4D Molecular Therapeutics (NASDAQ:FDMT) Trading Down 2.9%

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) were down 2.9% on Tuesday . The stock traded as low as $25.62 and last traded at $25.62. Approximately 241,148 shares changed hands during trading, a decline of 77% from the average daily volume of 1,054,143 shares. The stock had previously closed at $26.39.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FDMT shares. Barclays started coverage on shares of 4D Molecular Therapeutics in a research note on Monday, April 15th. They set an “overweight” rating for the company. Royal Bank of Canada upped their price target on shares of 4D Molecular Therapeutics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Jefferies Financial Group upped their price target on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. BMO Capital Markets lowered their price target on shares of 4D Molecular Therapeutics from $70.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, April 1st. Finally, HC Wainwright restated a “buy” rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a research report on Friday, March 1st. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, 4D Molecular Therapeutics presently has an average rating of “Buy” and a consensus price target of $44.22.

4D Molecular Therapeutics Stock Performance

The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -8.85 and a beta of 2.87. The stock’s fifty day simple moving average is $28.68 and its two-hundred day simple moving average is $20.57.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.09). 4D Molecular Therapeutics had a negative net margin of 436.30% and a negative return on equity of 34.14%. The firm had revenue of ($0.02) million for the quarter, compared to analysts’ expectations of $4.67 million. On average, equities analysts anticipate that 4D Molecular Therapeutics, Inc. will post -3.03 EPS for the current fiscal year.

Insider Buying and Selling at 4D Molecular Therapeutics

In other news, CEO David Kirn sold 92,001 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $27.13, for a total value of $2,495,987.13. Following the completion of the sale, the chief executive officer now directly owns 1,059,153 shares of the company’s stock, valued at $28,734,820.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Scott Bizily sold 5,833 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $35.04, for a total value of $204,388.32. Following the transaction, the insider now owns 1,737 shares in the company, valued at $60,864.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Kirn sold 92,001 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $27.13, for a total value of $2,495,987.13. Following the completion of the transaction, the chief executive officer now owns 1,059,153 shares in the company, valued at approximately $28,734,820.89. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,942 shares of company stock valued at $4,074,435. 10.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On 4D Molecular Therapeutics

A number of institutional investors have recently modified their holdings of FDMT. SG Americas Securities LLC bought a new position in shares of 4D Molecular Therapeutics in the third quarter valued at approximately $156,000. Affinity Wealth Management LLC bought a new position in shares of 4D Molecular Therapeutics in the third quarter valued at approximately $146,000. Bank of New York Mellon Corp increased its position in 4D Molecular Therapeutics by 16.7% during the third quarter. Bank of New York Mellon Corp now owns 135,711 shares of the company’s stock worth $1,728,000 after acquiring an additional 19,434 shares during the period. Panagora Asset Management Inc. bought a new position in 4D Molecular Therapeutics during the third quarter worth $964,000. Finally, M&T Bank Corp increased its position in 4D Molecular Therapeutics by 37.0% during the third quarter. M&T Bank Corp now owns 39,481 shares of the company’s stock worth $503,000 after acquiring an additional 10,667 shares during the period. Institutional investors own 99.27% of the company’s stock.

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.