Quest Partners LLC Boosts Position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Quest Partners LLC lifted its holdings in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 17,409.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,778 shares of the company’s stock after acquiring an additional 5,745 shares during the quarter. Quest Partners LLC’s holdings in 4D Molecular Therapeutics were worth $121,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised 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 worth $110,000 after purchasing an additional 3,026 shares in the last quarter. Entropy Technologies LP bought a new position in 4D Molecular Therapeutics in the first quarter worth about $239,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of 4D Molecular Therapeutics by 93.5% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,579 shares of the company’s stock worth $305,000 after acquiring an additional 4,628 shares during the period. ProShare Advisors LLC bought a new stake in shares of 4D Molecular Therapeutics during the first quarter valued at approximately $344,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of 4D Molecular Therapeutics by 29.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 19,835 shares of the company’s stock worth $400,000 after acquiring an additional 4,557 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

4D Molecular Therapeutics Trading Up 1.4 %

Shares of 4D Molecular Therapeutics stock opened at $16.48 on Tuesday. The firm has a market cap of $852.07 million, a PE ratio of -6.75 and a beta of 2.80. The stock has a 50 day moving average of $16.93 and a 200 day moving average of $22.90. 4D Molecular Therapeutics, Inc. has a 12 month low of $9.44 and a 12 month high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its earnings results 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 analysts’ expectations of $1.90 million. As a group, equities research analysts forecast that 4D Molecular Therapeutics, Inc. will post -2.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FDMT shares. HC Wainwright reissued a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Friday, August 9th. Chardan Capital reissued a “buy” rating and issued a $38.00 target price on shares of 4D Molecular Therapeutics in a report on Wednesday, July 17th. BMO Capital Markets decreased their price target 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. Royal Bank of Canada restated an “outperform” rating and set a $40.00 target price on shares of 4D Molecular Therapeutics in a research note on Monday, July 22nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of 4D Molecular Therapeutics in a research note on Monday, September 9th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, 4D Molecular Therapeutics presently has an average rating of “Buy” and a consensus target price of $43.63.

Insider Transactions at 4D Molecular Therapeutics

In related news, insider Scott Bizily sold 1,750 shares of the stock in a transaction dated Tuesday, July 16th. The shares were 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 owns 6,781 shares of the company’s stock, valued at approximately $183,832.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Scott Bizily sold 1,750 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $27.11, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Kirn sold 12,930 shares of 4D Molecular Therapeutics stock in a transaction on Monday, June 24th. The stock was sold at an average price of $23.10, for a total transaction of $298,683.00. Following the transaction, the chief executive officer now directly owns 1,059,153 shares of the company’s stock, valued at $24,466,434.30. The disclosure for this sale can be found here. Insiders have sold a total of 33,847 shares of company stock worth $777,401 in the last three months. Insiders own 7.30% of the company’s stock.

4D Molecular Therapeutics 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.