Cantor Fitzgerald Downgrades 4D Molecular Therapeutics (NASDAQ:FDMT) to Neutral

4D Molecular Therapeutics (NASDAQ:FDMT) was downgraded by analysts at Cantor Fitzgerald from an “overweight” rating to a “neutral” rating in a research note issued to investors on Monday, Marketbeat Ratings reports.

A number of other research analysts also recently issued reports on FDMT. BMO Capital Markets decreased their price target 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. HC Wainwright reiterated a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. Chardan Capital lifted their price target on shares of 4D Molecular Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Leerink Partners restated an “outperform” rating and set a $36.00 price objective (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $40.00 price objective on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $45.25.

4D Molecular Therapeutics Price Performance

Shares of FDMT opened at $11.49 on Monday. 4D Molecular Therapeutics has a 1-year low of $9.44 and a 1-year high of $36.25. The stock has a market cap of $594.07 million, a PE ratio of -4.75 and a beta of 2.80. The firm has a 50-day simple moving average of $15.81 and a two-hundred day simple moving average of $22.39.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.09. The business had revenue of $0.01 million during the quarter, compared to analyst estimates of $1.90 million. As a group, sell-side analysts expect 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 news, CEO David Kirn sold 12,923 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $22.49, for a total transaction of $290,638.27. Following the transaction, the chief executive officer now directly owns 1,059,153 shares of the company’s stock, valued at approximately $23,820,350.97. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO David Kirn sold 12,923 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $22.49, for a total transaction of $290,638.27. Following the transaction, the chief executive officer now directly owns 1,059,153 shares of the company’s stock, valued at approximately $23,820,350.97. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Scott Bizily sold 4,248 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $21.36, for a total transaction of $90,737.28. Following the completion of the sale, the insider now directly owns 1,737 shares in the company, valued at $37,102.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,417 shares of company stock valued at $486,883. 7.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its holdings in 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 purchasing an additional 658,069 shares in the last quarter. Sectoral Asset Management Inc. purchased a new position in 4D Molecular Therapeutics in the 4th quarter valued at about $2,887,000. Entropy Technologies LP purchased a new position in 4D Molecular Therapeutics in the 1st quarter valued at about $239,000. Kennedy Capital Management LLC purchased a new position in 4D Molecular Therapeutics in the 1st quarter valued at about $4,358,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in 4D Molecular Therapeutics by 702.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock valued at $110,000 after purchasing an additional 3,026 shares in the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

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.