Marshall Wace LLP Sells 71,880 Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Marshall Wace LLP lowered its stake in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 27.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 185,866 shares of the company’s stock after selling 71,880 shares during the quarter. Marshall Wace LLP owned approximately 0.36% of 4D Molecular Therapeutics worth $3,901,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its position in shares of 4D Molecular Therapeutics by 266.0% during the fourth quarter. Franklin Resources Inc. now owns 52,564 shares of the company’s stock worth $1,065,000 after purchasing an additional 38,202 shares in the last quarter. Sectoral Asset Management Inc. acquired a new position in 4D Molecular Therapeutics during the 4th quarter worth $2,887,000. Goldman Sachs Group Inc. lifted its holdings in 4D Molecular Therapeutics by 415.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock worth $16,539,000 after buying an additional 658,069 shares in the last quarter. Wellington Management Group LLP boosted its position in 4D Molecular Therapeutics by 4.5% in the 4th quarter. Wellington Management Group LLP now owns 180,475 shares of the company’s stock valued at $3,656,000 after buying an additional 7,753 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased 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. Institutional investors own 99.27% of the company’s stock.

Insiders Place Their Bets

In other news, CEO David Kirn sold 12,923 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $22.49, for a total transaction of $290,638.27. Following the sale, the chief executive officer now 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 SEC, which is available at the SEC website. In other 4D Molecular Therapeutics news, insider Scott Bizily sold 1,750 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $27.11, for a total transaction of $47,442.50. Following the completion of the transaction, the insider now owns 6,781 shares in the company, valued at approximately $183,832.91. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David Kirn sold 12,923 shares of 4D Molecular Therapeutics stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $22.49, for a total value of $290,638.27. Following the completion of the sale, the chief executive officer now directly owns 1,059,153 shares in the company, valued at approximately $23,820,350.97. The disclosure for this sale can be found here. Insiders sold 17,169 shares of company stock worth $396,146 over the last ninety days. 7.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BMO Capital Markets decreased their price target on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, July 18th. Cantor Fitzgerald lowered shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, September 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $40.00 price target on shares of 4D Molecular Therapeutics in a research note on Monday, July 22nd. Chardan Capital increased their price objective on shares of 4D Molecular Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Leerink Partners reaffirmed an “outperform” rating and set a $36.00 target price (down previously from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $45.25.

4D Molecular Therapeutics Stock Performance

Shares of NASDAQ:FDMT opened at $10.27 on Thursday. The company has a 50 day moving average price of $14.78 and a two-hundred day moving average price of $21.53. The company has a market capitalization of $530.99 million, a PE ratio of -4.21 and a beta of 2.80. 4D Molecular Therapeutics, Inc. has a 52 week low of $9.44 and a 52 week high of $36.25.

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

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.