Chardan Capital Has Lowered Expectations for 4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price

4D Molecular Therapeutics (NASDAQ:FDMT) had its target price reduced by research analysts at Chardan Capital from $39.00 to $30.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Chardan Capital’s price target indicates a potential upside of 463.91% from the company’s current price.

A number of other research firms have also commented on FDMT. HC Wainwright reiterated a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Monday. Morgan Stanley dropped their price objective on 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating on the stock in a research note on Monday, January 13th. BMO Capital Markets cut 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $40.00 to $15.00 in a research note on Monday, January 13th. Bank of America dropped their price target on shares of 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a report on Saturday, February 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, 4D Molecular Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $32.13.

4D Molecular Therapeutics Stock Down 10.9 %

Shares of FDMT opened at $5.32 on Tuesday. The firm has a market capitalization of $245.94 million, a PE ratio of -1.87 and a beta of 2.81. The firm has a 50-day moving average price of $5.79 and a 200 day moving average price of $9.66. 4D Molecular Therapeutics has a 52-week low of $4.43 and a 52-week high of $36.25.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FDMT. PNC Financial Services Group Inc. boosted its stake in 4D Molecular Therapeutics by 66.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,124 shares of the company’s stock worth $51,000 after purchasing an additional 3,630 shares during the period. Rhumbline Advisers boosted its position in shares of 4D Molecular Therapeutics by 5.3% in the fourth quarter. Rhumbline Advisers now owns 73,431 shares of the company’s stock worth $409,000 after buying an additional 3,675 shares during the period. nVerses Capital LLC purchased a new position in shares of 4D Molecular Therapeutics during the third quarter valued at $40,000. The Manufacturers Life Insurance Company raised its position in 4D Molecular Therapeutics by 25.5% during the second quarter. The Manufacturers Life Insurance Company now owns 18,975 shares of the company’s stock valued at $398,000 after buying an additional 3,850 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its stake in 4D Molecular Therapeutics by 64.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,995 shares of the company’s stock worth $108,000 after acquiring an additional 3,922 shares in the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

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.