Belpointe Asset Management LLC Makes New $37,000 Investment in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Posted by MarketBeat News on May 26th, 2023

Belpointe Asset Management LLC bought a new stake in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT – Get Rating) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,671 shares of the company’s stock, valued at approximately $37,000.

A number of other large investors have also recently bought and sold shares of FDMT. Walleye Capital LLC purchased a new position in 4D Molecular Therapeutics during the 2nd quarter worth $196,000. Cubist Systematic Strategies LLC bought a new position in 4D Molecular Therapeutics during the second quarter worth about $165,000. Price T Rowe Associates Inc. MD grew its stake in 4D Molecular Therapeutics by 14.7% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 18,108 shares of the company’s stock valued at $146,000 after buying an additional 2,318 shares in the last quarter. Ensign Peak Advisors Inc boosted its holdings in shares of 4D Molecular Therapeutics by 167.9% in the third quarter. Ensign Peak Advisors Inc now owns 7,180 shares of the company’s stock worth $58,000 after acquiring an additional 4,500 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in 4D Molecular Therapeutics during the 4th quarter valued at about $248,000. 79.94% of the stock is currently owned by institutional investors and hedge funds.

4D Molecular Therapeutics Stock Performance

Shares of NASDAQ FDMT opened at $17.42 on Friday. The firm’s 50 day moving average price is $17.64 and its 200-day moving average price is $19.35. The company has a market cap of $579.39 million, a PE ratio of -5.15 and a beta of 2.51. 4D Molecular Therapeutics, Inc. has a 52-week low of $5.32 and a 52-week high of $26.49.

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4D Molecular Therapeutics (NASDAQ:FDMT – Get Rating) last issued its earnings results on Wednesday, March 15th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.09). The firm had revenue of $1.25 million during the quarter, compared to the consensus estimate of $4.97 million. 4D Molecular Therapeutics had a negative return on equity of 45.11% and a negative net margin of 4,976.80%. On average, analysts forecast that 4D Molecular Therapeutics, Inc. will post -3.17 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Global Investors Lp Viking acquired 850,000 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was purchased at an average cost of $16.00 per share, with a total value of $13,600,000.00. Following the completion of the acquisition, the insider now directly owns 4,787,914 shares of the company’s stock, valued at $76,606,624. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 4D Molecular Therapeutics news, major shareholder Global Investors Lp Viking bought 850,000 shares of 4D Molecular Therapeutics stock in a transaction on Tuesday, May 9th. The stock was acquired at an average cost of $16.00 per share, with a total value of $13,600,000.00. Following the completion of the acquisition, the insider now owns 4,787,914 shares in the company, valued at $76,606,624. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott Bizily sold 2,248 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $19.30, for a total transaction of $43,386.40. Following the completion of the transaction, the insider now owns 2,109 shares of the company’s stock, valued at $40,703.70. The disclosure for this sale can be found here. Insiders sold 10,998 shares of company stock valued at $218,636 over the last three months. Insiders own 10.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FDMT. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research note on Thursday, March 16th. 92 Resources restated a “reiterates” rating on shares of 4D Molecular Therapeutics in a research report on Thursday, May 11th. SVB Securities decreased their price objective on shares of 4D Molecular Therapeutics from $14.00 to $13.00 and set a “market perform” rating on the stock in a research report on Thursday, April 13th. BMO Capital Markets started coverage on shares of 4D Molecular Therapeutics in a research note on Monday, January 30th. They set an “outperform” rating and a $50.00 target price on the stock. Finally, SVB Leerink cut their target price on shares of 4D Molecular Therapeutics from $15.00 to $14.00 and set a “market perform” rating on the stock in a research note on Monday, February 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.13.

About 4D Molecular Therapeutics

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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.