4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Receives Average Rating of “Buy” from Analysts

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) have been given a consensus rating of “Buy” by the ten brokerages that are covering the firm, Marketbeat reports. Ten analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have covered the stock in the last year is $45.25.

A number of analysts have recently weighed in on FDMT shares. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 price objective on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. Leerink Partners reissued an “outperform” rating and issued a $36.00 price objective (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research report on Thursday. HC Wainwright reissued a “buy” rating and issued a $36.00 price objective 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. Finally, BMO Capital Markets lowered their price objective on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, July 18th.

Insiders Place Their Bets

In other 4D Molecular Therapeutics news, CEO David Kirn sold 12,923 shares of 4D Molecular Therapeutics stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $22.49, for a total transaction of $290,638.27. Following the completion of the sale, the chief executive officer now owns 1,059,153 shares of the company’s stock, valued at approximately $23,820,350.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO David Kirn sold 12,923 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $22.49, for a total value of $290,638.27. Following the completion of the transaction, the chief executive officer now owns 1,059,153 shares of the company’s stock, valued at approximately $23,820,350.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott Bizily sold 1,750 shares of the business’s 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 directly owns 6,781 shares of the company’s stock, valued at approximately $183,832.91. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,417 shares of company stock valued at $486,883. 7.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its holdings in shares of 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 buying an additional 658,069 shares during the period. Sectoral Asset Management Inc. purchased a new position in shares of 4D Molecular Therapeutics in the 4th quarter valued at about $2,887,000. Entropy Technologies LP purchased a new position in shares of 4D Molecular Therapeutics in the 1st quarter valued at about $239,000. Kennedy Capital Management LLC purchased a new position in shares of 4D Molecular Therapeutics in the 1st quarter valued at about $4,358,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of 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. Institutional investors and hedge funds own 99.27% of the company’s stock.

4D Molecular Therapeutics Trading Down 11.9 %

Shares of NASDAQ:FDMT opened at $11.90 on Monday. 4D Molecular Therapeutics has a 12-month low of $9.44 and a 12-month high of $36.25. The business’s fifty day simple moving average is $16.12 and its 200-day simple moving average is $22.55. The company has a market capitalization of $615.27 million, a PE ratio of -4.88 and a beta of 2.80.

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

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.