Chardan Capital Boosts 4D Molecular Therapeutics (NASDAQ:FDMT) Price Target to $39.00

4D Molecular Therapeutics (NASDAQ:FDMT) had its price target hoisted by Chardan Capital from $38.00 to $39.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also commented on the company. Cantor Fitzgerald restated an overweight rating on shares of 4D Molecular Therapeutics in a research note on Monday, September 9th. HC Wainwright restated a buy rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research note on Thursday. BMO Capital Markets cut their target price on 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. Leerink Partners restated an outperform rating and issued a $36.00 target price (down from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday. Finally, Royal Bank of Canada restated an outperform rating and issued a $40.00 target price on shares of 4D Molecular Therapeutics in a research note on Monday, July 22nd. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $45.25.

4D Molecular Therapeutics Stock Performance

NASDAQ FDMT opened at $11.90 on Thursday. 4D Molecular Therapeutics has a twelve month low of $9.44 and a twelve month high of $36.25. The stock has a market cap of $615.27 million, a PE ratio of -4.88 and a beta of 2.80. The firm has a 50-day simple moving average of $16.12 and a 200 day simple moving average of $22.55.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.09. The firm had revenue of $0.01 million for the quarter, compared to the consensus estimate of $1.90 million. Research analysts forecast that 4D Molecular Therapeutics will post -2.75 earnings per share for the current fiscal year.

Insider Buying and Selling at 4D Molecular Therapeutics

In other 4D Molecular Therapeutics news, CEO David Kirn sold 12,923 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $22.49, for a total value of $290,638.27. Following the sale, the chief executive officer now directly owns 1,059,153 shares in the company, valued at $23,820,350.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Scott Bizily sold 1,996 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $25.00, for a total transaction of $49,900.00. Following the sale, the insider now owns 6,781 shares in the company, valued at $169,525. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Kirn sold 12,923 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $22.49, for a total value of $290,638.27. Following the sale, the chief executive officer now owns 1,059,153 shares in the company, valued at approximately $23,820,350.97. The disclosure for this sale can be found here. Insiders have sold 21,417 shares of company stock worth $486,883 over the last three months. Company insiders own 7.30% of the company’s stock.

Institutional Trading of 4D Molecular Therapeutics

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its holdings 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 worth $110,000 after purchasing an additional 3,026 shares during the last quarter. Quest Partners LLC boosted its holdings in 4D Molecular Therapeutics by 17,409.1% in the second quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock valued at $121,000 after acquiring an additional 5,745 shares during the last quarter. Entropy Technologies LP bought a new position in 4D Molecular Therapeutics in the first quarter valued at about $239,000. China Universal Asset Management Co. Ltd. boosted its holdings in 4D Molecular Therapeutics by 93.5% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,579 shares of the company’s stock valued at $305,000 after acquiring an additional 4,628 shares during the last quarter. Finally, ProShare Advisors LLC bought a new position in 4D Molecular Therapeutics in the first quarter valued at about $344,000. 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.