Royal Bank of Canada Raises 4D Molecular Therapeutics (NASDAQ:FDMT) Price Target to $40.00

4D Molecular Therapeutics (NASDAQ:FDMT) had its price target increased by Royal Bank of Canada from $35.00 to $40.00 in a research report report published on Monday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other research analysts have also issued research reports about the stock. The Goldman Sachs Group reissued a buy rating and issued a $81.00 price objective on shares of 4D Molecular Therapeutics in a research note on Wednesday, February 7th. BMO Capital Markets lowered their price objective on shares of 4D Molecular Therapeutics from $70.00 to $63.00 and set an outperform rating for the company in a research note on Monday, April 1st. HC Wainwright reiterated a buy rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Friday, March 1st. Jefferies Financial Group lifted their price target on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the stock a buy rating in a research note on Monday, April 1st. Finally, Barclays initiated coverage on shares of 4D Molecular Therapeutics in a research note on Monday. They issued an overweight rating for the company. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $44.22.

4D Molecular Therapeutics Price Performance

Shares of FDMT stock opened at $25.30 on Monday. The firm has a market cap of $1.29 billion, a PE ratio of -9.51 and a beta of 2.87. The company has a 50-day moving average of $29.01 and a two-hundred day moving average of $20.09. 4D Molecular Therapeutics has a 1-year low of $9.44 and a 1-year high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its earnings results on Thursday, February 29th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.09). The company had revenue of ($0.02) million for the quarter, compared to analysts’ expectations of $4.67 million. 4D Molecular Therapeutics had a negative return on equity of 34.14% and a negative net margin of 436.30%. Sell-side analysts anticipate that 4D Molecular Therapeutics will post -3.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other 4D Molecular Therapeutics news, CEO David Kirn sold 92,001 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $27.13, for a total transaction of $2,495,987.13. Following the sale, the chief executive officer now owns 1,059,153 shares of the company’s stock, valued at $28,734,820.89. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Scott Bizily sold 6,244 shares of 4D Molecular Therapeutics stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $27.50, for a total value of $171,710.00. Following the transaction, the insider now directly owns 1,737 shares of the company’s stock, valued at approximately $47,767.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Kirn sold 92,001 shares of 4D Molecular Therapeutics stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $27.13, for a total transaction of $2,495,987.13. Following the completion of the transaction, the chief executive officer now directly owns 1,059,153 shares in the company, valued at $28,734,820.89. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,888 shares of company stock valued at $4,134,254. 10.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On 4D Molecular Therapeutics

A number of institutional investors have recently modified their holdings of FDMT. Wellington Management Group LLP grew its position in 4D Molecular Therapeutics by 4.5% in the 4th quarter. Wellington Management Group LLP now owns 180,475 shares of the company’s stock valued at $3,656,000 after buying an additional 7,753 shares during the last quarter. 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 during the last quarter. Price T Rowe Associates Inc. MD grew its position in 4D Molecular Therapeutics by 5.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 22,596 shares of the company’s stock valued at $458,000 after buying an additional 1,106 shares during the last quarter. Virtus ETF Advisers LLC grew its position in 4D Molecular Therapeutics by 24.4% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,574 shares of the company’s stock valued at $113,000 after buying an additional 1,095 shares during the last quarter. Finally, Barclays PLC grew its position in 4D Molecular Therapeutics by 47.0% in the 4th quarter. Barclays PLC now owns 108,709 shares of the company’s stock valued at $2,202,000 after buying an additional 34,774 shares during the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

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.