4D Molecular Therapeutics (NASDAQ:FDMT) Trading Down 3.8% – Here’s Why

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)’s share price was down 3.8% on Friday . The company traded as low as $9.93 and last traded at $9.95. Approximately 156,803 shares traded hands during trading, a decline of 83% from the average daily volume of 908,276 shares. The stock had previously closed at $10.34.

Analysts Set New Price Targets

A number of research analysts have commented on FDMT shares. Cantor Fitzgerald cut 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 report on Monday, July 22nd. BMO Capital Markets lowered their price objective 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. HC Wainwright reiterated a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. Finally, Leerink Partners restated an “outperform” rating and issued a $36.00 target price (down from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $45.25.

4D Molecular Therapeutics Stock Down 5.1 %

The firm has a market cap of $507.21 million, a P/E ratio of -4.24 and a beta of 2.77. The business’s 50 day moving average is $14.62 and its 200-day moving average is $21.45.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its earnings results on Thursday, August 8th. The company reported ($0.63) earnings per share for the quarter, topping 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, equities analysts predict that 4D Molecular Therapeutics, Inc. will post -2.75 earnings per share for the current year.

Insider Buying and Selling at 4D Molecular Therapeutics

In related news, insider Scott Bizily sold 1,750 shares of the company’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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Scott Bizily sold 1,750 shares of the business’s stock in a transaction dated 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Kirn sold 12,923 shares of the 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 in the company, valued at approximately $23,820,350.97. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,169 shares of company stock worth $396,146 over the last quarter. 7.30% of the stock is owned by corporate insiders.

Institutional Trading of 4D Molecular Therapeutics

Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in 4D Molecular Therapeutics by 415.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock valued at $16,539,000 after buying an additional 658,069 shares in the last quarter. Sectoral Asset Management Inc. acquired a new position in shares of 4D Molecular Therapeutics during the fourth quarter valued at approximately $2,887,000. Entropy Technologies LP acquired a new position in shares of 4D Molecular Therapeutics during the first quarter valued at approximately $239,000. Kennedy Capital Management LLC bought a new stake in 4D Molecular Therapeutics during the first quarter worth approximately $4,358,000. Finally, Sofinnova Investments Inc. lifted its position in 4D Molecular Therapeutics by 36.8% in the second quarter. Sofinnova Investments Inc. now owns 271,155 shares of the company’s stock worth $5,692,000 after purchasing an additional 72,969 shares during the period. 99.27% of the stock is currently 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.