4D Molecular Therapeutics (NASDAQ:FDMT) Shares Up 7.4% – What’s Next?

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)’s share price shot up 7.4% on Tuesday. The stock traded as high as $13.13 and last traded at $13.1950. 90,859 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 851,308 shares. The stock had previously closed at $12.29.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FDMT. HC Wainwright reissued a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a report on Monday, July 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a report on Thursday, October 15th. Bank of America boosted their target price on 4D Molecular Therapeutics from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, September 29th. B. Riley Financial reiterated a “buy” rating on shares of 4D Molecular Therapeutics in a report on Monday, August 17th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $32.00 target price on shares of 4D Molecular Therapeutics in a research report on Thursday, August 13th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.90.

4D Molecular Therapeutics Stock Performance

The firm has a market capitalization of $697.13 million, a price-to-earnings ratio of -4.80 and a beta of 2.75. The company has a 50-day moving average of $14.07 and a 200-day moving average of $11.60. The company has a current ratio of 8.03, a quick ratio of 8.03 and a debt-to-equity ratio of 0.05.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its earnings results on Thursday, August 13th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.02). The business had revenue of $3.78 million during the quarter, compared to the consensus estimate of $3.62 million. 4D Molecular Therapeutics had a negative return on equity of 41.33% and a negative net margin of 194.74%. On average, equities research analysts forecast that 4D Molecular Therapeutics, Inc. will post -4.14 earnings per share for the current fiscal year.

Insider Activity

In other news, insider David Kirn sold 58,333 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was 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 of the company’s stock, valued at approximately $9,162,256.76. This trade represents a 7.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 136,205 shares of company stock valued at $1,780,316 over the last ninety days. Corporate insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Jupiter Topco LLC acquired a new stake in 4D Molecular Therapeutics in the 2nd quarter valued at about $76,466,000. BlackRock Inc. purchased a new stake in shares of 4D Molecular Therapeutics in the second quarter worth approximately $60,463,000. Janus Henderson Group PLC grew its holdings in shares of 4D Molecular Therapeutics by 13.2% during the 1st quarter. Janus Henderson Group PLC now owns 5,247,151 shares of the company’s stock valued at $48,868,000 after acquiring an additional 611,276 shares in the last quarter. Trails Edge Capital Partners LP acquired a new position in 4D Molecular Therapeutics in the 2nd quarter worth about $29,631,296. Finally, Bank of America Corp DE bought a new stake in 4D Molecular Therapeutics in the second quarter worth approximately $14,905,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

About 4D Molecular Therapeutics

4D Molecular Therapeutics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for serious diseases with significant unmet medical needs. The company uses its Therapeutic Vector Evolution platform to design adeno-associated virus (AAV) vectors intended to deliver genetic medicines to specific tissues and organs.

Its pipeline has focused primarily on ophthalmology and pulmonology. Key investigational programs have included 4D-150, an intravitreal gene therapy being developed for retinal diseases such as wet age-related macular degeneration and diabetic macular edema, and 4D-710, an inhaled gene therapy designed to address the underlying cause of cystic fibrosis in patients who cannot benefit from existing CFTR modulator treatments.