4D Molecular Therapeutics (NASDAQ:FDMT) Shares Gap Down to $11.90

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) gapped down prior to trading on Monday . The stock had previously closed at $11.90, but opened at $11.46. 4D Molecular Therapeutics shares last traded at $11.53, with a volume of 159,552 shares.

Wall Street Analysts Forecast Growth

FDMT has been the topic of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 target price on shares of 4D Molecular Therapeutics in a research note on Monday, July 22nd. Chardan Capital lifted 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 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 report on Thursday. BMO Capital Markets lowered their target price on shares of 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, July 18th. Finally, Leerink Partners reiterated an “outperform” rating and issued a $36.00 price objective (down from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.25.

4D Molecular Therapeutics Stock Performance

The company’s 50 day moving average price is $16.12 and its 200-day moving average price is $22.51. The company has a market cap of $591.48 million, a price-to-earnings ratio of -4.71 and a beta of 2.80.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted 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 company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $1.90 million. As a group, sell-side analysts forecast that 4D Molecular Therapeutics, Inc. will post -2.75 earnings per share for the current year.

Insider Activity

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 4,248 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $21.36, for a total transaction of $90,737.28. Following the completion of the sale, the insider now directly owns 1,737 shares of the company’s stock, valued at $37,102.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO David Kirn sold 12,923 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $22.49, for a total transaction of $290,638.27. Following the transaction, the chief executive officer now directly owns 1,059,153 shares of the company’s stock, valued at $23,820,350.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott Bizily sold 4,248 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $21.36, for a total value of $90,737.28. Following the completion of the sale, the insider now directly owns 1,737 shares of the company’s stock, valued at $37,102.32. The disclosure for this sale can be found here. Insiders sold a total of 21,417 shares of company stock valued at $486,883 over the last three months. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On 4D Molecular Therapeutics

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

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.