Bank of America Cuts 4D Molecular Therapeutics (NASDAQ:FDMT) Price Target to $46.00

4D Molecular Therapeutics (NASDAQ:FDMT) had its price objective cut by Bank of America from $79.00 to $46.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently issued reports on FDMT. Leerink Partners reiterated an “outperform” rating and set a $36.00 price objective (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th. HC Wainwright reiterated a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. Morgan Stanley started coverage on shares of 4D Molecular Therapeutics in a report on Thursday, November 21st. They set an “underweight” rating and a $8.00 price objective for the company. Royal Bank of Canada reduced their target price on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, November 14th. Finally, Cantor Fitzgerald lowered 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.56.

4D Molecular Therapeutics Price Performance

Shares of NASDAQ:FDMT traded down $0.26 during trading on Wednesday, hitting $5.71. 313,747 shares of the company’s stock were exchanged, compared to its average volume of 884,768. The business’s 50-day simple moving average is $7.91 and its 200 day simple moving average is $14.16. The company has a market cap of $263.96 million, a price-to-earnings ratio of -2.00 and a beta of 2.74. 4D Molecular Therapeutics has a 52-week low of $5.58 and a 52-week high of $36.25.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. nVerses Capital LLC purchased a new position in shares of 4D Molecular Therapeutics during the third quarter valued at $40,000. Values First Advisors Inc. bought a new position in 4D Molecular Therapeutics during the 3rd quarter worth about $57,000. Quest Partners LLC increased its position in 4D Molecular Therapeutics by 17,409.1% during the 2nd quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock valued at $121,000 after purchasing an additional 5,745 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in shares of 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 valued at $108,000 after purchasing an additional 3,922 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of 4D Molecular Therapeutics in the 3rd quarter valued at about $108,000. 99.27% of the stock is owned by institutional investors.

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.