4D Molecular Therapeutics (NASDAQ:FDMT) Shares Down 7% – What’s Next?

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) dropped 7% during mid-day trading on Friday. The company traded as low as $10.68 and last traded at $11.0150. 119,544 shares were traded during mid-day trading, a decline of 86% from the average session volume of 858,873 shares. The stock had previously closed at $11.85.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on FDMT shares. Cantor Fitzgerald raised 4D Molecular Therapeutics from a “neutral” rating to an “overweight” rating and set a $20.00 target price on the stock in a research report on Monday, September 14th. The Goldman Sachs Group restated a “buy” rating and issued a $32.00 price objective on shares of 4D Molecular Therapeutics in a research note on Thursday, August 13th. B. Riley Financial reiterated a “buy” rating on shares of 4D Molecular Therapeutics in a research note on Monday, August 17th. Citigroup reissued a “buy” rating on shares of 4D Molecular Therapeutics in a report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research note on Thursday, October 15th. Eleven 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, the company has a consensus rating of “Moderate Buy” and an average price target of $28.90.

4D Molecular Therapeutics Price Performance

The company has a market capitalization of $608.52 million, a P/E ratio of -4.20 and a beta of 2.75. The company’s 50-day moving average price is $14.07 and its two-hundred day moving average price is $11.61. The company has a debt-to-equity ratio of 0.05, a current ratio of 8.03 and a quick ratio of 8.03.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its quarterly earnings data 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 firm had revenue of $3.78 million during the quarter, compared to the consensus estimate of $3.62 million. 4D Molecular Therapeutics had a negative net margin of 194.74% and a negative return on equity of 41.33%. As a group, sell-side analysts expect that 4D Molecular Therapeutics, Inc. will post -4.14 EPS for the current year.

Insider Activity at 4D Molecular Therapeutics

In other 4D Molecular Therapeutics news, insider David Kirn sold 58,333 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $12.92, for a total value 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. The trade was a 7.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders sold 136,205 shares of company stock worth $1,780,316. 7.90% of the stock is owned by corporate insiders.

Institutional Trading of 4D Molecular Therapeutics

Several institutional investors have recently made changes to their positions in the company. Jupiter Topco LLC purchased a new position in shares of 4D Molecular Therapeutics in the second quarter valued at $76,466,000. BlackRock Inc. bought a new stake in shares of 4D Molecular Therapeutics during the second quarter valued at approximately $60,463,000. Janus Henderson Group PLC raised its stake in 4D Molecular Therapeutics by 13.2% during the first quarter. Janus Henderson Group PLC now owns 5,247,151 shares of the company’s stock valued at $48,868,000 after buying an additional 611,276 shares during the last quarter. Trails Edge Capital Partners LP bought a new position in 4D Molecular Therapeutics in the 2nd quarter valued at approximately $29,631,296. Finally, Bank of America Corp DE purchased a new position in shares of 4D Molecular Therapeutics in the 2nd quarter worth $14,905,000. 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 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.