Deutsche Bank AG Sells 560,784 Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Deutsche Bank AG reduced its stake in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Free Report) by 69.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 241,853 shares of the company's stock after selling 560,784 shares during the period. Deutsche Bank AG owned 0.52% of 4D Molecular Therapeutics worth $1,347,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised 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 worth $4,568,000 after purchasing an additional 504,086 shares in the last quarter. Norges Bank bought a new stake in shares of 4D Molecular Therapeutics in the 4th quarter worth $2,790,000. Cubist Systematic Strategies LLC lifted its holdings in shares of 4D Molecular Therapeutics by 2,084.5% in the fourth quarter. Cubist Systematic Strategies LLC now owns 448,831 shares of the company's stock valued at $2,500,000 after buying an additional 428,285 shares during the period. Peapod Lane Capital LLC bought a new position in 4D Molecular Therapeutics during the fourth quarter valued at about $806,000. Finally, Bank of America Corp DE grew its holdings in 4D Molecular Therapeutics by 49.8% during the fourth quarter. Bank of America Corp DE now owns 384,880 shares of the company's stock worth $2,144,000 after acquiring an additional 127,885 shares during the period. 99.27% of the stock is owned by institutional investors and hedge funds.

4D Molecular Therapeutics Price Performance

NASDAQ FDMT traded up $0.24 on Thursday, hitting $3.71. 401,097 shares of the stock were exchanged, compared to its average volume of 833,552. The company's 50-day moving average price is $3.23 and its two-hundred day moving average price is $4.83. 4D Molecular Therapeutics, Inc. has a 52-week low of $2.24 and a 52-week high of $28.93. The company has a market capitalization of $171.87 million, a price-to-earnings ratio of -1.30 and a beta of 2.87.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last issued its quarterly 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). Equities analysts predict that 4D Molecular Therapeutics, Inc. will post -2.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on FDMT. Chardan Capital cut their price target on shares of 4D Molecular Therapeutics from $28.00 to $25.00 and set a "buy" rating for the company in a report on Friday, May 9th. Bank of America cut their target price 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. Royal Bank of Canada decreased their price target on shares of 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. HC Wainwright reaffirmed a "buy" rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a report on Monday, March 3rd. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of 4D Molecular Therapeutics in a research note on Saturday, May 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.56.

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.