4D Molecular Therapeutics (NASDAQ:FDMT) Price Target Increased to $40.00 by Analysts at Royal Bank of Canada

4D Molecular Therapeutics (NASDAQ:FDMT) had its price objective raised by Royal Bank of Canada from $35.00 to $40.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an outperform rating on the stock.

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

4D Molecular Therapeutics Stock Down 0.4 %

FDMT opened at $26.25 on Monday. 4D Molecular Therapeutics has a 52-week low of $9.44 and a 52-week high of $36.25. The firm’s 50-day moving average price is $29.20 and its 200-day moving average price is $19.96. The company has a market cap of $1.34 billion, a P/E ratio of -9.87 and a beta of 2.87.

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

Insider Activity 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 completion of the transaction, the chief executive officer now directly owns 1,151,154 shares of the company’s stock, valued at $21,192,745.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Scott Bizily sold 8,153 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $31.78, for a total value of $259,102.34. Following the completion of the transaction, the insider now directly owns 1,737 shares of the company’s stock, valued at $55,201.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Kirn sold 5,696 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $21,192,745.14. The disclosure for this sale can be found here. Insiders sold 147,888 shares of company stock valued at $4,134,254 over the last three months. 10.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. RA Capital Management L.P. lifted its stake in 4D Molecular Therapeutics by 35.6% in the third quarter. RA Capital Management L.P. now owns 4,163,211 shares of the company’s stock valued at $52,998,000 after buying an additional 1,093,680 shares during the last quarter. BlackRock Inc. lifted its stake in 4D Molecular Therapeutics by 14.3% in the second quarter. BlackRock Inc. now owns 2,914,430 shares of the company’s stock valued at $52,664,000 after buying an additional 363,695 shares during the last quarter. State Street Corp lifted its stake in 4D Molecular Therapeutics by 0.4% in the second quarter. State Street Corp now owns 2,050,430 shares of the company’s stock valued at $37,051,000 after buying an additional 8,241 shares during the last quarter. Novo Holdings A S lifted its stake in 4D Molecular Therapeutics by 25.0% in the fourth quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock valued at $30,390,000 after buying an additional 300,000 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in 4D Molecular Therapeutics by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,290,941 shares of the company’s stock valued at $19,519,000 after buying an additional 7,858 shares during the last quarter. Hedge funds and other institutional investors 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.