Royal Bank of Canada Cuts 4D Molecular Therapeutics (NASDAQ:FDMT) Price Target to $39.00

4D Molecular Therapeutics (NASDAQ:FDMT) had its target price decreased by Royal Bank of Canada from $40.00 to $39.00 in a report released on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other analysts have also recently issued research reports about the company. Cantor Fitzgerald cut 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, September 23rd. Leerink Partners reiterated an “outperform” rating and set a $36.00 price objective (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th. HC Wainwright reaffirmed a “buy” rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. BMO Capital Markets decreased their price target on shares of 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, July 18th. Finally, Chardan Capital lifted their target price on 4D Molecular Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

4D Molecular Therapeutics Stock Performance

Shares of FDMT stock opened at $8.83 on Thursday. The stock has a fifty day simple moving average of $10.30 and a two-hundred day simple moving average of $17.09. The firm has a market capitalization of $458.90 million, a PE ratio of -3.10 and a beta of 2.82. 4D Molecular Therapeutics has a 52-week low of $7.32 and a 52-week high of $36.25.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FDMT. nVerses Capital LLC purchased a new position in shares of 4D Molecular Therapeutics in the 3rd quarter worth approximately $40,000. Values First Advisors Inc. bought a new stake in 4D Molecular Therapeutics in the third quarter worth $57,000. China Universal Asset Management Co. Ltd. boosted its stake in 4D Molecular Therapeutics by 64.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,995 shares of the company’s stock worth $108,000 after buying an additional 3,922 shares during the period. Proficio Capital Partners LLC bought a new position in 4D Molecular Therapeutics during the third quarter valued at $108,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of 4D Molecular Therapeutics by 702.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock valued at $110,000 after acquiring an additional 3,026 shares during the period. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

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.