4D Molecular Therapeutics (NASDAQ:FDMT) Shares Up 2.5% Following Analyst Upgrade

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) shares shot up 2.5% on Tuesday after Royal Bank of Canada raised their price target on the stock from $35.00 to $40.00. Royal Bank of Canada currently has an outperform rating on the stock. 4D Molecular Therapeutics traded as high as $26.93 and last traded at $26.91. 69,921 shares traded hands during trading, a decline of 94% from the average session volume of 1,089,076 shares. The stock had previously closed at $26.25.

FDMT has been the subject of several other research reports. Barclays initiated coverage on 4D Molecular Therapeutics in a research report on Monday. They issued an “overweight” rating for the company. Jefferies Financial Group lifted their target price on 4D Molecular Therapeutics from $30.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, April 1st. BMO Capital Markets decreased their price target on 4D Molecular Therapeutics from $70.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday, April 1st. HC Wainwright reaffirmed a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Friday, March 1st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $81.00 price target on shares of 4D Molecular Therapeutics in a research note on Wednesday, February 7th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $44.22.

Insider Activity at 4D Molecular Therapeutics

In related news, insider Scott Bizily sold 1,750 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $27.67, for a total transaction of $48,422.50. Following the completion of the transaction, the insider now owns 1,737 shares in the company, valued at approximately $48,062.79. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other 4D Molecular Therapeutics news, insider Robert Young Kim sold 24,552 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $30.05, for a total value of $737,787.60. Following the completion of the sale, the insider now owns 1,043 shares of the company’s stock, valued at $31,342.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Scott Bizily sold 1,750 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $27.67, for a total value of $48,422.50. Following the sale, the insider now owns 1,737 shares in the company, valued at approximately $48,062.79. The disclosure for this sale can be found here. Insiders have sold a total of 147,888 shares of company stock valued at $4,134,254 over the last quarter. 10.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RA Capital Management L.P. increased its stake in shares of 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 worth $52,998,000 after acquiring an additional 1,093,680 shares during the period. State Street Corp boosted its holdings in 4D Molecular Therapeutics by 65.3% in the first quarter. State Street Corp now owns 2,042,189 shares of the company’s stock valued at $35,105,000 after purchasing an additional 807,031 shares during the last quarter. Goldman Sachs Group Inc. grew its position in 4D Molecular Therapeutics by 415.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock worth $16,539,000 after purchasing an additional 658,069 shares during the period. BlackRock Inc. raised its stake 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 buying an additional 363,695 shares during the last quarter. Finally, Novo Holdings A S lifted its holdings in shares of 4D Molecular Therapeutics by 25.0% in the 4th 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 period. Hedge funds and other institutional investors own 99.27% of the company’s stock.

4D Molecular Therapeutics Trading Down 5.4 %

The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -9.51 and a beta of 2.87. The company has a fifty day moving average price of $29.01 and a 200-day moving average price of $20.09.

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

About 4D Molecular Therapeutics

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.