4D Molecular Therapeutics (FDMT) stock is soaring 5.21% in Tuesday's trading session, driven by a series of positive analyst updates. The biotechnology company, which focuses on the development of targeted and evolved adeno-associated virus (AAV) vectors for gene therapy, has received renewed confidence from several Wall Street firms.

Leading the bullish sentiment, RBC Capital Markets raised its price target on FDMT to $32 from $26, maintaining an Outperform rating with a Speculative Risk designation. Chardan Capital also reiterated its Buy rating on the stock, lifting its price target to $26 from $25. Barclays, while trimming its price target to $33 from $38, still maintained an Overweight rating on the shares. Morgan Stanley, however, took a more cautious stance, reaffirming its Hold rating on FDMT.

The overall positive analyst sentiment appears to be fueling investor optimism, with the stock's average rating remaining at Overweight. According to FactSet, the mean price target for FDMT now stands at $31.63, suggesting significant upside potential from current levels. As 4D Molecular Therapeutics continues to advance its gene therapy pipeline, investors are closely watching for further developments that could impact the company's long-term prospects.