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

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

Several other equities analysts also recently weighed in on the stock. Royal Bank of Canada dropped their target price on shares of 4D Molecular Therapeutics from $39.00 to $35.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. Morgan Stanley lowered 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 report on Monday, January 13th. Bank of America decreased their price objective on shares of 4D Molecular Therapeutics from $42.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, March 10th. HC Wainwright reiterated a "buy" rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Monday, March 3rd. Finally, BMO Capital Markets cut shares of 4D Molecular Therapeutics from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $40.00 to $15.00 in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, 4D Molecular Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $29.56.

4D Molecular Therapeutics Stock Down 4.9%

Shares of NASDAQ FDMT traded down $0.16 during midday trading on Friday, hitting $3.08. The company had a trading volume of 1,055,542 shares, compared to its average volume of 836,589. 4D Molecular Therapeutics has a twelve month low of $2.24 and a twelve month high of $28.93. The business has a 50-day simple moving average of $3.38 and a two-hundred day simple moving average of $5.25. The firm has a market capitalization of $142.68 million, a price-to-earnings ratio of -1.08 and a beta of 2.87.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.02). On average, equities analysts forecast that 4D Molecular Therapeutics will post -2.84 EPS for the current year.

Institutional Trading of 4D Molecular Therapeutics

Several institutional investors have recently added to or reduced their stakes in FDMT. Barclays PLC increased its stake in 4D Molecular Therapeutics by 141.0% during the third quarter. Barclays PLC now owns 114,848 shares of the company's stock valued at $1,241,000 after purchasing an additional 67,202 shares during the last quarter. Marquette Asset Management LLC bought a new stake in 4D Molecular Therapeutics during the fourth quarter valued at $116,000. Peapod Lane Capital LLC bought a new stake in 4D Molecular Therapeutics during the fourth quarter valued at $806,000. Rhumbline Advisers increased its stake in 4D Molecular Therapeutics by 5.3% during the fourth quarter. Rhumbline Advisers now owns 73,431 shares of the company's stock valued at $409,000 after purchasing an additional 3,675 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its stake in 4D Molecular Therapeutics by 100.0% during the fourth quarter. Proficio Capital Partners LLC now owns 20,000 shares of the company's stock valued at $111,000 after purchasing an additional 10,000 shares during the last quarter. 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.