4D Molecular Therapeutics’ (FDMT) Buy Rating Reiterated at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a report issued on Friday,Benzinga reports. They currently have a $25.00 price target on the stock.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a report on Tuesday, July 29th. Barclays cut their price target on shares of 4D Molecular Therapeutics from $45.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, May 9th. Finally, The Goldman Sachs Group cut their price target on shares of 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, 4D Molecular Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $29.56.

4D Molecular Therapeutics Stock Up 42.7%

Shares of 4D Molecular Therapeutics stock opened at $6.42 on Friday. The business has a fifty day simple moving average of $4.21 and a 200-day simple moving average of $4.03. The firm has a market cap of $297.44 million, a price-to-earnings ratio of -2.02 and a beta of 2.83. 4D Molecular Therapeutics has a fifty-two week low of $2.23 and a fifty-two week high of $17.41.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued 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). 4D Molecular Therapeutics had a negative net margin of 767,126.06% and a negative return on equity of 33.26%. Analysts anticipate that 4D Molecular Therapeutics will post -2.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. BVF Inc. IL increased its position in 4D Molecular Therapeutics by 70.8% in the 1st quarter. BVF Inc. IL now owns 4,561,289 shares of the company’s stock worth $14,733,000 after purchasing an additional 1,890,647 shares during the last quarter. Millennium Management LLC increased its position in 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 during the last quarter. Federated Hermes Inc. increased its position in 4D Molecular Therapeutics by 33,131.8% in the 1st quarter. Federated Hermes Inc. now owns 1,250,181 shares of the company’s stock worth $4,038,000 after purchasing an additional 1,246,419 shares during the last quarter. JPMorgan Chase & Co. increased its position in 4D Molecular Therapeutics by 159.5% in the 4th quarter. JPMorgan Chase & Co. now owns 820,069 shares of the company’s stock worth $4,568,000 after purchasing an additional 504,086 shares during the last quarter. Finally, Norges Bank acquired a new position in 4D Molecular Therapeutics in the 4th quarter worth about $2,790,000. 99.27% of the stock is owned by institutional investors and hedge funds.

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.