Weiss Ratings Reiterates Sell (D-) Rating for 4D Molecular Therapeutics (NASDAQ:FDMT)

Weiss Ratings reiterated their sell (d-) rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a report published on Wednesday,Weiss Ratings reports.

Several other brokerages also recently issued reports on FDMT. HC Wainwright reissued a “buy” rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a report on Monday, February 10th. Chardan Capital cut their target price on shares of 4D Molecular Therapeutics from $39.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Leerink Partners reduced their target price on 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Bank of America dropped their price target on 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Finally, Morgan Stanley reduced 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.13.

4D Molecular Therapeutics Stock Performance

Shares of NASDAQ FDMT opened at $4.64 on Wednesday. 4D Molecular Therapeutics has a 52-week low of $4.41 and a 52-week high of $36.25. The business has a fifty day moving average of $5.38 and a two-hundred day moving average of $9.00. The stock has a market cap of $214.50 million, a PE ratio of -1.63 and a beta of 2.81.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in FDMT. KLP Kapitalforvaltning AS acquired a new stake in 4D Molecular Therapeutics in the fourth quarter worth about $48,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in 4D Molecular Therapeutics during the 4th quarter valued at about $50,000. PNC Financial Services Group Inc. boosted its stake in shares of 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 valued at $51,000 after purchasing an additional 3,630 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of 4D Molecular Therapeutics by 5,291.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 9,921 shares of the company’s stock worth $55,000 after buying an additional 9,737 shares during the period. Finally, Velan Capital Investment Management LP acquired a new stake in shares of 4D Molecular Therapeutics during the 4th quarter worth approximately $56,000. Institutional investors 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.