4D Molecular Therapeutics (NASDAQ:FDMT) Trading Down 4.5% Following Insider Selling

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)’s stock price dropped 4.5% during trading on Wednesday following insider selling activity. The stock traded as low as $20.83 and last traded at $21.01. Approximately 168,433 shares traded hands during trading, a decline of 80% from the average daily volume of 857,713 shares. The stock had previously closed at $22.00.

Specifically, CEO David Kirn sold 12,930 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $23.10, for a total value of $298,683.00. Following the transaction, the chief executive officer now owns 1,059,153 shares in the company, valued at $24,466,434.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Scott Bizily sold 1,750 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $25.45, for a total transaction of $44,537.50. Following the completion of the sale, the insider now directly owns 1,737 shares of the company’s stock, valued at approximately $44,206.65. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Kirn sold 12,930 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $23.10, for a total transaction of $298,683.00. Following the transaction, the chief executive officer now directly owns 1,059,153 shares of the company’s stock, valued at approximately $24,466,434.30. The disclosure for this sale can be found here. Insiders sold a total of 24,583 shares of company stock worth $647,368 in the last quarter. 7.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Jefferies Financial Group upped their target price on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Barclays began coverage on shares of 4D Molecular Therapeutics in a research note on Monday, April 15th. They set an “overweight” rating on the stock. BMO Capital Markets reduced 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. HC Wainwright reiterated a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Friday, June 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 target price on shares of 4D Molecular Therapeutics in a report on Wednesday. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $45.63.

4D Molecular Therapeutics Stock Performance

The business has a 50-day moving average price of $24.51 and a two-hundred day moving average price of $24.61.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.07. The business had revenue of $0.03 million during the quarter, compared to the consensus estimate of $1.44 million. 4D Molecular Therapeutics had a negative net margin of 436.30% and a negative return on equity of 26.75%. On average, research analysts forecast that 4D Molecular Therapeutics, Inc. will post -2.98 EPS for the current year.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of FDMT. Sectoral Asset Management Inc. acquired a new position in 4D Molecular Therapeutics during the fourth quarter valued at approximately $2,887,000. Trexquant Investment LP acquired a new position in 4D Molecular Therapeutics in the 3rd quarter valued at $566,000. Wellington Management Group LLP raised its stake in 4D Molecular Therapeutics by 2.2% in the third quarter. Wellington Management Group LLP now owns 172,722 shares of the company’s stock valued at $2,199,000 after purchasing an additional 3,638 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in 4D Molecular Therapeutics by 359.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,951 shares of the company’s stock worth $100,000 after purchasing an additional 3,873 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in 4D Molecular Therapeutics by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 268,638 shares of the company’s stock worth $5,443,000 after buying an additional 10,130 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

4D Molecular Therapeutics Company Profile

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.