4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Stock Position Raised by Algert Global LLC

Algert Global LLC increased its position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 342.7% in the third quarter, HoldingsChannel reports. The firm owned 73,436 shares of the company’s stock after acquiring an additional 56,848 shares during the period. Algert Global LLC’s holdings in 4D Molecular Therapeutics were worth $794,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 473,094 shares during the period. Assenagon Asset Management S.A. lifted its stake in 4D Molecular Therapeutics by 238.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,543,414 shares of the company’s stock worth $16,684,000 after acquiring an additional 1,087,147 shares in the last quarter. Novo Holdings A S boosted its position in 4D Molecular Therapeutics by 7.1% during the 3rd quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock worth $16,215,000 after acquiring an additional 100,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in 4D Molecular Therapeutics by 10.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 706,000 shares of the company’s stock valued at $14,819,000 after acquiring an additional 65,000 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its stake in 4D Molecular Therapeutics by 247.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 354,857 shares of the company’s stock valued at $7,448,000 after acquiring an additional 252,789 shares in the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

4D Molecular Therapeutics Price Performance

Shares of NASDAQ:FDMT opened at $7.84 on Friday. The stock has a market capitalization of $362.44 million, a P/E ratio of -2.75 and a beta of 2.82. The business has a 50-day moving average of $8.83 and a two-hundred day moving average of $15.89. 4D Molecular Therapeutics, Inc. has a fifty-two week low of $7.32 and a fifty-two week high of $36.25.

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.