4D Molecular Therapeutics (NASDAQ:FDMT) Shares Down 2.3%

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) were down 2.3% during trading on Wednesday . The company traded as low as $26.13 and last traded at $26.13. Approximately 43,923 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 1,080,685 shares. The stock had previously closed at $26.75.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FDMT shares. Jefferies Financial Group boosted their price target on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Barclays started coverage on shares of 4D Molecular Therapeutics in a report on Monday. They issued an “overweight” rating for the company. Royal Bank of Canada boosted their price objective on shares of 4D Molecular Therapeutics from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday. HC Wainwright restated a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a report on Friday, March 1st. Finally, BMO Capital Markets lowered their price objective on shares of 4D Molecular Therapeutics from $70.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, April 1st. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $44.22.

4D Molecular Therapeutics Trading Down 2.1 %

The stock’s fifty day moving average is $28.97 and its 200 day moving average is $20.13. The company has a market capitalization of $1.27 billion, a P/E ratio of -9.32 and a beta of 2.87.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.09). 4D Molecular Therapeutics had a negative return on equity of 34.14% and a negative net margin of 436.30%. The company had revenue of ($0.02) million during the quarter, compared to the consensus estimate of $4.67 million. On average, analysts expect that 4D Molecular Therapeutics, Inc. will post -3.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other 4D Molecular Therapeutics news, CEO David Kirn sold 5,696 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $18.41, for a total value of $104,863.36. Following the completion of the transaction, the chief executive officer now directly owns 1,151,154 shares in the company, valued at approximately $21,192,745.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO David Kirn sold 5,696 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $18.41, for a total value of $104,863.36. Following the sale, the chief executive officer now directly owns 1,151,154 shares of the company’s stock, valued at approximately $21,192,745.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott Bizily sold 1,750 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $25.74, for a total transaction of $45,045.00. Following the sale, the insider now owns 1,737 shares in the company, valued at approximately $44,710.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 149,638 shares of company stock worth $4,179,299. 10.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. RA Capital Management L.P. raised its position in shares of 4D Molecular Therapeutics by 35.6% during the third quarter. RA Capital Management L.P. now owns 4,163,211 shares of the company’s stock valued at $52,998,000 after buying an additional 1,093,680 shares during the last quarter. State Street Corp raised its position in shares of 4D Molecular Therapeutics by 65.3% during the first quarter. State Street Corp now owns 2,042,189 shares of the company’s stock valued at $35,105,000 after buying an additional 807,031 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of 4D Molecular Therapeutics by 415.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock valued at $16,539,000 after buying an additional 658,069 shares during the last quarter. BlackRock Inc. raised its position in shares of 4D Molecular Therapeutics by 14.3% during the second quarter. BlackRock Inc. now owns 2,914,430 shares of the company’s stock valued at $52,664,000 after buying an additional 363,695 shares during the last quarter. Finally, Novo Holdings A S raised its position in shares of 4D Molecular Therapeutics by 25.0% during the fourth quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock valued at $30,390,000 after buying an additional 300,000 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

About 4D Molecular Therapeutics

4D Molecular Therapeutics, Inc, a clinical-stage biotherapeutics company, develops genetic medicines using its therapeutic vector evolution platform in the Netherland and the United States. The company develops a portfolio of genetic medicine product candidates focuses in three therapeutic areas for ophthalmology, cardiology, and pulmonology.