4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Short Interest Update

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) was the target of a large decline in short interest in July. As of July 31st, there was short interest totalling 9,530,000 shares, a decline of 7.8% from the July 15th total of 10,340,000 shares. Based on an average daily trading volume, of 874,700 shares, the days-to-cover ratio is presently 10.9 days.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FDMT shares. BMO Capital Markets cut their price objective on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. Chardan Capital reissued a “buy” rating and issued a $38.00 price target on shares of 4D Molecular Therapeutics in a research note on Wednesday, July 17th. Royal Bank of Canada restated an “outperform” rating and set a $40.00 price objective on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Friday, August 9th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $43.63.

Insider Buying and Selling at 4D Molecular Therapeutics

In other news, insider Scott Bizily sold 1,750 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $27.11, for a total value of $47,442.50. Following the sale, the insider now directly owns 6,781 shares of the company’s stock, valued at $183,832.91. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO David Kirn sold 12,923 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $22.49, for a total transaction 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 document filed with the SEC, which is available through this link. Also, insider Scott Bizily sold 1,750 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $27.11, for a total value of $47,442.50. Following the completion of the transaction, the insider now owns 6,781 shares in the company, valued at $183,832.91. The disclosure for this sale can be found here. Insiders sold 33,847 shares of company stock valued at $777,401 in the last quarter. 7.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of FDMT. Algert Global LLC boosted its stake in shares of 4D Molecular Therapeutics by 20.6% during the second quarter. Algert Global LLC now owns 16,588 shares of the company’s stock valued at $348,000 after purchasing an additional 2,828 shares during the period. The Manufacturers Life Insurance Company raised its holdings in 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 valued at $398,000 after buying an additional 3,850 shares during the last quarter. Squarepoint Ops LLC raised its holdings in 4D Molecular Therapeutics by 652.7% during the 2nd quarter. Squarepoint Ops LLC now owns 110,041 shares of the company’s stock valued at $2,310,000 after buying an additional 95,422 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in 4D Molecular Therapeutics during the 2nd quarter valued at $246,000. Finally, Sofinnova Investments Inc. grew its holdings in 4D Molecular Therapeutics by 36.8% in the 2nd quarter. Sofinnova Investments Inc. now owns 271,155 shares of the company’s stock worth $5,692,000 after acquiring an additional 72,969 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors.

4D Molecular Therapeutics Stock Performance

FDMT stock opened at $15.32 on Wednesday. The firm has a market cap of $792.09 million, a P/E ratio of -6.28 and a beta of 2.83. The firm’s fifty day moving average is $19.50 and its 200 day moving average is $24.61. 4D Molecular Therapeutics has a 52 week low of $9.44 and a 52 week high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.09. The company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $1.90 million. As a group, analysts forecast that 4D Molecular Therapeutics will post -2.98 EPS for the current 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.