4D Molecular Therapeutics (NASDAQ:FDMT) Now Covered by Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research report sent to investors on Thursday morning, MarketBeat reports. The brokerage issued an underweight rating and a $8.00 price target on the stock.

Several other brokerages have also recently commented on FDMT. Chardan Capital reaffirmed a “buy” rating and set a $39.00 target price on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. Cantor Fitzgerald lowered shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, September 23rd. Royal Bank of Canada reduced their price target on shares of 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, November 14th. Leerink Partners reiterated an “outperform” rating and set a $36.00 price target (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th. Finally, HC Wainwright reiterated a “buy” rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $42.13.

4D Molecular Therapeutics Trading Down 1.5 %

Shares of FDMT opened at $7.87 on Thursday. 4D Molecular Therapeutics has a 12 month low of $7.32 and a 12 month high of $36.25. The firm’s 50 day moving average is $9.72 and its 200-day moving average is $16.66. The stock has a market capitalization of $363.83 million, a PE ratio of -2.80 and a beta of 2.82.

Institutional Trading of 4D Molecular Therapeutics

A number of hedge funds have recently added to or reduced their stakes in FDMT. Sei Investments Co. acquired a new position in shares of 4D Molecular Therapeutics during the first quarter worth $504,000. ProShare Advisors LLC acquired a new position in shares of 4D Molecular Therapeutics during the first quarter worth $344,000. Vanguard Group Inc. lifted its holdings in shares of 4D Molecular Therapeutics by 25.3% during the first quarter. Vanguard Group Inc. now owns 2,339,943 shares of the company’s stock worth $74,551,000 after purchasing an additional 473,094 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of 4D Molecular Therapeutics by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,952 shares of the company’s stock worth $764,000 after purchasing an additional 1,356 shares during the period. Finally, Bellevue Group AG acquired a new position in shares of 4D Molecular Therapeutics during the first quarter worth $500,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

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.