Short Interest in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Rises By 8.8%

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) was the recipient of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 8,520,000 shares, a growth of 8.8% from the November 15th total of 7,830,000 shares. Based on an average daily volume of 894,400 shares, the days-to-cover ratio is presently 9.5 days.

Institutional Investors Weigh In On 4D Molecular Therapeutics

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on FDMT. Leerink Partners reissued an “outperform” rating and set a $36.00 price objective (down from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. Chardan Capital restated a “buy” rating and issued a $39.00 price objective on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. Cantor Fitzgerald lowered 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, September 23rd. Royal Bank of Canada dropped their target price on shares of 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. Finally, Morgan Stanley assumed coverage on shares of 4D Molecular Therapeutics in a research report on Thursday, November 21st. They set an “underweight” rating and a $8.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.13.

4D Molecular Therapeutics Trading Down 2.0 %

NASDAQ:FDMT traded down $0.13 on Tuesday, reaching $6.35. The stock had a trading volume of 601,552 shares, compared to its average volume of 884,071. The company has a 50-day moving average of $8.03 and a 200 day moving average of $14.34. The stock has a market cap of $293.55 million, a P/E ratio of -2.24 and a beta of 2.74. 4D Molecular Therapeutics has a 12-month low of $6.28 and a 12-month high of $36.25.

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.