4D Molecular Therapeutics (NASDAQ:FDMT) Trading 4.2% Higher

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) shares traded up 4.2% during mid-day trading on Wednesday . The company traded as high as $16.84 and last traded at $16.84. 43,602 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 861,982 shares. The stock had previously closed at $16.16.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Chardan Capital reissued a “buy” rating and issued a $38.00 price objective on shares of 4D Molecular Therapeutics in a report on Wednesday, July 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of 4D Molecular Therapeutics in a research report on Monday, September 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 target price on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Friday, August 9th. Finally, BMO Capital Markets decreased their target price on shares of 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, July 18th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $43.63.

4D Molecular Therapeutics Price Performance

The company’s 50 day moving average price is $16.80 and its 200 day moving average price is $22.81. The firm has a market cap of $852.58 million, a PE ratio of -6.62 and a beta of 2.80.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate 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. Sell-side analysts expect that 4D Molecular Therapeutics, Inc. will post -2.75 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Scott Bizily sold 4,248 shares of the firm’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 of the company’s stock, valued at $37,102.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Scott Bizily sold 4,248 shares of 4D Molecular Therapeutics 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 $37,102.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Kirn sold 12,930 shares of 4D Molecular Therapeutics stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 1,059,153 shares of the company’s stock, valued at approximately $24,466,434.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,847 shares of company stock valued at $777,401. 7.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FDMT. Algert Global LLC lifted its position in shares of 4D Molecular Therapeutics by 20.6% during the 2nd 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 last quarter. The Manufacturers Life Insurance Company lifted its position in shares of 4D Molecular Therapeutics by 25.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,975 shares of the company’s stock worth $398,000 after buying an additional 3,850 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of 4D Molecular Therapeutics by 652.7% during the 2nd quarter. Squarepoint Ops LLC now owns 110,041 shares of the company’s stock worth $2,310,000 after buying an additional 95,422 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of 4D Molecular Therapeutics during the 2nd quarter worth approximately $246,000. Finally, Sofinnova Investments Inc. lifted its position in shares of 4D Molecular Therapeutics by 36.8% during the 2nd quarter. Sofinnova Investments Inc. now owns 271,155 shares of the company’s stock worth $5,692,000 after buying an additional 72,969 shares during the last quarter. Hedge funds and other institutional investors own 99.27% 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.