4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price Up 4.2%

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) rose 4.2% during trading on Wednesday . The stock traded as high as $16.84 and last traded at $16.84. Approximately 43,602 shares changed hands during trading, a decline of 95% from the average daily volume of 861,982 shares. The stock had previously closed at $16.16.

Analyst Upgrades and Downgrades

FDMT has been the subject of a number of recent analyst reports. BMO Capital Markets decreased 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 report on Thursday, July 18th. Leerink Partners restated an “outperform” rating and issued a $36.00 price target (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating on shares of 4D Molecular Therapeutics in a report on Monday, September 9th. Finally, Chardan Capital upped their target price on shares of 4D Molecular Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $45.25.

4D Molecular Therapeutics Stock Down 19.7 %

The company has a market cap of $697.99 million, a P/E ratio of -5.53 and a beta of 2.80. The business has a fifty day simple moving average of $16.67 and a two-hundred day simple moving average of $22.77.

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

Insiders Place Their Bets

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 1,750 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $27.11, for a total transaction of $47,442.50. Following the completion of the transaction, the insider now owns 6,781 shares of the company’s stock, valued at approximately $183,832.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Scott Bizily sold 1,750 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $27.11, for a total value of $47,442.50. Following the completion of the transaction, the insider now directly owns 6,781 shares of the company’s stock, valued at $183,832.91. The transaction was disclosed in a legal filing 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 on Wednesday, July 10th. The stock was sold at an average price of $22.49, for a total transaction of $290,638.27. Following the completion of 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. Insiders sold 34,347 shares of company stock worth $785,566 in the last three months. 7.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Several large investors have recently modified their holdings of FDMT. Allspring Global Investments Holdings LLC lifted its stake in 4D Molecular Therapeutics by 702.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock worth $110,000 after purchasing an additional 3,026 shares during the last quarter. Quest Partners LLC boosted its holdings in 4D Molecular Therapeutics by 17,409.1% during the 2nd quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock valued at $121,000 after acquiring an additional 5,745 shares during the period. Entropy Technologies LP bought a new position in 4D Molecular Therapeutics in the 1st quarter valued at $239,000. China Universal Asset Management Co. Ltd. increased its stake in 4D Molecular Therapeutics by 93.5% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,579 shares of the company’s stock worth $305,000 after purchasing an additional 4,628 shares during the period. Finally, ProShare Advisors LLC bought a new stake in shares of 4D Molecular Therapeutics during the first quarter worth $344,000. Institutional investors 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.