Morgan Stanley Initiates Coverage on 4D Molecular Therapeutics (NASDAQ:FDMT)

Stock analysts at Morgan Stanley initiated coverage on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research note issued on Thursday, Marketbeat reports. The firm set an “underweight” rating and a $8.00 price target on the stock. Morgan Stanley’s price target indicates a potential upside of 2.70% from the company’s previous close.

Several other research analysts have also recently issued reports on FDMT. Royal Bank of Canada decreased 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 report on Thursday, November 14th. Leerink Partners restated an “outperform” rating and issued a $36.00 price objective (down from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. Chardan Capital reiterated a “buy” rating and set a $39.00 target price on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. Finally, Cantor Fitzgerald downgraded 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, September 23rd. 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.com, 4D Molecular Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $42.13.

4D Molecular Therapeutics Price Performance

Shares of NASDAQ:FDMT opened at $7.79 on Thursday. The business has a fifty day moving average price of $9.56 and a 200-day moving average price of $16.53. The company has a market capitalization of $360.13 million, a PE ratio of -2.73 and a beta of 2.82. 4D Molecular Therapeutics has a 1-year low of $7.32 and a 1-year high of $36.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FDMT. Sei Investments Co. bought a new position in shares of 4D Molecular Therapeutics in the 1st quarter worth approximately $504,000. ProShare Advisors LLC bought a new position in 4D Molecular Therapeutics in the first quarter worth approximately $344,000. Vanguard Group Inc. raised its position in 4D Molecular Therapeutics by 25.3% in the first quarter. Vanguard Group Inc. now owns 2,339,943 shares of the company’s stock worth $74,551,000 after acquiring an additional 473,094 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of 4D Molecular Therapeutics by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,952 shares of the company’s stock valued at $764,000 after acquiring an additional 1,356 shares during the period. Finally, Bellevue Group AG bought a new stake in shares of 4D Molecular Therapeutics during the 1st quarter valued at $500,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

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.