- HC Wainwright has initiated coverage on 4D Molecular Therapeutics Inc (NASDAQ:FDMT) with a price target of $36 and a Buy rating.
- The analyst lists the following reasons for being bullish on the stock.
- The analyst believes R100 intravitreal vector delivery in wet age-related macular degeneration patients could define a paradigm shift in available therapies, specifically in the context of SOC repeat intravitreal injections of anti-VEGF therapy.
- With the vector pipeline spanning ophthalmology, cardiology, pulmonology, and vector transport by multiple delivery methods, HC Wainwright believes there are multiple opportunities for optimized vector targeting.
- The analyst highlights supportive interim results from the ongoing Phase 1/2 trial.
- Recently, the company announced interim clinical data from cohort 1 of the Phase 1/2 trial of intravitreal 4D-150 for Wet Age-Related Macular Degeneration (wet AMD).
- 4D-150 was safe and well tolerated, with no serious adverse events or dose-limiting toxicities reported.
- Price Action: FDMT shares are up 1.85% at $22.82 on the last check Friday.
Elliott Management Reportedly Eyes Purchase Of Parts Of This Ailing AMC Theatres Rival
Activist fund Elliott Management is reportedly pursuing ailing movie theater chain Cineworld Group plc (OTC: CNNWQ) (OTC: CNWGQ).
