Brokers Issue Forecasts for 4D Molecular Therapeutics, Inc.’s FY2024 Earnings (NASDAQ:FDMT)

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) – Stock analysts at Cantor Fitzgerald issued their FY2024 EPS estimates for shares of 4D Molecular Therapeutics in a research report issued on Monday, September 23rd. Cantor Fitzgerald analyst J. Schimmer expects that the company will post earnings of ($2.68) per share for the year. Cantor Fitzgerald currently has a “Neutral” rating on the stock. The consensus estimate for 4D Molecular Therapeutics’ current full-year earnings is ($2.75) per share.

Several other equities research analysts also recently commented on the stock. BMO Capital Markets lowered their target price 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. Leerink Partners restated an “outperform” rating and issued a $36.00 price objective (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th. Chardan Capital raised 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, September 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 target price on shares of 4D Molecular Therapeutics in a research note on Monday, July 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.25.

4D Molecular Therapeutics Price Performance

Shares of FDMT stock opened at $11.28 on Wednesday. The stock has a market cap of $586.22 million, a PE ratio of -4.62 and a beta of 2.80. The stock has a 50-day moving average of $15.37 and a 200-day moving average of $22.18. 4D Molecular Therapeutics has a one year low of $9.44 and a one year high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.09. The company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $1.90 million.

Institutional Trading of 4D Molecular Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of FDMT. Price T Rowe Associates Inc. MD grew its stake in 4D Molecular Therapeutics by 6.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,952 shares of the company’s stock valued at $764,000 after purchasing an additional 1,356 shares in the last quarter. Principal Financial Group Inc. increased its holdings in 4D Molecular Therapeutics by 9.6% during the second quarter. Principal Financial Group Inc. now owns 21,034 shares of the company’s stock worth $442,000 after buying an additional 1,849 shares during the last quarter. Algert Global LLC increased its holdings in 4D Molecular Therapeutics by 20.6% during 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 last quarter. Allspring Global Investments Holdings LLC raised its position in 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 in the last quarter. Finally, California State Teachers Retirement System lifted its stake in 4D Molecular Therapeutics by 12.6% in the first quarter. California State Teachers Retirement System now owns 28,490 shares of the company’s stock valued at $908,000 after acquiring an additional 3,197 shares during the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

Insider Activity

In related news, CEO David Kirn sold 12,923 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,059,153 shares in the company, valued at $23,820,350.97. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO David Kirn sold 12,923 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $22.49, for a total transaction of $290,638.27. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction 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 approximately $183,832.91. The disclosure for this sale can be found here. Insiders have sold a total of 21,417 shares of company stock worth $486,883 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.