4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price Down 4.1%

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)’s share price dropped 4.1% during mid-day trading on Tuesday . The stock traded as low as $27.57 and last traded at $27.57. Approximately 285,865 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 1,132,425 shares. The stock had previously closed at $28.75.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FDMT shares. Jefferies Financial Group upped their price objective on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, April 1st. BMO Capital Markets cut their target price on 4D Molecular Therapeutics from $70.00 to $63.00 and set an “outperform” rating for the company in a research note on Monday, April 1st. HC Wainwright reiterated a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Friday, March 1st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $81.00 price objective on shares of 4D Molecular Therapeutics in a report on Wednesday, February 7th. Finally, 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. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, 4D Molecular Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $40.60.

4D Molecular Therapeutics Stock Down 0.6 %

The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -10.12 and a beta of 2.87. The business has a 50 day moving average price of $28.96 and a 200-day moving average price of $19.62.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.09). The firm 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%. Research analysts anticipate that 4D Molecular Therapeutics, Inc. will post -3.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO David Kirn sold 5,696 shares of the business’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $18.41, for a total transaction of $104,863.36. Following the completion of the transaction, 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 filing with the SEC, which is accessible through this hyperlink. In related news, insider Robert Young Kim sold 24,552 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $30.05, for a total value of $737,787.60. Following the sale, the insider now directly owns 1,043 shares in the company, valued at approximately $31,342.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David Kirn sold 5,696 shares of the firm’s stock in a transaction on 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 directly owns 1,151,154 shares in the company, valued at $21,192,745.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,888 shares of company stock valued at $4,134,254. Insiders own 10.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. RA Capital Management L.P. grew its holdings in 4D Molecular Therapeutics by 35.6% during the third quarter. RA Capital Management L.P. now owns 4,163,211 shares of the company’s stock worth $52,998,000 after acquiring an additional 1,093,680 shares during the period. State Street Corp boosted its position in shares of 4D Molecular Therapeutics by 65.3% during the 1st quarter. State Street Corp now owns 2,042,189 shares of the company’s stock valued at $35,105,000 after purchasing an additional 807,031 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of 4D Molecular Therapeutics by 415.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock worth $16,539,000 after purchasing an additional 658,069 shares during the last quarter. BlackRock Inc. raised its holdings in shares of 4D Molecular Therapeutics by 14.3% in the 2nd quarter. BlackRock Inc. now owns 2,914,430 shares of the company’s stock worth $52,664,000 after purchasing an additional 363,695 shares in the last quarter. Finally, Novo Holdings A S lifted its stake in 4D Molecular Therapeutics by 25.0% during the fourth quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock valued at $30,390,000 after purchasing an additional 300,000 shares during the last quarter. Institutional investors and hedge funds own 99.27% 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.