Dimensional Fund Advisors LP Cuts Stock Position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Dimensional Fund Advisors LP cut its holdings in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 36.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 131,965 shares of the company’s stock after selling 76,850 shares during the quarter. Dimensional Fund Advisors LP owned 0.29% of 4D Molecular Therapeutics worth $735,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new position in 4D Molecular Therapeutics in the 4th quarter valued at $48,000. PNC Financial Services Group Inc. raised its stake in 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. raised its stake in 4D Molecular Therapeutics by 5,291.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 9,921 shares of the company’s stock valued at $55,000 after purchasing an additional 9,737 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in 4D Molecular Therapeutics in the 4th quarter valued at $69,000. Finally, AlphaQuest LLC raised its stake in 4D Molecular Therapeutics by 3,665.2% in the 4th quarter. AlphaQuest LLC now owns 14,835 shares of the company’s stock valued at $83,000 after purchasing an additional 14,441 shares during the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Bank of America reduced their price objective on 4D Molecular Therapeutics from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Chardan Capital reduced their price objective on 4D Molecular Therapeutics from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, May 9th. HC Wainwright restated a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Monday, March 3rd. Royal Bank of Canada dropped their target price on 4D Molecular Therapeutics from $39.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Finally, The Goldman Sachs Group dropped their target price on 4D Molecular Therapeutics from $51.00 to $44.00 and set a “buy” rating for the company in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.56.

4D Molecular Therapeutics Stock Up 7.5%

Shares of NASDAQ:FDMT opened at $3.44 on Friday. The stock has a market cap of $159.36 million, a P/E ratio of -1.21 and a beta of 2.87. 4D Molecular Therapeutics, Inc. has a 52-week low of $2.24 and a 52-week high of $28.93. The business has a fifty day moving average of $3.30 and a two-hundred day moving average of $5.12.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.02). On average, equities analysts anticipate that 4D Molecular Therapeutics, Inc. will post -2.84 earnings per share for the current year.

4D Molecular Therapeutics 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.