4D Molecular Therapeutics (NASDAQ:FDMT) Shares Down 14.4%

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) shares dropped 14.4% during mid-day trading on Thursday . The stock traded as low as $14.23 and last traded at $14.40. Approximately 217,242 shares were traded during trading, a decline of 75% from the average daily volume of 866,806 shares. The stock had previously closed at $16.82.

Analyst Ratings Changes

FDMT has been the subject of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Thursday. BMO Capital Markets dropped 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. 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. Leerink Partners restated an “outperform” rating and set a $36.00 price objective (down from $40.00) on shares of 4D Molecular Therapeutics in a research report on Thursday. Finally, Chardan Capital boosted their price objective on shares of 4D Molecular Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $45.25.

4D Molecular Therapeutics Stock Down 16.3 %

The stock has a market cap of $727.46 million, a P/E ratio of -5.77 and a beta of 2.80. The company’s 50 day moving average price is $16.67 and its 200-day moving average price is $22.77.

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

Insider Transactions at 4D Molecular Therapeutics

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FDMT. Allspring Global Investments Holdings LLC grew its stake 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 valued at $110,000 after buying an additional 3,026 shares during the period. Quest Partners LLC grew its stake 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 buying an additional 5,745 shares during the period. Entropy Technologies LP acquired a new stake in shares of 4D Molecular Therapeutics in the 1st quarter valued at about $239,000. China Universal Asset Management Co. Ltd. grew its stake in shares of 4D Molecular Therapeutics by 93.5% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,579 shares of the company’s stock valued at $305,000 after buying an additional 4,628 shares during the period. Finally, ProShare Advisors LLC acquired a new stake in shares of 4D Molecular Therapeutics in the 1st quarter valued at about $344,000. 99.27% of the stock is owned by institutional investors.

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.