Cantor starts 4D Molecular at Overweight on ‘compelling’ risk/reward

Cantor Fitzgerald initiated coverage of 4D Molecular with an Overweight rating and $32 price target. The analyst says the shares are down 75% over the past three years despite 4D delivering “some important validating platform updates.” The stock does not seem to reflect the progress made across the portfolio, which creates a “compelling” risk/reward profile heading into multiple program and regulatory updates, the analyst tells investors in a research note.