4D Molecular Therapeutics (NASDAQ:FDMT) Price Target Lowered to $6.00 at Morgan Stanley

4D Molecular Therapeutics (NASDAQ:FDMT) had its price target cut by Morgan Stanley from $8.00 to $6.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an underweight rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Chardan Capital reiterated a “buy” rating and issued a $39.00 target price on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. Royal Bank of Canada cut their price objective on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, November 14th. Cantor Fitzgerald cut 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, September 23rd. HC Wainwright restated a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research note on Monday. Finally, BMO Capital Markets downgraded shares of 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $40.00 to $15.00 in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, 4D Molecular Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $38.56.

4D Molecular Therapeutics Stock Up 3.3 %

Shares of FDMT stock opened at $5.04 on Monday. The company has a market capitalization of $232.99 million, a P/E ratio of -1.77 and a beta of 2.81. 4D Molecular Therapeutics has a 12-month low of $4.68 and a 12-month high of $36.25. The firm has a 50-day moving average price of $6.87 and a 200 day moving average price of $11.77.

Institutional Trading of 4D Molecular Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in FDMT. Algert Global LLC grew its position in shares of 4D Molecular Therapeutics by 20.6% during the 2nd quarter. Algert Global LLC now owns 16,588 shares of the company’s stock worth $348,000 after buying an additional 2,828 shares during the period. nVerses Capital LLC acquired a new position in 4D Molecular Therapeutics in the third quarter valued at approximately $40,000. The Manufacturers Life Insurance Company boosted its stake in 4D Molecular Therapeutics by 25.5% in the second quarter. The Manufacturers Life Insurance Company now owns 18,975 shares of the company’s stock valued at $398,000 after acquiring an additional 3,850 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in 4D Molecular Therapeutics by 64.6% during 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 during the period. Finally, Values First Advisors Inc. bought a new stake in shares of 4D Molecular Therapeutics during the 3rd quarter valued at $57,000. 99.27% of the stock is owned by 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.