4D Molecular Therapeutics (NASDAQ:FDMT) Earns Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a report published on Thursday, Benzinga reports. HC Wainwright currently has a $36.00 target price on the stock.

Other equities research analysts have also issued reports about the company. BMO Capital Markets dropped their price target on 4D Molecular Therapeutics from $63.00 to $40.00 and set an outperform rating for the company in a research report on Thursday, July 18th. Chardan Capital reaffirmed a buy rating and issued a $38.00 target price on shares of 4D Molecular Therapeutics in a research note on Wednesday, July 17th. 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, Cantor Fitzgerald reissued an overweight rating on shares of 4D Molecular Therapeutics in a report on Monday, September 9th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, 4D Molecular Therapeutics currently has an average rating of Buy and a consensus price target of $45.25.

4D Molecular Therapeutics Price Performance

Shares of 4D Molecular Therapeutics stock opened at $11.90 on Thursday. The stock has a market capitalization of $615.27 million, a P/E ratio of -4.88 and a beta of 2.80. The business has a 50 day simple moving average of $16.12 and a two-hundred day simple moving average of $22.59. 4D Molecular Therapeutics has a 12 month low of $9.44 and a 12 month high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.63) EPS 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 analyst estimates of $1.90 million. As a group, research analysts anticipate that 4D Molecular Therapeutics will post -2.75 EPS for the current fiscal year.

Insider Transactions at 4D Molecular Therapeutics

In related news, insider Scott Bizily sold 1,750 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $27.11, for a total value of $47,442.50. Following the sale, the insider now owns 6,781 shares in the company, valued at approximately $183,832.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other 4D Molecular Therapeutics news, insider Scott Bizily sold 1,750 shares of 4D Molecular Therapeutics stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $27.11, for a total value of $47,442.50. Following the completion of the transaction, the insider now directly owns 6,781 shares of the company’s stock, valued at approximately $183,832.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David Kirn sold 12,930 shares of the 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 sale, the chief executive officer now directly owns 1,059,153 shares in the company, valued at approximately $24,466,434.30. The disclosure for this sale can be found here. Insiders sold a total of 34,347 shares of company stock worth $785,566 over the last ninety days. Company insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its stake in shares of 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 valued at $110,000 after acquiring an additional 3,026 shares in the last quarter. Quest Partners LLC raised its position in 4D Molecular Therapeutics by 17,409.1% in the 2nd quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock valued at $121,000 after purchasing an additional 5,745 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of 4D Molecular Therapeutics in the 1st quarter valued at about $239,000. China Universal Asset Management Co. Ltd. grew its position in shares of 4D Molecular Therapeutics by 93.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,579 shares of the company’s stock worth $305,000 after buying an additional 4,628 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new stake in shares of 4D Molecular Therapeutics during the first quarter worth approximately $344,000. 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.