Leerink Partnrs Has Pessimistic View of FDMT FY2024 Earnings

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) – Analysts at Leerink Partnrs lowered their FY2024 earnings per share estimates for 4D Molecular Therapeutics in a research report issued to clients and investors on Wednesday, November 13th. Leerink Partnrs analyst M. Foroohar now expects that the company will post earnings per share of ($2.95) for the year, down from their previous estimate of ($2.84). The consensus estimate for 4D Molecular Therapeutics’ current full-year earnings is ($2.81) per share. Leerink Partnrs also issued estimates for 4D Molecular Therapeutics’ Q4 2024 earnings at ($0.86) EPS and FY2025 earnings at ($3.76) EPS.

FDMT has been the subject of a number of other research reports. HC Wainwright reiterated a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Thursday, November 14th. Chardan Capital reiterated a “buy” rating and issued a $39.00 price target on shares of 4D Molecular Therapeutics in a research report on Thursday, November 14th. Cantor Fitzgerald downgraded shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, September 23rd. Leerink Partners reaffirmed an “outperform” rating and issued a $36.00 target price (down from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. Finally, Royal Bank of Canada decreased their target price on shares of 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.00.

4D Molecular Therapeutics Stock Down 5.8 %

Shares of NASDAQ FDMT opened at $8.32 on Monday. The business has a 50-day moving average price of $10.17 and a 200 day moving average price of $16.90. The stock has a market cap of $384.63 million, a PE ratio of -2.92 and a beta of 2.82. 4D Molecular Therapeutics has a 52-week low of $7.32 and a 52-week high of $36.25.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. RA Capital Management L.P. lifted its holdings in shares of 4D Molecular Therapeutics by 21.3% in the 1st quarter. RA Capital Management L.P. now owns 5,051,511 shares of the company’s stock valued at $160,941,000 after buying an additional 888,300 shares during the period. Janus Henderson Group PLC increased its holdings in 4D Molecular Therapeutics by 3.4% during the 1st quarter. Janus Henderson Group PLC now owns 3,197,444 shares of the company’s stock valued at $101,844,000 after acquiring an additional 104,148 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of 4D Molecular Therapeutics by 25.3% during the 1st quarter. Vanguard Group Inc. now owns 2,339,943 shares of the company’s stock worth $74,551,000 after purchasing an additional 473,094 shares in the last quarter. State Street Corp increased its stake in shares of 4D Molecular Therapeutics by 1.8% during the 3rd quarter. State Street Corp now owns 2,116,508 shares of the company’s stock worth $22,879,000 after purchasing an additional 37,232 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of 4D Molecular Therapeutics by 238.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,543,414 shares of the company’s stock worth $16,684,000 after purchasing an additional 1,087,147 shares during the last quarter. 99.27% of the stock is owned by hedge funds and other 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.