4D Molecular Therapeutics (NASDAQ:FDMT) Shares Up 7.3% – Here’s Why

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) shares rose 7.3% during mid-day trading on Friday. The stock traded as high as $13.56 and last traded at $13.6280. Approximately 277,230 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 853,482 shares. The stock had previously closed at $12.70.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. B. Riley Financial reissued a “buy” rating on shares of 4D Molecular Therapeutics in a report on Monday, August 17th. Cantor Fitzgerald raised shares of 4D Molecular Therapeutics from a “neutral” rating to an “overweight” rating and set a $20.00 target price on the stock in a research note on Monday, September 14th. Weiss Ratings restated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research report on Friday, July 17th. HC Wainwright reiterated a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Monday, July 20th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $32.00 price objective on shares of 4D Molecular Therapeutics in a research report on Thursday, August 13th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.90.

4D Molecular Therapeutics Price Performance

The company has a current ratio of 8.03, a quick ratio of 8.03 and a debt-to-equity ratio of 0.05. The stock has a market cap of $751.82 million, a P/E ratio of -5.16 and a beta of 2.75. The company’s fifty day simple moving average is $13.72 and its 200-day simple moving average is $11.39.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its quarterly earnings results on Thursday, August 13th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.02). 4D Molecular Therapeutics had a negative net margin of 194.74% and a negative return on equity of 41.33%. The company had revenue of $3.78 million during the quarter, compared to analyst estimates of $3.62 million. As a group, sell-side analysts forecast that 4D Molecular Therapeutics, Inc. will post -4.07 EPS for the current year.

Insiders Place Their Bets

In other 4D Molecular Therapeutics news, insider David Kirn sold 58,333 shares of the stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $12.92, for a total transaction of $753,662.36. Following the transaction, the insider directly owned 709,153 shares in the company, valued at $9,162,256.76. This trade represents a 7.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 134,570 shares of company stock valued at $1,759,323. 7.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Toth Financial Advisory Corp bought a new position in shares of 4D Molecular Therapeutics during the 3rd quarter worth approximately $29,000. Opaleye Management Inc. increased its holdings in 4D Molecular Therapeutics by 197.8% in the second quarter. Opaleye Management Inc. now owns 334,437 shares of the company’s stock valued at $4,448,000 after buying an additional 222,146 shares in the last quarter. Engineers Gate Manager LP lifted its stake in shares of 4D Molecular Therapeutics by 132.0% during the second quarter. Engineers Gate Manager LP now owns 68,206 shares of the company’s stock valued at $907,000 after buying an additional 38,806 shares during the period. AXQ Capital LP acquired a new position in shares of 4D Molecular Therapeutics in the 2nd quarter valued at about $186,000. Finally, Headlands Technologies LLC grew its holdings in 4D Molecular Therapeutics by 20.6% during the 2nd quarter. Headlands Technologies LLC now owns 19,238 shares of the company’s stock valued at $256,000 after purchasing an additional 3,282 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

About 4D Molecular Therapeutics

4D Molecular Therapeutics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for serious diseases. The company uses its Therapeutic Vector Evolution platform to engineer adeno-associated virus (AAV) vectors designed to deliver genetic medicines to specific tissues, including the eye and lungs.

Its investigational pipeline includes 4D-150, an intravitreal gene therapy being developed for retinal diseases such as wet age-related macular degeneration and diabetic macular edema.