4D Molecular Therapeutics’ (FDMT) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research note released on Thursday, Benzinga reports. They currently have a $36.00 price target on the stock.

FDMT has been the topic of several other research reports. Royal Bank of Canada reissued an outperform rating and set a $40.00 target price on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. Cantor Fitzgerald restated an overweight rating on shares of 4D Molecular Therapeutics in a research report on Monday, September 9th. Chardan Capital restated a buy rating and issued a $38.00 target price on shares of 4D Molecular Therapeutics in a report on Wednesday, July 17th. Finally, BMO Capital Markets cut their price target 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. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of Buy and a consensus target price of $45.25.

4D Molecular Therapeutics Trading Down 19.7 %

Shares of NASDAQ:FDMT opened at $13.50 on Thursday. 4D Molecular Therapeutics has a 52 week low of $9.44 and a 52 week high of $36.25. The company’s 50 day moving average is $16.67 and its two-hundred day moving average is $22.77. The company has a market cap of $697.99 million, a PE ratio of -5.53 and a beta of 2.80.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its earnings results on Thursday, August 8th. The company reported ($0.63) EPS for the quarter, beating 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. As a group, equities research analysts expect that 4D Molecular Therapeutics will post -2.75 EPS for the current year.

Insiders Place Their Bets

In other news, CEO David Kirn sold 12,930 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $23.10, for a total value of $298,683.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this link. In other 4D Molecular Therapeutics news, CEO David Kirn sold 12,930 shares of 4D Molecular Therapeutics stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $23.10, for a total value of $298,683.00. Following the transaction, the chief executive officer now directly owns 1,059,153 shares in the company, valued at approximately $24,466,434.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott Bizily sold 4,248 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $21.36, for a total value of $90,737.28. Following the completion of the transaction, the insider now directly owns 1,737 shares in the company, valued at approximately $37,102.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,347 shares of company stock valued at $785,566. Insiders own 7.30% of the company’s stock.

Institutional Trading of 4D Molecular Therapeutics

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