Chardan Capital Boosts 4D Molecular Therapeutics (NASDAQ:FDMT) Price Target to $39.00

4D Molecular Therapeutics (NASDAQ:FDMT) had its target price upped by Chardan Capital from $38.00 to $39.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also commented on FDMT. HC Wainwright reaffirmed a buy rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a research report on Thursday. Cantor Fitzgerald reaffirmed an overweight rating on shares of 4D Molecular Therapeutics in a research report on Monday, September 9th. Royal Bank of Canada reaffirmed an outperform rating and set a $40.00 price target on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. Leerink Partners reaffirmed an outperform rating and set a $36.00 price target (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research report on Thursday. Finally, BMO Capital Markets dropped their price target on 4D Molecular Therapeutics from $63.00 to $40.00 and set an outperform rating on the stock in a research report on Thursday, July 18th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of Buy and an average target price of $45.25.

4D Molecular Therapeutics Trading Down 11.9 %

NASDAQ:FDMT opened at $11.90 on Thursday. 4D Molecular Therapeutics has a 1-year low of $9.44 and a 1-year high of $36.25. The business’s 50-day moving average price is $16.12 and its two-hundred day moving average price is $22.55. The firm has a market capitalization of $615.27 million, a price-to-earnings ratio of -4.88 and a beta of 2.80.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its earnings results on Thursday, August 8th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.09. The company had revenue of $0.01 million during the quarter, compared to analyst estimates of $1.90 million. Sell-side analysts predict that 4D Molecular Therapeutics will post -2.75 earnings per share for the current year.

Insider Buying and Selling

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 4,248 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $21.36, for a total value of $90,737.28. Following the completion of the transaction, the insider now directly owns 1,737 shares in the company, valued at $37,102.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other 4D Molecular Therapeutics news, CEO David Kirn sold 12,923 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $22.49, for a total value of $290,638.27. Following the completion of the transaction, the chief executive officer now directly owns 1,059,153 shares in the company, valued at $23,820,350.97. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott Bizily sold 4,248 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $21.36, for a total value of $90,737.28. Following the completion of the transaction, the insider now owns 1,737 shares of the company’s stock, valued at $37,102.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,417 shares of company stock worth $486,883. 7.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of 4D Molecular Therapeutics by 10.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 706,000 shares of the company’s stock worth $14,819,000 after acquiring an additional 65,000 shares during the period. Algert Global LLC boosted its stake in shares of 4D Molecular Therapeutics by 20.6% during the 2nd quarter. Algert Global LLC now owns 16,588 shares of the company’s stock worth $348,000 after acquiring an additional 2,828 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of 4D Molecular Therapeutics by 25.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,975 shares of the company’s stock worth $398,000 after acquiring an additional 3,850 shares during the period. Squarepoint Ops LLC boosted its stake in shares of 4D Molecular Therapeutics by 652.7% during the 2nd quarter. Squarepoint Ops LLC now owns 110,041 shares of the company’s stock worth $2,310,000 after acquiring an additional 95,422 shares during the period. Finally, Hsbc Holdings PLC bought a new position in shares of 4D Molecular Therapeutics during the 2nd quarter worth approximately $246,000. 99.27% of the stock is currently owned by institutional investors.

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.