4D Molecular Therapeutics (NASDAQ:FDMT) Shares Gap Down to $11.90

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $11.90, but opened at $11.46. 4D Molecular Therapeutics shares last traded at $11.53, with a volume of 159,552 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FDMT shares. BMO Capital Markets cut 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 research report on Thursday, July 18th. HC Wainwright restated a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research report on Thursday. Leerink Partners reiterated an “outperform” rating and set a $36.00 target price (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research report on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $40.00 price target on shares of 4D Molecular Therapeutics in a research note on Monday, July 22nd. Finally, Cantor Fitzgerald cut 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $45.25.

4D Molecular Therapeutics Trading Down 3.9 %

The business has a 50 day simple moving average of $16.12 and a two-hundred day simple moving average of $22.51. The company has a market cap of $591.48 million, a PE ratio of -4.71 and a beta of 2.80.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted 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 firm had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $1.90 million. On average, equities research analysts expect that 4D Molecular Therapeutics, Inc. will post -2.75 earnings per share for the current fiscal year.

Insider Activity at 4D Molecular Therapeutics

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

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of institutional investors have recently made changes to their positions in FDMT. Price T Rowe Associates Inc. MD grew its holdings in shares of 4D Molecular Therapeutics by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,952 shares of the company’s stock valued at $764,000 after purchasing an additional 1,356 shares during the last quarter. Principal Financial Group Inc. grew its stake in 4D Molecular Therapeutics by 9.6% during the 2nd quarter. Principal Financial Group Inc. now owns 21,034 shares of the company’s stock worth $442,000 after buying an additional 1,849 shares during the last quarter. Algert Global LLC increased its position in 4D Molecular Therapeutics by 20.6% in the second quarter. Algert Global LLC now owns 16,588 shares of the company’s stock worth $348,000 after buying an additional 2,828 shares during the period. Allspring Global Investments Holdings LLC increased its holdings 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 worth $110,000 after acquiring an additional 3,026 shares during the period. Finally, California State Teachers Retirement System lifted its position in 4D Molecular Therapeutics by 12.6% in the 1st quarter. California State Teachers Retirement System now owns 28,490 shares of the company’s stock valued at $908,000 after purchasing an additional 3,197 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors.

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.