ProShare Advisors LLC Increases Position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

ProShare Advisors LLC lifted its holdings in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 30.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,369 shares of the company’s stock after purchasing an additional 3,783 shares during the quarter. ProShare Advisors LLC’s holdings in 4D Molecular Therapeutics were worth $91,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Millennium Management LLC boosted its position in shares of 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 worth $7,913,000 after purchasing an additional 1,337,497 shares in the last quarter. Corton Capital Inc. acquired a new stake in shares of 4D Molecular Therapeutics in the 4th quarter worth $182,000. Cubist Systematic Strategies LLC lifted its position in 4D Molecular Therapeutics by 2,084.5% during the 4th quarter. Cubist Systematic Strategies LLC now owns 448,831 shares of the company’s stock worth $2,500,000 after acquiring an additional 428,285 shares during the period. Bank of America Corp DE lifted its position in 4D Molecular Therapeutics by 49.8% during the 4th quarter. Bank of America Corp DE now owns 384,880 shares of the company’s stock worth $2,144,000 after acquiring an additional 127,885 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in 4D Molecular Therapeutics during the 4th quarter worth about $532,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

4D Molecular Therapeutics Stock Performance

Shares of FDMT opened at $3.87 on Wednesday. The stock has a fifty day moving average of $3.24 and a two-hundred day moving average of $4.72. The company has a market capitalization of $179.28 million, a PE ratio of -1.36 and a beta of 2.87. 4D Molecular Therapeutics, Inc. has a fifty-two week low of $2.24 and a fifty-two week high of $28.93.

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

Wall Street Analyst Weigh In

A number of analysts have commented on FDMT shares. HC Wainwright reaffirmed a “buy” rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a research report on Monday, March 3rd. Chardan Capital cut their price target 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. The Goldman Sachs Group reduced 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. Bank of America reduced their target price on 4D Molecular Therapeutics from $42.00 to $40.00 and set a “buy” rating for the company in a report on Monday, March 10th. Finally, Barclays cut their price target on 4D Molecular Therapeutics from $45.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, 4D Molecular Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $29.56.

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.