4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Short Interest Down 15.1% in February

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) was the recipient of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 5,240,000 shares, a decline of 15.1% from the February 13th total of 6,170,000 shares. Approximately 12.2% of the company’s shares are sold short. Based on an average daily trading volume, of 906,600 shares, the short-interest ratio is currently 5.8 days.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Several institutional investors have recently modified their holdings of FDMT. Millennium Management LLC grew its holdings in shares of 4D Molecular Therapeutics by 1,607.1% in the fourth quarter. Millennium Management LLC now owns 1,420,723 shares of the company’s stock valued at $7,913,000 after acquiring an additional 1,337,497 shares in the last quarter. Braidwell LP grew its holdings in 4D Molecular Therapeutics by 231.7% during the third quarter. Braidwell LP now owns 1,225,448 shares of the company’s stock valued at $13,247,000 after purchasing an additional 855,990 shares during the period. JPMorgan Chase & Co. grew its holdings in 4D Molecular Therapeutics by 159.5% during the fourth quarter. JPMorgan Chase & Co. now owns 820,069 shares of the company’s stock valued at $4,568,000 after purchasing an additional 504,086 shares during the period. Norges Bank bought a new position in 4D Molecular Therapeutics during the fourth quarter valued at $2,790,000. Finally, Cubist Systematic Strategies LLC grew its holdings in 4D Molecular Therapeutics by 2,084.5% during the fourth quarter. Cubist Systematic Strategies LLC now owns 448,831 shares of the company’s stock valued at $2,500,000 after purchasing an additional 428,285 shares during the period. 99.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on FDMT shares. Morgan Stanley reduced their price target on 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating on the stock in a research report on Monday, January 13th. BMO Capital Markets lowered 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $40.00 to $15.00 in a research report on Monday, January 13th. Leerink Partners reduced their price target on 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Chardan Capital reduced their price target on 4D Molecular Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, 4D Molecular Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $30.63.

4D Molecular Therapeutics Stock Performance

FDMT stock opened at $3.75 on Friday. The stock’s 50 day simple moving average is $4.72 and its 200 day simple moving average is $7.57. 4D Molecular Therapeutics has a fifty-two week low of $3.66 and a fifty-two week high of $36.25. The company has a market cap of $173.63 million, a P/E ratio of -1.32 and a beta of 2.83.

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

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.