Goldman Sachs Group Inc. Grows Stake in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Goldman Sachs Group Inc. raised its stake in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 415.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 816,343 shares of the company’s stock after purchasing an additional 658,069 shares during the period. Goldman Sachs Group Inc. owned 1.91% of 4D Molecular Therapeutics worth $16,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of FDMT. RA Capital Management L.P. raised its holdings in 4D Molecular Therapeutics by 35.6% during the 3rd quarter. RA Capital Management L.P. now owns 4,163,211 shares of the company’s stock valued at $52,998,000 after buying an additional 1,093,680 shares during the period. Vontobel Holding Ltd. bought a new stake in shares of 4D Molecular Therapeutics in the 4th quarter worth about $2,887,000. Sectoral Asset Management Inc. purchased a new position in shares of 4D Molecular Therapeutics during the 4th quarter worth about $2,887,000. DekaBank Deutsche Girozentrale bought a new position in 4D Molecular Therapeutics during the 4th quarter valued at about $966,000. Finally, Trexquant Investment LP purchased a new stake in 4D Molecular Therapeutics in the 3rd quarter worth about $566,000. 99.27% of the stock is owned by institutional investors.

Insider Activity at 4D Molecular Therapeutics

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 1,750 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $25.74, for a total value of $45,045.00. Following the completion of the transaction, the insider now directly owns 1,737 shares in the company, valued at $44,710.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 4D Molecular Therapeutics news, insider Scott Bizily sold 1,750 shares of 4D Molecular Therapeutics stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $25.74, for a total value of $45,045.00. Following the transaction, the insider now directly owns 1,737 shares of the company’s stock, valued at $44,710.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Kirn sold 12,930 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $23.10, for a total value of $298,683.00. Following the sale, the chief executive officer now 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 have sold a total of 24,583 shares of company stock valued at $647,368 over the last quarter. 7.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FDMT shares. Barclays initiated coverage on 4D Molecular Therapeutics in a research note on Monday, April 15th. They set an “overweight” rating on the stock. HC Wainwright reiterated a “buy” rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Friday, June 7th. BMO Capital Markets lowered their target price on shares of 4D Molecular Therapeutics from $70.00 to $63.00 and set an “outperform” rating for the company in a research note on Monday, April 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 price objective on shares of 4D Molecular Therapeutics in a report on Wednesday. Finally, Jefferies Financial Group upped their target price on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $45.63.

4D Molecular Therapeutics Stock Performance

Shares of FDMT opened at $20.93 on Friday. The company has a 50 day moving average price of $24.51 and a 200-day moving average price of $24.61. 4D Molecular Therapeutics, Inc. has a fifty-two week low of $9.44 and a fifty-two week high of $36.25. The stock has a market capitalization of $1.08 billion, a PE ratio of -8.58 and a beta of 2.89.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its 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. 4D Molecular Therapeutics had a negative return on equity of 26.75% and a negative net margin of 436.30%. The company had revenue of $0.03 million during the quarter, compared to analyst estimates of $1.44 million. Equities research analysts forecast that 4D Molecular Therapeutics, Inc. will post -2.98 EPS for the current year.

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.