PI Global Investments
Hedge Funds

New York State Common Retirement Fund Increases Holdings in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)


New York State Common Retirement Fund raised its position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMTGet Rating) by 59.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,944 shares of the company’s stock after buying an additional 8,570 shares during the period. New York State Common Retirement Fund owned approximately 0.07% of 4D Molecular Therapeutics worth $347,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in 4D Molecular Therapeutics in the 4th quarter valued at about $46,000. Virtus ETF Advisers LLC boosted its position in 4D Molecular Therapeutics by 12.2% in the 4th quarter. Virtus ETF Advisers LLC now owns 8,140 shares of the company’s stock valued at $179,000 after buying an additional 883 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in 4D Molecular Therapeutics in the 4th quarter valued at about $191,000. Royce & Associates LP purchased a new position in 4D Molecular Therapeutics in the 4th quarter valued at about $204,000. Finally, ProShare Advisors LLC purchased a new position in 4D Molecular Therapeutics in the 4th quarter valued at about $233,000. 76.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on FDMT. SVB Leerink cut shares of 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $28.00 to $12.00 in a research report on Friday, August 12th. Jefferies Financial Group began coverage on shares of 4D Molecular Therapeutics in a research note on Wednesday, June 22nd. They issued a “buy” rating and a $22.00 target price on the stock.

4D Molecular Therapeutics Stock Performance

Shares of 4D Molecular Therapeutics stock opened at $8.84 on Friday. The firm has a market cap of $286.24 million, a PE ratio of -2.63 and a beta of 1.87. The firm’s 50-day simple moving average is $8.63 and its 200-day simple moving average is $11.21. 4D Molecular Therapeutics, Inc. has a 1 year low of $5.32 and a 1 year high of $36.14.

4D Molecular Therapeutics Profile

(Get Rating)

4D Molecular Therapeutics, Inc, a clinical-stage gene therapy company, develops product candidates using its adeno-associated viruses vectors. It develops a portfolio of gene therapy product candidates focuses in three therapeutic areas: ophthalmology, cardiology, and pulmonology. The company has three product candidates that are in clinical trials: 4D-125 that is in a Phase 1/2 clinical trial for the treatment of X-linked retinitis pigmentosa; 4D-110 that is in a Phase 1/2 clinical trial for the treatment of choroideremia; and 4D-310, which is in a Phase 1/2 clinical trial for the treatment of Fabry disease.

Further Reading

Institutional Ownership by Quarter for 4D Molecular Therapeutics (NASDAQ:FDMT)



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