4D Molecular Therapeutics (NASDAQ:FDMT) Earns Outperform Rating from Leerink Partners

4D Molecular Therapeutics (NASDAQ:FDMT)‘s stock had its “outperform” rating reiterated by research analysts at Leerink Partners in a note issued to investors on Thursday, Benzinga reports. They presently have a $36.00 price objective on the stock, down from their prior price objective of $40.00. Leerink Partners’ price target suggests a potential upside of 114.03% from the stock’s current price.

FDMT has been the subject of several other research reports. BMO Capital Markets decreased their target price on shares of 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, July 18th. Chardan Capital reissued a “buy” rating and issued a $38.00 price objective on shares of 4D Molecular Therapeutics in a report on Wednesday, July 17th. HC Wainwright restated a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 price target on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of 4D Molecular Therapeutics in a research note on Monday, September 9th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $45.13.

4D Molecular Therapeutics Price Performance

Shares of FDMT opened at $16.82 on Thursday. 4D Molecular Therapeutics has a 12 month low of $9.44 and a 12 month high of $36.25. The stock has a fifty day moving average price of $16.67 and a 200 day moving average price of $22.77. The company has a market cap of $869.64 million, a P/E ratio of -6.89 and a beta of 2.80.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.09. The firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $1.90 million. As a group, research analysts anticipate that 4D Molecular Therapeutics will post -2.75 earnings per share for the current year.

Insider Activity

In other news, CEO David Kirn sold 12,930 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $23.10, for a total value of $298,683.00. Following the completion of the sale, 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 legal filing with the SEC, which is available at this link. In related news, insider Scott Bizily sold 1,996 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $25.00, for a total transaction of $49,900.00. Following the completion of the sale, the insider now directly owns 6,781 shares in the company, valued at $169,525. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Kirn sold 12,930 shares of 4D Molecular Therapeutics stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 1,059,153 shares in the company, valued at approximately $24,466,434.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,347 shares of company stock worth $785,566. 7.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its holdings in shares of 4D Molecular Therapeutics by 702.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock worth $110,000 after acquiring an additional 3,026 shares during the last quarter. Quest Partners LLC boosted its position in shares of 4D Molecular Therapeutics by 17,409.1% in the 2nd quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock valued at $121,000 after purchasing an additional 5,745 shares during the period. Entropy Technologies LP purchased a new position in 4D Molecular Therapeutics in the 1st quarter worth about $239,000. Hsbc Holdings PLC purchased a new position in 4D Molecular Therapeutics in the 2nd quarter worth about $246,000. Finally, American Century Companies Inc. acquired a new stake in 4D Molecular Therapeutics during the 2nd quarter worth about $268,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

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.