4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Receives $44.22 Average PT from Brokerages

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) has received an average rating of “Buy” from the ten analysts that are currently covering the stock, MarketBeat reports. Ten research analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have issued a report on the stock in the last year is $44.22.

FDMT has been the subject of several analyst reports. BMO Capital Markets reduced their price objective 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. Barclays began coverage on 4D Molecular Therapeutics in a report on Monday, April 15th. They issued an “overweight” rating on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $81.00 price target on shares of 4D Molecular Therapeutics in a report on Wednesday, February 7th. HC Wainwright restated a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research report on Friday, March 1st. Finally, Royal Bank of Canada raised their target price on shares of 4D Molecular Therapeutics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th.

4D Molecular Therapeutics Stock Performance

FDMT opened at $23.25 on Friday. 4D Molecular Therapeutics has a one year low of $9.44 and a one year high of $36.25. The stock has a market capitalization of $1.19 billion, a P/E ratio of -8.74 and a beta of 2.87. The business’s 50-day simple moving average is $28.60 and its 200-day simple moving average is $20.78.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings data 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 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. On average, equities research analysts forecast that 4D Molecular Therapeutics will post -3.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other 4D Molecular Therapeutics news, CEO David Kirn sold 92,001 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $27.13, for a total transaction of $2,495,987.13. Following the completion of the sale, the chief executive officer now directly owns 1,059,153 shares in the company, valued at $28,734,820.89. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Scott Bizily sold 1,750 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $25.74, for a total transaction of $45,045.00. Following the completion of the sale, the insider now directly owns 1,737 shares of the company’s stock, valued at approximately $44,710.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David Kirn sold 92,001 shares of 4D Molecular Therapeutics stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $27.13, for a total value of $2,495,987.13. Following the sale, the chief executive officer now directly owns 1,059,153 shares in the company, valued at $28,734,820.89. The disclosure for this sale can be found here. Insiders sold 143,942 shares of company stock worth $4,074,435 over the last three months. 10.70% of the stock is owned by insiders.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in shares of 4D Molecular Therapeutics by 16.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 135,711 shares of the company’s stock valued at $1,728,000 after acquiring an additional 19,434 shares in the last quarter. Trexquant Investment LP bought a new stake in 4D Molecular Therapeutics in the third quarter worth about $566,000. Aigen Investment Management LP acquired a new position in shares of 4D Molecular Therapeutics in the 3rd quarter worth approximately $216,000. Wellington Management Group LLP grew its position in 4D Molecular Therapeutics by 2.2% in the third quarter. Wellington Management Group LLP now owns 172,722 shares of the company’s stock worth $2,199,000 after buying an additional 3,638 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of 4D Molecular Therapeutics by 359.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,951 shares of the company’s stock worth $100,000 after acquiring an additional 3,873 shares during the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

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.