4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Shares Purchased by Millennium Management LLC

Millennium Management LLC lifted its position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Free Report) by 1,607.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,420,723 shares of the company's stock after buying an additional 1,337,497 shares during the quarter. Millennium Management LLC owned approximately 3.07% of 4D Molecular Therapeutics worth $7,913,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FDMT. Decheng Capital LLC grew its stake in 4D Molecular Therapeutics by 0.5% during the 4th quarter. Decheng Capital LLC now owns 400,000 shares of the company's stock worth $2,228,000 after purchasing an additional 2,165 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in 4D Molecular Therapeutics by 66.1% during the 4th 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. Rhumbline Advisers grew its stake in 4D Molecular Therapeutics by 5.3% during the 4th quarter. Rhumbline Advisers now owns 73,431 shares of the company's stock worth $409,000 after purchasing an additional 3,675 shares in the last quarter. American Century Companies Inc. grew its stake in 4D Molecular Therapeutics by 12.9% during the 4th quarter. American Century Companies Inc. now owns 38,785 shares of the company's stock worth $216,000 after purchasing an additional 4,429 shares in the last quarter. Finally, Nebula Research & Development LLC grew its stake in 4D Molecular Therapeutics by 37.4% during the 4th quarter. Nebula Research & Development LLC now owns 23,064 shares of the company's stock worth $128,000 after purchasing an additional 6,277 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FDMT shares. HC Wainwright reissued a "buy" rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a research note on Monday, March 3rd. Chardan Capital lowered their target price on 4D Molecular Therapeutics from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Friday, May 9th. The Goldman Sachs Group lowered their price objective on 4D Molecular Therapeutics from $51.00 to $44.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Bank of America lowered their price objective on 4D Molecular Therapeutics from $42.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Finally, Royal Bank of Canada lowered their price objective on 4D Molecular Therapeutics from $39.00 to $35.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $29.56.

4D Molecular Therapeutics Trading Down 2.7%

Shares of NASDAQ FDMT traded down $0.10 during trading hours on Friday, reaching $3.61. The stock had a trading volume of 457,093 shares, compared to its average volume of 833,623. The firm has a market cap of $167.23 million, a price-to-earnings ratio of -1.27 and a beta of 2.87. 4D Molecular Therapeutics, Inc. has a fifty-two week low of $2.24 and a fifty-two week high of $28.93. The firm has a 50-day moving average of $3.23 and a 200-day moving average of $4.78.

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