Brokerages Set 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) PT at $44.22

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) have been given an average rating of “Buy” by the ten research firms that are presently covering the firm, MarketBeat.com reports. Ten investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $44.22.

FDMT has been the subject of a number of research analyst reports. BMO Capital Markets cut 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 report 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. Barclays assumed coverage on shares of 4D Molecular Therapeutics in a report on Monday, April 15th. They set an “overweight” rating for the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $81.00 target price on shares of 4D Molecular Therapeutics in a research report on Wednesday, February 7th. Finally, Royal Bank of Canada raised their price target on 4D Molecular Therapeutics from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, April 15th.

4D Molecular Therapeutics Price Performance

Shares of NASDAQ:FDMT opened at $23.93 on Friday. The company has a market capitalization of $1.22 billion, a PE ratio of -9.00 and a beta of 2.87. 4D Molecular Therapeutics has a 1-year low of $9.44 and a 1-year high of $36.25. The business has a fifty day moving average price of $28.47 and a 200-day moving average price of $20.97.

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

Insiders Place Their Bets

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 1,750 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $25.74, for a total value of $45,045.00. Following the completion of the sale, the insider now directly owns 1,737 shares in the company, valued at approximately $44,710.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other 4D Molecular Therapeutics news, insider Robert Young Kim sold 24,552 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $30.05, for a total transaction of $737,787.60. Following the completion of the sale, the insider now owns 1,043 shares in the company, valued at $31,342.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Scott Bizily sold 1,750 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $25.74, for a total value of $45,045.00. Following the sale, the insider now directly owns 1,737 shares in the company, valued at approximately $44,710.38. The disclosure for this sale can be found here. Insiders have sold 143,942 shares of company stock worth $4,074,435 in the last three months. Corporate insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Hedge funds have recently made changes to their positions in the stock. Bfsg LLC purchased a new stake in shares of 4D Molecular Therapeutics during the fourth quarter valued at about $30,000. China Universal Asset Management Co. Ltd. boosted its stake in 4D Molecular Therapeutics by 359.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,951 shares of the company’s stock valued at $100,000 after acquiring an additional 3,873 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in 4D Molecular Therapeutics by 702.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock worth $110,000 after purchasing an additional 3,026 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of 4D Molecular Therapeutics by 23.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 5,872 shares of the company’s stock worth $119,000 after purchasing an additional 1,110 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of 4D Molecular Therapeutics during the 3rd quarter valued at $141,000. 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.