Chardan Capital Issues Pessimistic Forecast for 4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price

4D Molecular Therapeutics (NASDAQ:FDMT) had its target price cut by equities researchers at Chardan Capital from $30.00 to $28.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Several other research firms have also recently issued reports on FDMT. Weiss Ratings reiterated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a report on Wednesday, February 19th. Morgan Stanley reduced their target price on shares of 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating for the company in a research report on Monday, January 13th. Bank of America lowered their price target on shares of 4D Molecular Therapeutics from $79.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada decreased their target price on shares of 4D Molecular Therapeutics from $39.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, HC Wainwright restated a “buy” rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Monday. 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 MarketBeat, 4D Molecular Therapeutics has an average rating of “Moderate Buy” and an average price target of $31.38.

4D Molecular Therapeutics Price Performance

NASDAQ:FDMT opened at $4.16 on Tuesday. 4D Molecular Therapeutics has a 1-year low of $3.92 and a 1-year high of $36.25. The company has a 50 day moving average price of $5.12 and a 200-day moving average price of $8.37. The firm has a market cap of $192.31 million, a price-to-earnings ratio of -1.46 and a beta of 2.81.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its quarterly earnings results on Friday, February 28th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.10). On average, sell-side analysts anticipate that 4D Molecular Therapeutics will post -2.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Large investors have recently bought and sold shares of the stock. KLP Kapitalforvaltning AS purchased a new stake in shares of 4D Molecular Therapeutics in the 4th quarter valued at approximately $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in 4D Molecular Therapeutics in the fourth quarter valued at $50,000. PNC Financial Services Group Inc. raised its stake in 4D Molecular Therapeutics by 66.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,124 shares of the company’s stock valued at $51,000 after buying an additional 3,630 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in 4D Molecular Therapeutics by 5,291.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 9,921 shares of the company’s stock worth $55,000 after buying an additional 9,737 shares during the last quarter. Finally, Velan Capital Investment Management LP acquired a new position in shares of 4D Molecular Therapeutics during the 4th quarter worth about $56,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

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.