BMO Capital Markets Trims 4D Molecular Therapeutics (NASDAQ:FDMT) Target Price to $63.00

4D Molecular Therapeutics (NASDAQ:FDMT) had its price objective reduced by BMO Capital Markets from $70.00 to $63.00 in a research note published on Monday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also issued reports on FDMT. HC Wainwright reissued a buy rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Friday, March 1st. The Goldman Sachs Group reissued a buy rating and issued a $81.00 target price on shares of 4D Molecular Therapeutics in a research report on Wednesday, February 7th. Jefferies Financial Group lifted their target price on 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a buy rating in a research report on Monday. Finally, Royal Bank of Canada lifted their target price on 4D Molecular Therapeutics from $25.00 to $35.00 and gave the company an outperform rating in a research report on Monday, February 5th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $40.60.

4D Molecular Therapeutics Price Performance

NASDAQ:FDMT opened at $27.92 on Monday. 4D Molecular Therapeutics has a fifty-two week low of $9.44 and a fifty-two week high of $36.25. The stock has a market capitalization of $1.39 billion, a PE ratio of -10.50 and a beta of 2.87. The business’s 50-day simple moving average is $27.97 and its 200-day simple moving average is $19.16.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.09). 4D Molecular Therapeutics had a negative net margin of 436.30% and a negative return on equity of 34.14%. The business had revenue of ($0.02) million for the quarter, compared to the consensus estimate of $4.67 million. On average, research analysts expect that 4D Molecular Therapeutics will post -2.97 earnings per share for the current year.

Insiders Place Their Bets

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 8,153 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $31.78, for a total transaction of $259,102.34. Following the transaction, the insider now owns 1,737 shares of the company’s stock, valued at approximately $55,201.86. 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 8,153 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $31.78, for a total transaction of $259,102.34. Following the transaction, the insider now directly owns 1,737 shares of the company’s stock, valued at approximately $55,201.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Kirn sold 5,696 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $18.41, for a total value of $104,863.36. Following the transaction, the chief executive officer now directly owns 1,151,154 shares in the company, valued at $21,192,745.14. The disclosure for this sale can be found here. Insiders have sold 147,888 shares of company stock valued at $4,134,254 in the last 90 days. 10.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Bfsg LLC acquired a new position in shares of 4D Molecular Therapeutics during the 4th quarter worth approximately $30,000. US Bancorp DE boosted its stake in 4D Molecular Therapeutics by 580.7% in the 4th quarter. US Bancorp DE now owns 1,797 shares of the company’s stock valued at $36,000 after purchasing an additional 1,533 shares during the period. Lazard Asset Management LLC bought a new stake in 4D Molecular Therapeutics in the 4th quarter valued at $48,000. International Assets Investment Management LLC bought a new stake in 4D Molecular Therapeutics in the 3rd quarter valued at $36,000. Finally, Royal Bank of Canada boosted its stake in 4D Molecular Therapeutics by 84.8% in the 2nd quarter. Royal Bank of Canada now owns 3,223 shares of the company’s stock valued at $59,000 after purchasing an additional 1,479 shares during the period. 99.27% of the stock is owned by institutional investors and hedge funds.

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.