Royal Bank of Canada Increases 4D Molecular Therapeutics (NASDAQ:FDMT) Price Target to $40.00

4D Molecular Therapeutics (NASDAQ:FDMT) had its price objective hoisted by Royal Bank of Canada from $35.00 to $40.00 in a research note published on Monday, Benzinga reports. They currently have an outperform rating on the stock.

FDMT has been the topic of a number of other research reports. Jefferies Financial Group lifted their target price on 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a buy rating in a research report on Monday, April 1st. HC Wainwright reaffirmed a buy rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a research report on Friday, March 1st. BMO Capital Markets cut their price objective on 4D Molecular Therapeutics from $70.00 to $63.00 and set an outperform rating for the company in a report on Monday, April 1st. Barclays initiated coverage on shares of 4D Molecular Therapeutics in a report on Monday. They set an overweight rating on the stock. Finally, The Goldman Sachs Group reiterated a buy rating and issued a $81.00 price target on shares of 4D Molecular Therapeutics in a research note on Wednesday, February 7th. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of Buy and a consensus target price of $44.22.

4D Molecular Therapeutics Trading Down 2.1 %

Shares of NASDAQ FDMT opened at $24.78 on Monday. The firm has a market cap of $1.27 billion, a PE ratio of -9.32 and a beta of 2.87. The company has a fifty day moving average price of $28.97 and a 200 day moving average price of $20.13. 4D Molecular Therapeutics has a 1-year low of $9.44 and a 1-year high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its earnings results 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 business had revenue of ($0.02) million for the quarter, compared to analyst estimates of $4.67 million. Equities research analysts forecast that 4D Molecular Therapeutics will post -3.03 EPS for the current year.

Insider Buying and Selling at 4D Molecular Therapeutics

In other news, CEO David Kirn sold 5,696 shares of the 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 transaction, the chief executive officer now directly owns 1,151,154 shares of the company’s stock, valued at $21,192,745.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other 4D Molecular Therapeutics news, CEO David Kirn sold 5,696 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $18.41, for a total transaction of $104,863.36. Following the completion of the sale, the chief executive officer now directly owns 1,151,154 shares in the company, valued at $21,192,745.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Young Kim sold 24,552 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $30.05, for a total value of $737,787.60. Following the completion of the transaction, the insider now directly owns 1,043 shares in the company, valued at approximately $31,342.15. The disclosure for this sale can be found here. Insiders sold 149,638 shares of company stock valued at $4,179,299 in the last quarter. 10.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of FDMT. Swiss National Bank increased its position in 4D Molecular Therapeutics by 6.9% during the first quarter. Swiss National Bank now owns 57,000 shares of the company’s stock worth $862,000 after acquiring an additional 3,700 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of 4D Molecular Therapeutics by 29.7% during the first quarter. JPMorgan Chase & Co. now owns 367,545 shares of the company’s stock worth $5,557,000 after purchasing an additional 84,158 shares during the period. Bank of New York Mellon Corp raised its position in shares of 4D Molecular Therapeutics by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 101,322 shares of the company’s stock valued at $1,532,000 after buying an additional 1,136 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of 4D Molecular Therapeutics by 55.4% in the first quarter. MetLife Investment Management LLC now owns 17,379 shares of the company’s stock valued at $263,000 after buying an additional 6,197 shares during the period. Finally, Rhumbline Advisers grew its position in 4D Molecular Therapeutics by 14.3% during the first quarter. Rhumbline Advisers now owns 35,097 shares of the company’s stock worth $531,000 after buying an additional 4,382 shares in the last quarter. Institutional investors and hedge funds 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.