4D Molecular Therapeutics (NASDAQ:FDMT) Rating Reiterated by Cantor Fitzgerald

4D Molecular Therapeutics (NASDAQ:FDMT)‘s stock had its “overweight” rating reiterated by equities research analysts at Cantor Fitzgerald in a research note issued on Monday, Benzinga reports.

FDMT has been the topic of a number of other reports. 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. 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 note on Thursday, July 18th. Chardan Capital reiterated a “buy” rating and set a $38.00 price target on shares of 4D Molecular Therapeutics in a report on Wednesday, July 17th. Finally, HC Wainwright reissued a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a report on Friday, August 9th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $43.63.

4D Molecular Therapeutics Price Performance

NASDAQ FDMT opened at $15.51 on Monday. The business has a fifty day moving average price of $17.33 and a two-hundred day moving average price of $23.26. The stock has a market capitalization of $801.91 million, a PE ratio of -6.36 and a beta of 2.81. 4D Molecular Therapeutics has a fifty-two week low of $9.44 and a fifty-two week high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.09. The business had revenue of $0.01 million for the quarter, compared to analyst estimates of $1.90 million. As a group, sell-side analysts expect that 4D Molecular Therapeutics will post -2.75 earnings per share for the current year.

Insider Activity at 4D Molecular Therapeutics

In related news, CEO David Kirn sold 12,930 shares of the firm’s stock in a transaction 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 directly owns 1,059,153 shares of the company’s stock, valued at approximately $24,466,434.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Scott Bizily sold 1,996 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $25.00, for a total value of $49,900.00. Following the transaction, the insider now owns 6,781 shares in the company, valued at approximately $169,525. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Kirn sold 12,930 shares of the company’s stock in a transaction on Monday, June 24th. The shares were 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 in the company, valued at $24,466,434.30. The disclosure for this sale can be found here. Insiders sold 33,847 shares of company stock worth $777,401 over the last three months. Company insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. RA Capital Management L.P. raised its position in shares of 4D Molecular Therapeutics by 21.3% in the 1st quarter. RA Capital Management L.P. now owns 5,051,511 shares of the company’s stock worth $160,941,000 after acquiring an additional 888,300 shares in the last quarter. Janus Henderson Group PLC lifted its stake in 4D Molecular Therapeutics by 3.4% in the first quarter. Janus Henderson Group PLC now owns 3,197,444 shares of the company’s stock valued at $101,844,000 after buying an additional 104,148 shares during the period. Vanguard Group Inc. lifted its stake in 4D Molecular Therapeutics by 25.3% in the first quarter. Vanguard Group Inc. now owns 2,339,943 shares of the company’s stock valued at $74,551,000 after buying an additional 473,094 shares during the period. Redmile Group LLC bought a new position in shares of 4D Molecular Therapeutics during the 1st quarter worth approximately $40,189,000. Finally, Goldman Sachs Group Inc. grew its position in shares of 4D Molecular Therapeutics by 415.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock worth $16,539,000 after buying an additional 658,069 shares during the period. 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.