4D Molecular Therapeutics from $31.00 to $27.00 and set an "outperform" rating on the stock in a research report on Monday, January 13th. HC Wainwright restated a "buy" rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Monday, March 3rd. Royal Bank of Canada cut their price objective on 4D Molecular Therapeutics from $39.00 to $35.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. Weiss Ratings reissued a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a report on Friday, March 7th. Finally, BMO Capital Markets downgraded 4D Molecular Therapeutics from an "outperform" rating to a "market perform" rating and cut their price target for the company from $40.00 to $15.00 in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $30.63.

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4D Molecular Therapeutics Stock Up 4.5 %

Shares of FDMT traded up $0.17 during midday trading on Friday, reaching $3.92. 1,295,031 shares of the stock were exchanged, compared to its average volume of 798,662. The stock's 50 day simple moving average is $4.69 and its 200 day simple moving average is $7.44. The company has a market cap of $181.50 million, a P/E ratio of -1.38 and a beta of 2.83. 4D Molecular Therapeutics has a twelve month low of $3.58 and a twelve month high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last issued its quarterly earnings data on Friday, February 28th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.10). As a group, analysts predict that 4D Molecular Therapeutics will post -2.84 earnings per share for the current year.

Institutional Trading of 4D Molecular Therapeutics

Several large investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 4D Molecular Therapeutics by 7.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,324 shares of the company's stock worth $247,000 after buying an additional 2,925 shares during the last quarter. Velan Capital Investment Management LP bought a new stake in shares of 4D Molecular Therapeutics during the fourth quarter worth about $56,000. Two Sigma Advisers LP increased its stake in shares of 4D Molecular Therapeutics by 452.0% in the fourth quarter. Two Sigma Advisers LP now owns 126,400 shares of the company's stock valued at $704,000 after buying an additional 103,500 shares during the period. Two Sigma Investments LP raised its holdings in 4D Molecular Therapeutics by 196.3% in the 4th quarter. Two Sigma Investments LP now owns 313,993 shares of the company's stock valued at $1,749,000 after buying an additional 208,021 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in 4D Molecular Therapeutics during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 99.27% of the company's stock.

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.