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

4D Molecular Therapeutics (NASDAQ:FDMT) had its price target decreased by Chardan Capital from $30.00 to $28.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Chardan Capital currently has a buy rating on the stock.

Several other research firms have also recently weighed in on FDMT. Weiss Ratings restated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a report on Wednesday, February 19th. HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Monday. Royal Bank of Canada cut their price target on 4D Molecular Therapeutics from $39.00 to $35.00 and set an “outperform” rating on the stock in a report on Monday. BMO Capital Markets lowered shares of 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $40.00 to $15.00 in a research note on Monday, January 13th. Finally, Morgan Stanley dropped their price objective on shares of 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating on the stock in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.38.

4D Molecular Therapeutics Price Performance

Shares of NASDAQ:FDMT opened at $4.14 on Tuesday. 4D Molecular Therapeutics has a 1 year low of $3.92 and a 1 year high of $36.25. The company has a market capitalization of $191.69 million, a P/E ratio of -1.45 and a beta of 2.83. The business’s 50 day simple moving average is $5.08 and its 200 day simple moving average is $8.34.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings results on Friday, February 28th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.10). On average, sell-side analysts anticipate that 4D Molecular Therapeutics will post -2.84 EPS for the current fiscal year.

Institutional Trading of 4D Molecular Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of FDMT. Vanguard Group Inc. lifted its stake in 4D Molecular Therapeutics by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 2,860,508 shares of the company’s stock valued at $15,933,000 after acquiring an additional 92,791 shares in the last quarter. State Street Corp boosted its position in 4D Molecular Therapeutics by 1.8% in the third quarter. State Street Corp now owns 2,116,508 shares of the company’s stock worth $22,879,000 after purchasing an additional 37,232 shares during the last quarter. Millennium Management LLC grew its stake in 4D Molecular Therapeutics by 1,607.1% in the 4th quarter. Millennium Management LLC now owns 1,420,723 shares of the company’s stock valued at $7,913,000 after purchasing an additional 1,337,497 shares during the period. Redmile Group LLC raised its stake in shares of 4D Molecular Therapeutics by 17.6% during the 3rd quarter. Redmile Group LLC now owns 1,262,090 shares of the company’s stock worth $13,643,000 after purchasing an additional 188,655 shares during the period. Finally, Braidwell LP raised its stake in shares of 4D Molecular Therapeutics by 231.7% during the 3rd quarter. Braidwell LP now owns 1,225,448 shares of the company’s stock worth $13,247,000 after purchasing an additional 855,990 shares during the period. 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.