Brokers Offer Predictions for 4D Molecular Therapeutics, Inc.’s Q1 2023 Earnings (NASDAQ:FDMT)

4D Molecular Therapeutics, Inc. (NASDAQ:FDMTGet Rating) – Equities research analysts at SVB Leerink issued their Q1 2023 EPS estimates for 4D Molecular Therapeutics in a report issued on Monday, January 23rd. SVB Leerink analyst M. Foroohar forecasts that the company will post earnings of ($0.75) per share for the quarter. SVB Leerink has a “Market Perform” rating and a $11.00 price objective on the stock. The consensus estimate for 4D Molecular Therapeutics’ current full-year earnings is ($3.25) per share. SVB Leerink also issued estimates for 4D Molecular Therapeutics’ Q2 2023 earnings at ($0.74) EPS, Q3 2023 earnings at ($0.74) EPS and Q4 2023 earnings at ($0.73) EPS.

A number of other research firms have also recently issued reports on FDMT. Bank of America boosted their price objective on shares of 4D Molecular Therapeutics from $15.00 to $25.00 in a research report on Monday, November 14th. The Goldman Sachs Group upgraded shares of 4D Molecular Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $12.00 to $68.00 in a research report on Tuesday, November 15th. HC Wainwright began coverage on shares of 4D Molecular Therapeutics in a research report on Friday, November 18th. They issued a “buy” rating and a $36.00 price objective on the stock. Finally, Evercore ISI boosted their price objective on shares of 4D Molecular Therapeutics from $32.00 to $45.00 in a research report on Monday, November 14th.

4D Molecular Therapeutics Stock Up 5.1 %

4D Molecular Therapeutics stock opened at $20.86 on Tuesday. The firm has a fifty day simple moving average of $21.99 and a two-hundred day simple moving average of $13.47. 4D Molecular Therapeutics has a twelve month low of $5.32 and a twelve month high of $26.49. The company has a market capitalization of $675.70 million, a PE ratio of -5.96 and a beta of 2.77.

4D Molecular Therapeutics (NASDAQ:FDMTGet Rating) last posted its quarterly earnings results on Tuesday, November 8th. The company reported ($0.79) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.06. The business had revenue of $0.50 million during the quarter, compared to the consensus estimate of $1.70 million. 4D Molecular Therapeutics had a negative net margin of 5,331.88% and a negative return on equity of 36.94%.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of FDMT. Point72 Asset Management L.P. purchased a new stake in 4D Molecular Therapeutics in the third quarter worth about $2,404,000. State Street Corp lifted its stake in shares of 4D Molecular Therapeutics by 18.2% in the first quarter. State Street Corp now owns 1,489,371 shares of the company’s stock worth $22,519,000 after buying an additional 229,711 shares in the last quarter. Millennium Management LLC lifted its stake in shares of 4D Molecular Therapeutics by 256.8% in the second quarter. Millennium Management LLC now owns 274,428 shares of the company’s stock worth $1,916,000 after buying an additional 197,504 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of 4D Molecular Therapeutics by 275.7% in the second quarter. Renaissance Technologies LLC now owns 259,600 shares of the company’s stock worth $1,812,000 after buying an additional 190,500 shares in the last quarter. Finally, Eagle Health Investments LP lifted its stake in shares of 4D Molecular Therapeutics by 97.9% in the second quarter. Eagle Health Investments LP now owns 261,423 shares of the company’s stock worth $1,825,000 after buying an additional 129,333 shares in the last quarter. Hedge funds and other institutional investors own 79.94% of the company’s stock.

Insider Activity at 4D Molecular Therapeutics

In related news, insider Scott Bizily sold 6,000 shares of the business’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $22.79, for a total transaction of $136,740.00. Following the transaction, the insider now owns 2,482 shares in the company, valued at $56,564.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other 4D Molecular Therapeutics news, CEO David Kirn sold 10,899 shares of the company’s stock in a transaction dated Thursday, January 19th. The shares were sold at an average price of $20.03, for a total value of $218,306.97. Following the sale, the chief executive officer now owns 1,902,224 shares in the company, valued at $38,101,546.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Scott Bizily sold 6,000 shares of the company’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $22.79, for a total transaction of $136,740.00. Following the completion of the sale, the insider now owns 2,482 shares in the company, valued at approximately $56,564.78. The disclosure for this sale can be found here. Insiders have sold 49,832 shares of company stock worth $1,131,936 over the last 90 days. 11.22% of the stock is owned by company insiders.

4D Molecular Therapeutics Company Profile

(Get Rating)

4D Molecular Therapeutics, Inc, a clinical-stage gene therapy company, develops product candidates using its adeno-associated viruses vectors. It develops a portfolio of gene therapy product candidates focuses in three therapeutic areas: ophthalmology, cardiology, and pulmonology. The company has three product candidates that are in clinical trials: 4D-125 that is in a Phase 1/2 clinical trial for the treatment of X-linked retinitis pigmentosa; 4D-110 that is in a Phase 1/2 clinical trial for the treatment of choroideremia; and 4D-310, which is in a Phase 1/2 clinical trial for the treatment of Fabry disease.

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