Voloridge Investment Management LLC Cuts Stock Holdings in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Voloridge Investment Management LLC lessened its stake in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Free Report) by 36.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,899 shares of the company's stock after selling 106,132 shares during the quarter. Voloridge Investment Management LLC owned about 0.40% of 4D Molecular Therapeutics worth $1,024,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in FDMT. Peapod Lane Capital LLC bought a new position in shares of 4D Molecular Therapeutics during the 4th quarter worth about $806,000. Rhumbline Advisers raised its holdings in shares of 4D Molecular Therapeutics by 5.3% in the 4th quarter. Rhumbline Advisers now owns 73,431 shares of the company's stock worth $409,000 after acquiring an additional 3,675 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in shares of 4D Molecular Therapeutics by 100.0% in the 4th quarter. Proficio Capital Partners LLC now owns 20,000 shares of the company's stock worth $111,000 after acquiring an additional 10,000 shares during the last quarter. M&T Bank Corp raised its holdings in shares of 4D Molecular Therapeutics by 98.9% in the 4th quarter. M&T Bank Corp now owns 37,487 shares of the company's stock worth $209,000 after acquiring an additional 18,639 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of 4D Molecular Therapeutics in the 4th quarter worth about $629,000. Institutional investors own 99.27% of the company's stock.

Wall Street Analysts Forecast Growth

FDMT has been the topic of a number of analyst reports. Barclays lowered their target price on shares of 4D Molecular Therapeutics from $45.00 to $38.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Chardan Capital decreased their price objective on shares of 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. Bank of America decreased their price target 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. The Goldman Sachs Group reduced their price objective on shares of 4D Molecular Therapeutics from $51.00 to $44.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, Royal Bank of Canada reduced their price objective on shares of 4D Molecular Therapeutics from $39.00 to $35.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $29.56.

4D Molecular Therapeutics Stock Up 3.2%

Shares of NASDAQ FDMT traded up $0.12 during mid-day trading on Tuesday, reaching $3.87. 318,439 shares of the company were exchanged, compared to its average volume of 830,349. 4D Molecular Therapeutics, Inc. has a 52 week low of $2.24 and a 52 week high of $28.93. The stock has a market capitalization of $179.28 million, a PE ratio of -1.36 and a beta of 2.87. The company's 50 day moving average price is $3.24 and its 200 day moving average price is $4.72.

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

4D Molecular Therapeutics Company 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.