4D Molecular Therapeutics’ (FDMT) “Buy” Rating Reiterated at HC Wainwright

4D Molecular Therapeutics (NASDAQ:FDMT)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research report issued on Thursday, Benzinga reports. They currently have a $36.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 114.03% from the company’s current price.

A number of other equities analysts have also weighed in on FDMT. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 price objective on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. Chardan Capital reiterated a “buy” rating and issued a $38.00 price target on shares of 4D Molecular Therapeutics in a report on Wednesday, July 17th. Cantor Fitzgerald restated an “overweight” rating on shares of 4D Molecular Therapeutics in a report on Monday, September 9th. Finally, BMO Capital Markets dropped their target price on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, July 18th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $43.63.

4D Molecular Therapeutics Trading Up 4.1 %

Shares of FDMT opened at $16.82 on Thursday. The company has a 50-day moving average of $16.67 and a two-hundred day moving average of $22.77. The stock has a market cap of $869.64 million, a P/E ratio of -6.89 and a beta of 2.80. 4D Molecular Therapeutics has a 12-month low of $9.44 and a 12-month high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its earnings results on Thursday, August 8th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.09. The company had revenue of $0.01 million for the quarter, compared to analyst estimates of $1.90 million. As a group, analysts forecast that 4D Molecular Therapeutics will post -2.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, 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 approximately $24,466,434.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO David Kirn sold 12,930 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $23.10, for a total value of $298,683.00. Following the transaction, the chief executive officer now owns 1,059,153 shares of the company’s stock, valued at approximately $24,466,434.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Scott Bizily sold 4,248 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $21.36, for a total transaction of $90,737.28. Following 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 34,347 shares of company stock worth $785,566 over the last three months. 7.30% of the stock is owned by insiders.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Several hedge funds have recently modified their holdings of FDMT. Charles Schwab Investment Management Inc. raised its stake in shares of 4D Molecular Therapeutics by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 268,638 shares of the company’s stock valued at $5,443,000 after purchasing an additional 10,130 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in 4D Molecular Therapeutics by 29.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 19,835 shares of the company’s stock worth $400,000 after buying an additional 4,557 shares in the last quarter. Franklin Resources Inc. boosted its position in 4D Molecular Therapeutics by 266.0% in the 4th quarter. Franklin Resources Inc. now owns 52,564 shares of the company’s stock valued at $1,065,000 after buying an additional 38,202 shares during the last quarter. Sectoral Asset Management Inc. acquired a new stake in shares of 4D Molecular Therapeutics during the fourth quarter valued at about $2,887,000. Finally, Goldman Sachs Group Inc. increased its position in shares of 4D Molecular Therapeutics by 415.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock worth $16,539,000 after acquiring an additional 658,069 shares during the last quarter. 99.27% of the stock is currently 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.