Rhumbline Advisers Has $1.53 Million Stock Position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Rhumbline Advisers increased its position in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 14.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,933 shares of the company’s stock after acquiring an additional 9,062 shares during the quarter. Rhumbline Advisers owned 0.14% of 4D Molecular Therapeutics worth $1,531,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in 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 valued at $110,000 after buying an additional 3,026 shares during the period. Entropy Technologies LP acquired a new position in shares of 4D Molecular Therapeutics in the 1st quarter valued at about $239,000. China Universal Asset Management Co. Ltd. lifted its position in shares of 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 worth $305,000 after purchasing an additional 4,628 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of 4D Molecular Therapeutics during the first quarter worth approximately $344,000. Finally, Bellevue Group AG purchased a new position in 4D Molecular Therapeutics during the first quarter valued at approximately $500,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

4D Molecular Therapeutics Stock Down 11.9 %

NASDAQ:FDMT opened at $11.90 on Friday. The firm has a 50-day moving average price of $16.12 and a 200 day moving average price of $22.59. The firm has a market capitalization of $615.27 million, a PE ratio of -4.88 and a beta of 2.80. 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 issued its earnings results 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. On average, research analysts expect that 4D Molecular Therapeutics, Inc. will post -2.75 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FDMT. HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Thursday. Cantor Fitzgerald reissued an “overweight” rating on shares of 4D Molecular Therapeutics in a research report on Monday, September 9th. Chardan Capital boosted their price target on 4D Molecular Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday. BMO Capital Markets decreased their price objective on shares of 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 price target on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $45.25.

Insiders Place Their Bets

In related news, insider Scott Bizily sold 4,248 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $21.36, for a total value of $90,737.28. Following the completion of the transaction, the insider now owns 1,737 shares in the company, valued at approximately $37,102.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Scott Bizily sold 4,248 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $21.36, for a total value of $90,737.28. Following the transaction, the insider now owns 1,737 shares in the company, valued at $37,102.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Kirn sold 12,930 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $23.10, for a total value of $298,683.00. Following the sale, 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. Over the last three months, insiders sold 34,347 shares of company stock valued at $785,566. Insiders own 7.30% of the company’s stock.

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.