4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMTFree Report) by 16.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,711 shares of the company’s stock after buying an additional 19,434 shares during the period. Bank of New York Mellon Corp owned 0.32% of 4D Molecular Therapeutics worth $1,728,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in FDMT. Swiss National Bank grew its stake in shares of 4D Molecular Therapeutics by 6.9% in the 1st quarter. Swiss National Bank now owns 57,000 shares of the company’s stock valued at $862,000 after buying an additional 3,700 shares during the period. JPMorgan Chase & Co. lifted its holdings in 4D Molecular Therapeutics by 29.7% during the 1st quarter. JPMorgan Chase & Co. now owns 367,545 shares of the company’s stock worth $5,557,000 after buying an additional 84,158 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in 4D Molecular Therapeutics by 55.4% during the 1st quarter. MetLife Investment Management LLC now owns 17,379 shares of the company’s stock worth $263,000 after buying an additional 6,197 shares in the last quarter. Rhumbline Advisers lifted its holdings in 4D Molecular Therapeutics by 14.3% during the 1st quarter. Rhumbline Advisers now owns 35,097 shares of the company’s stock worth $531,000 after buying an additional 4,382 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of 4D Molecular Therapeutics by 2.0% in the 1st quarter. BlackRock Inc. now owns 2,130,226 shares of the company’s stock valued at $32,208,000 after purchasing an additional 42,544 shares in the last quarter.

4D Molecular Therapeutics Stock Performance

Shares of 4D Molecular Therapeutics stock opened at $33.21 on Wednesday. 4D Molecular Therapeutics, Inc. has a 1 year low of $9.44 and a 1 year high of $35.61. The company has a market capitalization of $1.42 billion, a P/E ratio of -12.16 and a beta of 2.63. The company’s fifty day moving average is $18.49 and its two-hundred day moving average is $15.53.

4D Molecular Therapeutics (NASDAQ:FDMTGet Free Report) last released its earnings results on Thursday, November 9th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.67) by $0.43. 4D Molecular Therapeutics had a negative net margin of 436.30% and a negative return on equity of 34.73%. The company had revenue of $20.20 million during the quarter, compared to analysts’ expectations of $6.41 million. As a group, equities analysts expect that 4D Molecular Therapeutics, Inc. will post -2.54 earnings per share for the current year.

Insider Transactions at 4D Molecular Therapeutics

In other news, 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 completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, 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 completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Global Investors Lp Viking sold 540,000 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $19.53, for a total transaction of $10,546,200.00. Following the completion of the sale, the insider now owns 4,247,914 shares of the company’s stock, valued at approximately $82,961,760.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 586,428 shares of company stock worth $11,478,330. Company insiders own 10.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. BMO Capital Markets increased their target price on shares of 4D Molecular Therapeutics from $50.00 to $70.00 and gave the company an “outperform” rating in a research report on Monday. Leerink Partnrs raised shares of 4D Molecular Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Wednesday, October 18th. SVB Leerink raised shares of 4D Molecular Therapeutics from a “market perform” rating to an “outperform” rating and set a $24.00 target price on the stock in a research report on Wednesday, October 18th. Cantor Fitzgerald started coverage on shares of 4D Molecular Therapeutics in a research report on Tuesday, October 24th. They issued an “overweight” rating and a $32.00 target price on the stock. Finally, Royal Bank of Canada raised their price objective on shares of 4D Molecular Therapeutics from $25.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.25.

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About 4D Molecular Therapeutics

(Free Report)

4D Molecular Therapeutics, Inc, a clinical-stage biotherapeutics company, develops genetic medicines using its therapeutic vector evolution platform. It develops a portfolio of genetic medicine product candidates focuses in three therapeutic areas: ophthalmology, cardiology, and pulmonology. The company has product candidates that are in clinical trials, such as 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 cardiomyopathy.

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Institutional Ownership by Quarter for 4D Molecular Therapeutics (NASDAQ:FDMT)

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