4D Molecular Therapeutics (NASDAQ:FDMT) Shares Gap Down Following Insider Selling

4D Molecular Therapeutics, Inc. (NASDAQ:FDMTGet Free Report)’s stock price gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $28.24, but opened at $27.50. 4D Molecular Therapeutics shares last traded at $27.25, with a volume of 374,821 shares trading hands.

Specifically, major shareholder Global Investors Lp Viking sold 540,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were 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 directly owns 4,247,914 shares in the company, valued at $82,961,760.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 shares were sold at an average price of $30.05, for a total value of $737,787.60. Following the completion of the transaction, the insider now owns 1,043 shares of the company’s stock, valued at approximately $31,342.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Global Investors Lp Viking sold 540,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly 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. Insiders have sold 610,980 shares of company stock worth $12,216,118 over the last quarter. 10.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FDMT shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $81.00 target price on shares of 4D Molecular Therapeutics in a research report on Wednesday. Cantor Fitzgerald assumed 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 for the company. Royal Bank of Canada raised 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. Leerink Partnrs upgraded shares of 4D Molecular Therapeutics from a “market perform” rating to an “outperform” rating in a report on Wednesday, October 18th. Finally, BMO Capital Markets raised their price target on shares of 4D Molecular Therapeutics from $50.00 to $70.00 and gave the company an “outperform” rating in a report on Monday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $39.44.

Get Our Latest Stock Report on 4D Molecular Therapeutics

4D Molecular Therapeutics Trading Down 4.7 %

The stock has a market cap of $1.15 billion, a P/E ratio of -9.85 and a beta of 2.63. The firm’s fifty day moving average is $19.10 and its 200 day moving average is $15.70.

4D Molecular Therapeutics (NASDAQ:FDMTGet Free Report) last posted its quarterly earnings results on Thursday, November 9th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.67) by $0.43. The company had revenue of $20.20 million for the quarter, compared to analyst estimates of $6.41 million. 4D Molecular Therapeutics had a negative net margin of 436.30% and a negative return on equity of 34.73%. Research analysts forecast that 4D Molecular Therapeutics, Inc. will post -2.52 earnings per share for the current fiscal year.

Institutional Trading of 4D Molecular Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of FDMT. RA Capital Management L.P. acquired a new stake in 4D Molecular Therapeutics in the 2nd quarter worth $55,466,000. VR Adviser LLC acquired a new stake in shares of 4D Molecular Therapeutics during the 2nd quarter valued at about $54,210,000. 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 acquiring an additional 807,031 shares in the last quarter. Deep Track Capital LP boosted its position in shares of 4D Molecular Therapeutics by 21.9% during the 2nd quarter. Deep Track Capital LP now owns 2,778,107 shares of the company’s stock valued at $50,200,000 after acquiring an additional 500,000 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of 4D Molecular Therapeutics by 14.3% during the 2nd quarter. BlackRock Inc. now owns 2,914,430 shares of the company’s stock valued at $52,664,000 after acquiring an additional 363,695 shares in the last quarter.

4D Molecular Therapeutics Company Profile

(Get 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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