4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Given Average Rating of “Buy” by Brokerages

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) has been assigned an average recommendation of “Buy” from the ten analysts that are currently covering the stock, MarketBeat reports. Ten analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued a report on the stock in the last year is $45.25.

Several research firms have commented on FDMT. Chardan Capital boosted their price objective on 4D Molecular Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday. Cantor Fitzgerald restated an “overweight” rating on shares of 4D Molecular Therapeutics in a report on Monday, September 9th. Leerink Partners reiterated an “outperform” rating and issued a $36.00 price objective (down from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday. Royal Bank of Canada restated an “outperform” rating and set a $40.00 price target on shares of 4D Molecular Therapeutics in a research note on Monday, July 22nd. Finally, BMO Capital Markets decreased their price target on 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.

Insider Activity at 4D Molecular Therapeutics

In related news, insider Scott Bizily sold 1,750 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 6,781 shares in the company, valued at $183,832.91. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO David Kirn sold 12,923 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $22.49, for a total value 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 $23,820,350.97. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Scott Bizily sold 1,750 shares of the firm’s 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 sale, the insider now owns 6,781 shares of the company’s stock, valued at approximately $183,832.91. The disclosure for this sale can be found here. Insiders sold a total of 21,417 shares of company stock worth $486,883 over the last 90 days. Company insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in 4D Molecular Therapeutics by 10.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 706,000 shares of the company’s stock valued at $14,819,000 after buying an additional 65,000 shares in the last quarter. Algert Global LLC increased its holdings in 4D Molecular Therapeutics by 20.6% in the second quarter. Algert Global LLC now owns 16,588 shares of the company’s stock valued at $348,000 after buying an additional 2,828 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in 4D Molecular Therapeutics by 25.5% in 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 in the last quarter. Squarepoint Ops LLC increased its holdings in 4D Molecular Therapeutics by 652.7% in the second quarter. Squarepoint Ops LLC now owns 110,041 shares of the company’s stock valued at $2,310,000 after buying an additional 95,422 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in 4D Molecular Therapeutics in the second quarter valued at about $246,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

4D Molecular Therapeutics Trading Down 11.9 %

NASDAQ:FDMT opened at $11.90 on Monday. 4D Molecular Therapeutics has a 12 month low of $9.44 and a 12 month high of $36.25. The stock has a 50 day moving average of $16.12 and a two-hundred day moving average of $22.55. The firm has a market cap of $615.27 million, a P/E ratio of -4.88 and a beta of 2.80.

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

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.