4D Molecular Therapeutics (NASDAQ:FDMT) Given New $58.00 Price Target at Jefferies Financial Group

4D Molecular Therapeutics (NASDAQ:FDMT) had its price objective raised by Jefferies Financial Group from $30.00 to $58.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on the company. The Goldman Sachs Group reaffirmed a buy rating and issued a $81.00 target price on shares of 4D Molecular Therapeutics in a research report on Wednesday, February 7th. HC Wainwright reissued a buy rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research report on Friday, March 1st. Royal Bank of Canada lifted their price objective 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. Finally, BMO Capital Markets lifted their price objective on 4D Molecular Therapeutics from $50.00 to $70.00 and gave the company an outperform rating in a research report on Monday, February 5th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, 4D Molecular Therapeutics has a consensus rating of Moderate Buy and a consensus price target of $40.60.

4D Molecular Therapeutics Stock Down 1.0 %

Shares of 4D Molecular Therapeutics stock opened at $27.64 on Monday. The stock has a market cap of $1.38 billion, a PE ratio of -10.39 and a beta of 2.87. The business has a fifty day simple moving average of $28.14 and a 200-day simple moving average of $19.22. 4D Molecular Therapeutics has a 12 month low of $9.44 and a 12 month high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its earnings results on Thursday, February 29th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.09). The business had revenue of ($0.02) million during the quarter, compared to analyst estimates of $4.67 million. 4D Molecular Therapeutics had a negative return on equity of 34.14% and a negative net margin of 436.30%. Analysts expect that 4D Molecular Therapeutics will post -3.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other 4D Molecular Therapeutics news, CEO David Kirn sold 5,696 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $18.41, for a total value of $104,863.36. Following the completion of the sale, the chief executive officer now owns 1,151,154 shares of the company’s stock, valued at $21,192,745.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Robert Young Kim sold 24,552 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $30.05, for a total transaction of $737,787.60. Following the transaction, the insider now directly owns 1,043 shares in the company, valued at $31,342.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Kirn sold 5,696 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $18.41, for a total value of $104,863.36. Following the transaction, the chief executive officer now owns 1,151,154 shares in the company, valued at $21,192,745.14. The disclosure for this sale can be found here. Insiders sold 147,888 shares of company stock valued at $4,134,254 over the last quarter. Insiders own 10.70% of the company’s stock.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in FDMT. Bfsg LLC bought a new stake in shares of 4D Molecular Therapeutics in the 4th quarter valued at approximately $30,000. International Assets Investment Management LLC bought a new stake in shares of 4D Molecular Therapeutics in the 3rd quarter valued at approximately $36,000. US Bancorp DE grew its stake in shares of 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 grew its stake in shares of 4D Molecular Therapeutics by 44.2% in the 2nd quarter. Lazard Asset Management LLC now owns 2,190 shares of the company’s stock valued at $38,000 after purchasing an additional 671 shares during the period. Finally, Ensign Peak Advisors Inc grew its stake in shares of 4D Molecular Therapeutics by 167.9% in the 3rd quarter. Ensign Peak Advisors Inc now owns 7,180 shares of the company’s stock valued at $58,000 after purchasing an additional 4,500 shares during the period. 99.27% of the stock is currently owned by institutional investors.

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.