4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Short Interest Update

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totalling 9,530,000 shares, a decrease of 7.8% from the July 15th total of 10,340,000 shares. Based on an average daily trading volume, of 874,700 shares, the days-to-cover ratio is presently 10.9 days.

Analyst Ratings Changes

FDMT has been the subject of several analyst reports. BMO Capital Markets decreased their price objective on shares of 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. Chardan Capital reissued a “buy” rating and set a $38.00 price target on shares of 4D Molecular Therapeutics in a research note on Wednesday, July 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. Finally, HC Wainwright reiterated a “buy” rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Friday, August 9th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $43.63.

4D Molecular Therapeutics Trading Up 4.1 %

Shares of FDMT stock opened at $15.32 on Wednesday. 4D Molecular Therapeutics has a twelve month low of $9.44 and a twelve month high of $36.25. The stock has a fifty day simple moving average of $19.50 and a two-hundred day simple moving average of $24.61. The stock has a market capitalization of $792.09 million, a price-to-earnings ratio of -6.28 and a beta of 2.83.

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. Research analysts predict that 4D Molecular Therapeutics will post -2.98 EPS for the current fiscal year.

Insider Activity

In related news, CEO David Kirn sold 12,930 shares of 4D Molecular Therapeutics stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $23.10, for a total value of $298,683.00. Following the completion of the transaction, the chief executive officer now owns 1,059,153 shares in the company, valued at $24,466,434.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Scott Bizily sold 1,996 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $25.00, for a total value of $49,900.00. Following the sale, the insider now owns 6,781 shares of the company’s stock, valued at $169,525. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Kirn sold 12,930 shares of the firm’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 of the company’s stock, valued at approximately $24,466,434.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,847 shares of company stock worth $777,401. 7.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Several hedge funds have recently modified their holdings of the business. Bfsg LLC bought a new stake in 4D Molecular Therapeutics during the fourth quarter valued at about $30,000. Allspring Global Investments Holdings LLC lifted its position in shares of 4D Molecular Therapeutics by 702.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock valued at $110,000 after buying an additional 3,026 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of 4D Molecular Therapeutics by 23.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,872 shares of the company’s stock valued at $119,000 after buying an additional 1,110 shares in the last quarter. Quest Partners LLC grew its position in shares of 4D Molecular Therapeutics by 17,409.1% in the 2nd quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock worth $121,000 after buying an additional 5,745 shares during the last quarter. Finally, Entropy Technologies LP bought a new position in shares of 4D Molecular Therapeutics during the 1st quarter worth approximately $239,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

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.