4D Molecular Therapeutics (NASDAQ:FDMT) Given New $39.00 Price Target at Chardan Capital

4D Molecular Therapeutics (NASDAQ:FDMT) had its price target boosted by Chardan Capital from $38.00 to $39.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Chardan Capital’s price target indicates a potential upside of 191.70% from the stock’s previous close.

Several other research firms have also recently weighed in on FDMT. Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 target price on shares of 4D Molecular Therapeutics in a research note on Monday, July 22nd. BMO Capital Markets reduced 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 note on Thursday, July 18th. Leerink Partners reiterated an “outperform” rating and issued a $36.00 target price (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday. HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research note on Thursday. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of 4D Molecular Therapeutics in a research note on Monday, September 9th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, 4D Molecular Therapeutics currently has an average rating of “Buy” and an average price target of $45.25.

4D Molecular Therapeutics Stock Down 20.5 %

FDMT stock traded down $3.45 during mid-day trading on Thursday, reaching $13.37. 1,462,911 shares of the stock traded hands, compared to its average volume of 873,688. 4D Molecular Therapeutics has a 52 week low of $9.44 and a 52 week high of $36.25. The business has a 50-day moving average of $16.67 and a two-hundred day moving average of $22.77. The firm has a market capitalization of $691.27 million, a PE ratio of -5.48 and a beta of 2.80.

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

Insider Buying and Selling

In other news, insider Scott Bizily sold 1,750 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $27.11, for a total transaction of $47,442.50. Following the completion of the sale, the insider now owns 6,781 shares of the company’s stock, valued at $183,832.91. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO David Kirn sold 12,930 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $23.10, for a total transaction of $298,683.00. Following the completion of the sale, the chief executive officer now owns 1,059,153 shares of the company’s stock, valued at $24,466,434.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Scott Bizily sold 1,750 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $27.11, for a total transaction of $47,442.50. Following the sale, the insider now directly owns 6,781 shares of the company’s stock, valued at approximately $183,832.91. The disclosure for this sale can be found here. Insiders sold 34,347 shares of company stock valued at $785,566 over the last quarter. Corporate insiders own 7.30% of the company’s stock.

Institutional Trading of 4D Molecular Therapeutics

Several hedge funds have recently modified their holdings of the stock. Algert Global LLC grew its stake in shares of 4D Molecular Therapeutics by 20.6% during the second quarter. Algert Global LLC now owns 16,588 shares of the company’s stock valued at $348,000 after purchasing an additional 2,828 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of 4D Molecular Therapeutics by 25.5% during the second quarter. The Manufacturers Life Insurance Company now owns 18,975 shares of the company’s stock valued at $398,000 after purchasing an additional 3,850 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of 4D Molecular Therapeutics by 652.7% during the second quarter. Squarepoint Ops LLC now owns 110,041 shares of the company’s stock valued at $2,310,000 after purchasing an additional 95,422 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of 4D Molecular Therapeutics during the second quarter valued at approximately $246,000. Finally, Sofinnova Investments Inc. grew its stake in shares of 4D Molecular Therapeutics by 36.8% during the second quarter. Sofinnova Investments Inc. now owns 271,155 shares of the company’s stock valued at $5,692,000 after purchasing an additional 72,969 shares during the last quarter. 99.27% of the stock is owned by institutional investors.

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.