4D Molecular Therapeutics (NASDAQ:FDMT) Sets New 1-Year High at $35.72

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $35.72 and last traded at $35.58, with a volume of 265016 shares traded. The stock had previously closed at $34.05.

Analysts Set New Price Targets

FDMT has been the subject of a number of recent research reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $81.00 price objective on shares of 4D Molecular Therapeutics in a report on Wednesday, February 7th. Royal Bank of Canada upped their price target on shares of 4D Molecular Therapeutics from $25.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, February 5th. BMO Capital Markets upped their price target on shares of 4D Molecular Therapeutics from $50.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, HC Wainwright restated a “buy” rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a report on Friday, March 1st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, 4D Molecular Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $39.44.

4D Molecular Therapeutics Trading Down 11.2 %

The stock’s 50-day moving average price is $27.05 and its 200 day moving average price is $18.76.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.09). The company had revenue of ($0.02) million for the quarter, compared to analyst estimates of $4.67 million. 4D Molecular Therapeutics had a negative net margin of 436.30% and a negative return on equity of 34.14%. Sell-side analysts forecast that 4D Molecular Therapeutics, Inc. will post -2.97 EPS for the current fiscal year.

Insider Activity

In other news, CEO David Kirn sold 40,732 shares of the company’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $20.31, for a total transaction of $827,266.92. Following the completion of the transaction, the chief executive officer now owns 1,185,087 shares of the company’s stock, valued at $24,069,116.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Scott Bizily sold 1,750 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $31.27, for a total value of $54,722.50. Following the completion of the transaction, the insider now owns 1,737 shares of the company’s stock, valued at $54,315.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Kirn sold 40,732 shares of the stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $20.31, for a total transaction of $827,266.92. Following the completion of the transaction, the chief executive officer now directly owns 1,185,087 shares of the company’s stock, valued at approximately $24,069,116.97. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 714,634 shares of company stock valued at $15,044,230. Insiders own 10.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in 4D Molecular Therapeutics by 16.7% in the third quarter. Bank of New York Mellon Corp now owns 135,711 shares of the company’s stock worth $1,728,000 after purchasing an additional 19,434 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of 4D Molecular Therapeutics during the third quarter worth approximately $566,000. RA Capital Management L.P. acquired a new stake in shares of 4D Molecular Therapeutics during the second quarter worth approximately $55,466,000. Aigen Investment Management LP acquired a new stake in shares of 4D Molecular Therapeutics during the third quarter worth approximately $216,000. Finally, Affinity Wealth Management LLC acquired a new stake in shares of 4D Molecular Therapeutics during the third quarter worth approximately $146,000. Institutional investors and hedge funds 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.