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

Leerink Partners restated their outperform rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a $36.00 price objective on the stock, down from their prior price objective of $40.00.

A number of other research firms also recently commented on FDMT. Royal Bank of Canada restated an outperform rating and set a $40.00 price target on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. Cantor Fitzgerald reissued an overweight rating on shares of 4D Molecular Therapeutics in a report on Monday, September 9th. BMO Capital Markets decreased their price target on 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. HC Wainwright reiterated a buy rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a research report on Thursday. Finally, Chardan Capital restated a buy rating and issued a $38.00 price objective on shares of 4D Molecular Therapeutics in a report on Wednesday, July 17th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $45.25.

4D Molecular Therapeutics Price Performance

Shares of 4D Molecular Therapeutics stock opened at $13.50 on Thursday. 4D Molecular Therapeutics has a 1-year low of $9.44 and a 1-year high of $36.25. The business’s fifty day moving average price is $16.67 and its two-hundred day moving average price is $22.77. The company has a market capitalization of $697.99 million, a P/E ratio of -5.53 and a beta of 2.80.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.63) EPS for the quarter, beating 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. On average, research analysts expect that 4D Molecular Therapeutics will post -2.75 earnings per share for the current fiscal year.

Insider Activity

In related 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Scott Bizily sold 1,750 shares of the company’s stock in a transaction 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 directly owns 6,781 shares of the company’s stock, valued at $183,832.91. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David Kirn sold 12,923 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $22.49, for a total value of $290,638.27. Following the sale, the chief executive officer now owns 1,059,153 shares in the company, valued at approximately $23,820,350.97. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,347 shares of company stock worth $785,566. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Algert Global LLC boosted its position in shares of 4D Molecular Therapeutics by 20.6% in the second quarter. Algert Global LLC now owns 16,588 shares of the company’s stock worth $348,000 after buying an additional 2,828 shares during the period. The Manufacturers Life Insurance Company raised its position in 4D Molecular Therapeutics by 25.5% during the second quarter. The Manufacturers Life Insurance Company now owns 18,975 shares of the company’s stock valued at $398,000 after buying an additional 3,850 shares during the period. Squarepoint Ops LLC lifted its stake in 4D Molecular Therapeutics by 652.7% in the 2nd quarter. Squarepoint Ops LLC now owns 110,041 shares of the company’s stock worth $2,310,000 after acquiring an additional 95,422 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in 4D Molecular Therapeutics during the 2nd quarter worth about $246,000. Finally, Sofinnova Investments Inc. grew its stake in 4D Molecular Therapeutics by 36.8% during the 2nd quarter. Sofinnova Investments Inc. now owns 271,155 shares of the company’s stock valued at $5,692,000 after acquiring an additional 72,969 shares in the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

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.