4D Molecular Therapeutics’ (FDMT) Outperform Rating Reaffirmed at Leerink Partners

4D Molecular Therapeutics (NASDAQ:FDMT)‘s stock had its “outperform” rating reissued by research analysts at Leerink Partners in a report issued on Thursday, Benzinga reports. They currently have a $36.00 price target on the stock, down from their previous price target of $40.00. Leerink Partners’ price target would indicate a potential upside of 114.03% from the company’s previous close.

Several other research firms have also issued reports on FDMT. Cantor Fitzgerald reissued an “overweight” rating on shares of 4D Molecular Therapeutics in a research report on Monday, September 9th. BMO Capital Markets lowered their price target on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. Chardan Capital restated a “buy” rating and set a $38.00 price objective on shares of 4D Molecular Therapeutics in a research note on Wednesday, July 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 target price on shares of 4D Molecular Therapeutics in a research note on Monday, July 22nd. Finally, HC Wainwright reiterated a “buy” rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Thursday. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $45.13.

4D Molecular Therapeutics Trading Up 4.1 %

Shares of FDMT stock opened at $16.82 on Thursday. The company has a market cap of $869.64 million, a P/E ratio of -6.89 and a beta of 2.80. The firm has a fifty day moving average price of $16.67 and a 200 day moving average price of $22.77. 4D Molecular Therapeutics 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) earnings per share (EPS) for the quarter, topping 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 analysts forecast that 4D Molecular Therapeutics will post -2.75 EPS for the current year.

Insider Buying and Selling

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 1,750 shares of the firm’s 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 completion of the sale, the insider now owns 6,781 shares in the company, valued at approximately $183,832.91. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other 4D Molecular Therapeutics news, insider Scott Bizily sold 1,750 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $27.11, for a total transaction 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 sale 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 transaction of $298,683.00. Following the completion of the sale, the chief executive officer now directly 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 90 days, insiders have sold 34,347 shares of company stock worth $785,566. 7.30% of the stock is currently owned by corporate insiders.

Institutional Trading of 4D Molecular Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. 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 valued at $110,000 after acquiring an additional 3,026 shares during the last quarter. Quest Partners LLC boosted its holdings in 4D Molecular Therapeutics by 17,409.1% in the second quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock worth $121,000 after purchasing an additional 5,745 shares during the period. Entropy Technologies LP bought a new stake in 4D Molecular Therapeutics during the first quarter valued at $239,000. Hsbc Holdings PLC acquired a new stake in shares of 4D Molecular Therapeutics during the second quarter worth $246,000. Finally, American Century Companies Inc. bought a new position in shares of 4D Molecular Therapeutics in the 2nd quarter worth about $268,000. Institutional investors and hedge funds 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.