Here’s Why 4D Molecular Therapeutics (FDMT) Stock Boosted in Q4

Meridian Funds, managed by ArrowMark Partners, released its “Meridian Small Cap Growth Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 7.41% net compared to a 4.13% return for the Russell 2000 Growth Index. The general positive factors in the market helped the strategy to outperform in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Meridian Small Cap Growth Fund highlighted stocks like 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) in its Q4 2022 investor letter. Headquartered in Emeryville, California, 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) is a clinical-stage biotherapeutics company. On March 21, 2023, 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) stock closed at $17.68 per share. One-month return of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) was -12.69%, and its shares gained 11.48% of their value over the last 52 weeks. 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) has a market capitalization of $587.584 million.

Meridian Small Cap Growth Fund made the following comment about 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) in its Q4 2022 investor letter:

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT), is a clinical-stage gene therapy company with product candidates in three areas: ophthalmology, cardiology, and pulmonology. Our initial enthusiasm for this company was driven primarily by its lead product candidate, 4D-310, for the treatment of Fabry disease, a rare genetic disorder. While the clinical development of 4D-310 continued to progress during the quarter, early-stage readouts on two other experimental treatments boosted the stock. Initial clinical trial data on 4D-710 for the treatment of cystic fibrosis lung disease and 4D-150 for the treatment of wet age-related macular degeneration was favorable, helping validate the company’s proprietary Therapeutic Vector Evolution platform for developing therapies. During the quarter, we trimmed our position as the share price appreciated based on our risk discipline.”

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4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) at the end of the fourth quarter which was 16 in the previous quarter.

We discussed 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) in another article and shared the list of rebounding small-cap stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.