Barclays Issues Pessimistic Forecast for 4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price

4D Molecular Therapeutics (NASDAQ:FDMT) had its price objective cut by Barclays from $45.00 to $38.00 in a research note published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also weighed in on FDMT. Morgan Stanley reduced their price objective on 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating for the company in a report on Monday, January 13th. Royal Bank of Canada cut their price target on 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. Leerink Partners lowered their price objective on 4D Molecular Therapeutics from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. 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 report on Monday, March 10th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of 4D Molecular Therapeutics in a research report on Thursday, April 24th. One 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.56.

4D Molecular Therapeutics Price Performance

NASDAQ FDMT opened at $3.08 on Friday. The business’s fifty day moving average is $3.38 and its 200-day moving average is $5.29. The stock 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 has a one year low of $2.24 and a one year high of $28.93.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.02). Research analysts expect that 4D Molecular Therapeutics will post -2.84 EPS for the current fiscal year.

Institutional Trading of 4D Molecular Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of FDMT. Barclays PLC grew its position in shares of 4D Molecular Therapeutics by 141.0% during the 3rd 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 in the last quarter. Marquette Asset Management LLC purchased a new position in 4D Molecular Therapeutics during the fourth quarter worth about $116,000. Peapod Lane Capital LLC bought a new position in 4D Molecular Therapeutics in 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 valued at $409,000 after acquiring an additional 3,675 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its position in shares of 4D Molecular Therapeutics by 100.0% during the 4th quarter. Proficio Capital Partners LLC now owns 20,000 shares of the company’s stock valued at $111,000 after acquiring an additional 10,000 shares during the last quarter. 99.27% of the stock is currently owned by hedge funds and other 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.