Brokerages Set 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) PT at $45.63

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) have been given a consensus rating of “Buy” by the ten analysts that are currently covering the firm, Marketbeat Ratings reports. Ten research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $45.63.

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Barclays initiated coverage on shares of 4D Molecular Therapeutics in a report on Monday, April 15th. They issued an “overweight” rating for the company. BMO Capital Markets dropped 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 price objective on shares of 4D Molecular Therapeutics in a report on Wednesday, June 26th. Finally, HC Wainwright reiterated a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a report on Friday, June 7th.

Insiders Place Their Bets

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 1,996 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $25.00, for a total transaction of $49,900.00. Following the completion of the transaction, the insider now owns 6,781 shares in the company, valued at approximately $169,525. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other 4D Molecular Therapeutics news, insider Scott Bizily sold 1,996 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $25.00, for a total transaction of $49,900.00. Following the completion of the transaction, the insider now owns 6,781 shares in the company, valued at approximately $169,525. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Kirn sold 12,930 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $23.10, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 33,847 shares of company stock worth $774,496. 7.30% of the stock is currently owned by insiders.

Institutional Trading of 4D Molecular Therapeutics

Hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its stake in shares of 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 acquiring an additional 658,069 shares in the last quarter. Sectoral Asset Management Inc. bought a new stake in shares of 4D Molecular Therapeutics in the 4th quarter valued at $2,887,000. Wellington Management Group LLP increased its stake in shares of 4D Molecular Therapeutics by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 172,722 shares of the company’s stock valued at $2,199,000 after acquiring an additional 3,638 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in 4D Molecular Therapeutics by 359.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,951 shares of the company’s stock valued at $100,000 after purchasing an additional 3,873 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in 4D Molecular Therapeutics by 3.9% in the 4th 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. Institutional investors own 99.27% of the company’s stock.

4D Molecular Therapeutics Trading Down 0.7 %

FDMT opened at $26.75 on Wednesday. The company’s 50 day moving average is $23.96 and its 200-day moving average is $25.08. 4D Molecular Therapeutics has a 1-year low of $9.44 and a 1-year high of $36.25. The company has a market cap of $1.38 billion, a P/E ratio of -10.96 and a beta of 2.84.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.66) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.07. The company had revenue of $0.03 million during the quarter, compared to analyst estimates of $1.44 million. On average, equities analysts forecast that 4D Molecular Therapeutics will post -2.98 EPS for the current 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.