4D Molecular Therapeutics (NASDAQ:FDMT) Shares Down 14.4%

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)’s stock price was down 14.4% during trading on Thursday . The stock traded as low as $14.23 and last traded at $14.40. Approximately 217,242 shares were traded during trading, a decline of 75% from the average daily volume of 866,806 shares. The stock had previously closed at $16.82.

Wall Street Analyst Weigh In

Several analysts have issued reports on FDMT shares. HC Wainwright reissued a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Thursday. Leerink Partners restated an “outperform” rating and set a $36.00 price objective (down previously from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday. Chardan Capital upped their price objective on 4D Molecular Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday. BMO Capital Markets decreased their target price 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. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of 4D Molecular Therapeutics in a report on Monday, September 9th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, 4D Molecular Therapeutics has a consensus rating of “Buy” and a consensus price target of $45.25.

4D Molecular Therapeutics Stock Down 11.9 %

The stock’s 50 day moving average is $16.12 and its two-hundred day moving average is $22.59. 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 for the quarter, topping 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. On average, sell-side analysts predict that 4D Molecular Therapeutics, Inc. will post -2.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Scott Bizily sold 1,750 shares of 4D Molecular Therapeutics stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $27.11, for a total value of $47,442.50. Following the transaction, the insider now directly owns 6,781 shares in the company, valued at approximately $183,832.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other 4D Molecular Therapeutics news, CEO David Kirn sold 12,923 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were 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 directly owns 1,059,153 shares in the company, valued at $23,820,350.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott Bizily sold 1,750 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 6,781 shares in the company, valued at $183,832.91. The disclosure for this sale can be found here. Insiders sold a total of 34,347 shares of company stock worth $785,566 over the last 90 days. Company insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FDMT. Allspring Global Investments Holdings LLC increased its position in shares of 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 worth $110,000 after purchasing an additional 3,026 shares in 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 acquiring an additional 5,745 shares in the last quarter. Entropy Technologies LP acquired a new stake in 4D Molecular Therapeutics in the first quarter worth about $239,000. China Universal Asset Management Co. Ltd. grew its stake in shares of 4D Molecular Therapeutics by 93.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,579 shares of the company’s stock worth $305,000 after acquiring an additional 4,628 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new position in shares of 4D Molecular Therapeutics during the first quarter valued at about $344,000. 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.