Quest Partners LLC Acquires 5,745 Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Quest Partners LLC boosted its holdings in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 17,409.1% in the second quarter, Holdings Channel.com reports. The fund owned 5,778 shares of the company’s stock after acquiring an additional 5,745 shares during the quarter. Quest Partners LLC’s holdings in 4D Molecular Therapeutics were worth $121,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of FDMT. Goldman Sachs Group Inc. lifted its position in shares of 4D Molecular Therapeutics by 415.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock worth $16,539,000 after purchasing an additional 658,069 shares during the last quarter. Sectoral Asset Management Inc. purchased a new stake in 4D Molecular Therapeutics in the 4th quarter valued at about $2,887,000. Entropy Technologies LP bought a new position in 4D Molecular Therapeutics in the 1st quarter worth about $239,000. Kennedy Capital Management LLC bought a new position in 4D Molecular Therapeutics in the 1st quarter worth about $4,358,000. Finally, 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 acquiring an additional 3,026 shares during the period. Institutional investors own 99.27% of the company’s stock.

Wall Street Analysts Forecast Growth

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

4D Molecular Therapeutics Price Performance

Shares of FDMT stock opened at $16.48 on Tuesday. The stock’s 50-day moving average is $16.93 and its 200 day moving average is $22.90. 4D Molecular Therapeutics, Inc. has a 1-year low of $9.44 and a 1-year high of $36.25. The company has a market cap of $852.07 million, a P/E ratio of -6.75 and a beta of 2.80.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.09. The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $1.90 million. On average, analysts anticipate that 4D Molecular Therapeutics, Inc. will post -2.75 EPS for the current year.

Insider Buying and Selling at 4D Molecular Therapeutics

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