4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price Up 3.1%

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) rose 3.1% on Monday . The stock traded as high as $24.47 and last traded at $24.36. Approximately 34,051 shares traded hands during trading, a decline of 96% from the average daily volume of 864,975 shares. The stock had previously closed at $23.63.

Analyst Upgrades and Downgrades

FDMT has been the topic of several research analyst reports. BMO Capital Markets dropped their target price on 4D Molecular Therapeutics from $70.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, April 1st. HC Wainwright reiterated a “buy” rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Friday, June 7th. Barclays assumed coverage on 4D Molecular Therapeutics in a research note on Monday, April 15th. They set an “overweight” rating on the stock. Royal Bank of Canada boosted their price target on 4D Molecular Therapeutics from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Finally, Jefferies Financial Group boosted their price target on 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $45.63.

4D Molecular Therapeutics Stock Down 4.3 %

The business has a fifty day moving average of $25.08 and a two-hundred day moving average of $24.36.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.66) EPS for the quarter, topping the consensus estimate of ($0.73) by $0.07. 4D Molecular Therapeutics had a negative return on equity of 26.75% and a negative net margin of 436.30%. The company had revenue of $0.03 million during the quarter, compared to analyst estimates of $1.44 million. Analysts forecast that 4D Molecular Therapeutics, Inc. will post -2.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 8,153 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $31.78, for a total transaction of $259,102.34. Following the completion of the sale, the insider now directly owns 1,737 shares in the company, valued at approximately $55,201.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last three months, insiders sold 17,486 shares of company stock worth $553,073. Corporate insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Several large investors have recently bought and sold shares of the company. RA Capital Management L.P. grew its position in 4D Molecular Therapeutics by 21.3% in the first quarter. RA Capital Management L.P. now owns 5,051,511 shares of the company’s stock worth $160,941,000 after acquiring an additional 888,300 shares during the period. Janus Henderson Group PLC grew its position in 4D Molecular Therapeutics by 3.4% in the first quarter. Janus Henderson Group PLC now owns 3,197,444 shares of the company’s stock worth $101,844,000 after acquiring an additional 104,148 shares during the period. Vanguard Group Inc. grew its position in 4D Molecular Therapeutics by 25.3% in the first quarter. Vanguard Group Inc. now owns 2,339,943 shares of the company’s stock worth $74,551,000 after acquiring an additional 473,094 shares during the period. Redmile Group LLC purchased a new position in 4D Molecular Therapeutics in the first quarter worth approximately $40,189,000. Finally, Goldman Sachs Group Inc. grew its position in 4D Molecular Therapeutics by 415.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock worth $16,539,000 after acquiring an additional 658,069 shares during the period. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

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.