Profund Advisors LLC Decreases Stock Position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Profund Advisors LLC decreased its position in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 26.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,962 shares of the company’s stock after selling 6,484 shares during the period. Profund Advisors LLC’s holdings in 4D Molecular Therapeutics were worth $377,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FDMT. Allspring Global Investments Holdings LLC increased its holdings 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 worth $110,000 after buying an additional 3,026 shares during the last quarter. Quest Partners LLC grew its position in 4D Molecular Therapeutics by 17,409.1% in the second quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock worth $121,000 after acquiring an additional 5,745 shares in the last quarter. Entropy Technologies LP bought a new stake in 4D Molecular Therapeutics during the first quarter worth approximately $239,000. Hsbc Holdings PLC bought a new stake in 4D Molecular Therapeutics during the second quarter worth approximately $246,000. Finally, American Century Companies Inc. purchased a new stake in 4D Molecular Therapeutics during the second quarter valued at approximately $268,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald downgraded 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday. Leerink Partners reissued an “outperform” rating and issued a $36.00 target price (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. HC Wainwright restated a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 price target on shares of 4D Molecular Therapeutics in a report on Monday, July 22nd. Finally, Chardan Capital raised their price objective on shares of 4D Molecular Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $45.25.

Insider Buying and Selling at 4D Molecular Therapeutics

In other news, insider Scott Bizily sold 4,248 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $21.36, for a total value of $90,737.28. Following the completion of the transaction, the insider now directly owns 1,737 shares of the company’s stock, valued at approximately $37,102.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Scott Bizily sold 4,248 shares of the firm’s stock in a transaction dated 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 owns 1,737 shares of the company’s stock, valued at $37,102.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David Kirn sold 12,923 shares of the business’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 completion of the transaction, the chief executive officer now owns 1,059,153 shares of the company’s stock, valued at $23,820,350.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,417 shares of company stock valued at $486,883. 7.30% of the stock is currently owned by corporate insiders.

4D Molecular Therapeutics Price Performance

Shares of FDMT stock opened at $10.96 on Friday. The company’s 50-day simple moving average is $15.28 and its two-hundred day simple moving average is $22.11. 4D Molecular Therapeutics, Inc. has a one year low of $9.44 and a one year high of $36.25. The company has a market capitalization of $569.59 million, a P/E ratio of -4.49 and a beta of 2.80.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate 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, research analysts expect that 4D Molecular Therapeutics, Inc. will post -2.75 EPS for the current fiscal year.

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.