4D Molecular Therapeutics (NASDAQ:FDMT) Price Target Cut to $38.00 by Analysts at Barclays

4D Molecular Therapeutics (NASDAQ:FDMT - Free Report) had its price target reduced by Barclays from $45.00 to $38.00 in a report issued on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently weighed in on FDMT. BMO Capital Markets cut shares of 4D Molecular Therapeutics from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $40.00 to $15.00 in a report on Monday, January 13th. Chardan Capital dropped their price target on shares of 4D Molecular Therapeutics from $30.00 to $28.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Royal Bank of Canada decreased their price target on 4D Molecular Therapeutics from $39.00 to $35.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Weiss Ratings reiterated a "sell (e+)" rating on shares of 4D Molecular Therapeutics in a research report on Thursday, April 24th. Finally, HC Wainwright reissued a "buy" rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $29.56.

4D Molecular Therapeutics Stock Down 4.0%

Shares of FDMT traded down $0.13 during midday trading on Friday, hitting $3.14. The company's stock had a trading volume of 299,375 shares, compared to its average volume of 832,557. 4D Molecular Therapeutics has a one year low of $2.24 and a one year high of $28.93. The stock has a market capitalization of $145.46 million, a price-to-earnings ratio of -1.10 and a beta of 2.87. The company's fifty day simple moving average is $3.35 and its two-hundred day simple moving average is $5.20.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last released its 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). On average, research analysts predict that 4D Molecular Therapeutics will post -2.84 earnings per share for the current year.

Hedge Funds Weigh In On 4D Molecular Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FDMT. Y Intercept Hong Kong Ltd bought a new position in 4D Molecular Therapeutics during the first quarter valued at $41,000. KLP Kapitalforvaltning AS bought a new position in 4D Molecular Therapeutics during the 4th quarter worth about $48,000. Point72 Asia Singapore Pte. Ltd. bought a new position in 4D Molecular Therapeutics in the fourth quarter worth approximately $50,000. PNC Financial Services Group Inc. raised its holdings 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 worth $51,000 after purchasing an additional 3,630 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in 4D Molecular Therapeutics by 5,291.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 9,921 shares of the company's stock valued at $55,000 after acquiring an additional 9,737 shares in the last quarter. 99.27% of the stock is owned by 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.