4D Molecular Therapeutics (NASDAQ:FDMT) Trading 4.2% Higher

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)’s stock price was up 4.2% on Wednesday . The stock traded as high as $16.84 and last traded at $16.84. Approximately 43,602 shares were traded during trading, a decline of 95% from the average daily volume of 861,982 shares. The stock had previously closed at $16.16.

Analysts Set New Price Targets

Several analysts have recently weighed in on FDMT shares. BMO Capital Markets reduced 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. Chardan Capital reaffirmed a “buy” rating and issued a $38.00 target price on shares of 4D Molecular Therapeutics in a report on Wednesday, July 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 target price on shares of 4D Molecular Therapeutics in a report on Monday, July 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of 4D Molecular Therapeutics in a report on Monday, September 9th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Friday, August 9th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, 4D Molecular Therapeutics currently has an average rating of “Buy” and a consensus price target of $43.63.

4D Molecular Therapeutics Stock Performance

The company has a market capitalization of $852.58 million, a PE ratio of -6.62 and a beta of 2.80. The firm’s 50-day simple moving average is $16.80 and its 200 day simple moving average is $22.81.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its earnings results on Thursday, August 8th. The company reported ($0.63) 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 analysts’ expectations of $1.90 million. As a group, equities analysts anticipate that 4D Molecular Therapeutics, Inc. will post -2.75 earnings per share for the current year.

Insiders Place Their Bets

In other 4D Molecular Therapeutics news, CEO David Kirn sold 12,930 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $23.10, for a total transaction of $298,683.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Scott Bizily sold 4,248 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $21.36, for a total value of $90,737.28. Following the sale, the insider now directly owns 1,737 shares in the company, valued at approximately $37,102.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David Kirn sold 12,930 shares of the business’s 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 owns 1,059,153 shares in the company, valued at $24,466,434.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,847 shares of company stock worth $777,401. Corporate insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Algert Global LLC lifted its holdings in 4D Molecular Therapeutics by 20.6% in the 2nd quarter. Algert Global LLC now owns 16,588 shares of the company’s stock valued at $348,000 after purchasing an additional 2,828 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in 4D Molecular Therapeutics by 25.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,975 shares of the company’s stock valued at $398,000 after purchasing an additional 3,850 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in 4D Molecular Therapeutics by 652.7% in the 2nd quarter. Squarepoint Ops LLC now owns 110,041 shares of the company’s stock valued at $2,310,000 after purchasing an additional 95,422 shares in the last quarter. Hsbc Holdings PLC purchased a new position in 4D Molecular Therapeutics in the 2nd quarter valued at about $246,000. Finally, Sofinnova Investments Inc. lifted its holdings in 4D Molecular Therapeutics by 36.8% in the 2nd quarter. Sofinnova Investments Inc. now owns 271,155 shares of the company’s stock valued at $5,692,000 after purchasing an additional 72,969 shares in the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

About 4D Molecular Therapeutics

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.