4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price Down 2.3%

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) dropped 2.3% on Wednesday . The company traded as low as $26.13 and last traded at $26.13. Approximately 43,923 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 1,080,685 shares. The stock had previously closed at $26.75.

Wall Street Analyst Weigh In

FDMT has been the subject of a number of research reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $81.00 price objective on shares of 4D Molecular Therapeutics in a research note on Wednesday, February 7th. Jefferies Financial Group lifted their price objective on 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Barclays initiated coverage on 4D Molecular Therapeutics in a research note on Monday. They issued an “overweight” rating for the company. BMO Capital Markets dropped their price objective 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. Finally, HC Wainwright reissued a “buy” rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a research note on Friday, March 1st. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $44.22.

4D Molecular Therapeutics Trading Down 2.1 %

The company has a 50 day simple moving average of $28.97 and a 200 day simple moving average of $20.13. The stock has a market capitalization of $1.27 billion, a PE ratio of -9.32 and a beta of 2.87.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its earnings results on Thursday, February 29th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.09). The business had revenue of ($0.02) million for the quarter, compared to analysts’ expectations of $4.67 million. 4D Molecular Therapeutics had a negative return on equity of 34.14% and a negative net margin of 436.30%. On average, equities research analysts predict that 4D Molecular Therapeutics, Inc. will post -3.03 EPS for the current year.

Insider Transactions at 4D Molecular Therapeutics

In related news, CEO David Kirn sold 5,696 shares of the company’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 sale, the chief executive officer now owns 1,151,154 shares in the company, valued at approximately $21,192,745.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO David Kirn sold 5,696 shares of the company’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 sale, the chief executive officer now owns 1,151,154 shares in the company, valued at approximately $21,192,745.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Scott Bizily sold 6,244 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $27.50, for a total value of $171,710.00. Following the completion of the sale, the insider now owns 1,737 shares in the company, valued at approximately $47,767.50. The disclosure for this sale can be found here. In the last three months, insiders sold 149,638 shares of company stock valued at $4,179,299. Corporate insiders own 10.70% of the company’s stock.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of FDMT. Allspring Global Investments Holdings LLC grew its holdings in 4D Molecular Therapeutics by 702.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock valued at $110,000 after buying an additional 3,026 shares during the last quarter. Wellington Management Group LLP boosted its stake in 4D Molecular Therapeutics by 4.5% in the fourth quarter. Wellington Management Group LLP now owns 180,475 shares of the company’s stock valued at $3,656,000 after acquiring an additional 7,753 shares during the period. Goldman Sachs Group Inc. boosted its stake in 4D Molecular Therapeutics by 415.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock valued at $16,539,000 after acquiring an additional 658,069 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in 4D Molecular Therapeutics by 5.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,596 shares of the company’s stock valued at $458,000 after acquiring an additional 1,106 shares during the period. Finally, Virtus ETF Advisers LLC raised its holdings in shares of 4D Molecular Therapeutics by 24.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,574 shares of the company’s stock valued at $113,000 after buying an additional 1,095 shares during the last quarter. 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.