4D Molecular Therapeutics (NASDAQ:FDMT) Rating Reiterated by HC Wainwright

4D Molecular Therapeutics (NASDAQ:FDMT)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued on Thursday, Benzinga reports. They currently have a $36.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 202.52% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada restated an “outperform” rating and issued a $40.00 price target on shares of 4D Molecular Therapeutics in a report on Monday, July 22nd. Chardan Capital restated a “buy” rating and issued a $38.00 price target on shares of 4D Molecular Therapeutics in a report on Wednesday, July 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of 4D Molecular Therapeutics in a research note on Monday, September 9th. Finally, BMO Capital Markets reduced their target price on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, July 18th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $45.25.

4D Molecular Therapeutics Trading Down 11.9 %

Shares of FDMT stock opened at $11.90 on Thursday. 4D Molecular Therapeutics has a twelve month low of $9.44 and a twelve month high of $36.25. The firm has a 50-day moving average price of $16.12 and a 200 day moving average price of $22.59. The company 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 posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.63) 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 analyst estimates of $1.90 million. As a group, research analysts predict that 4D Molecular Therapeutics will post -2.75 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO David Kirn sold 12,930 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $23.10, for a total transaction of $298,683.00. Following the transaction, the chief executive officer now directly owns 1,059,153 shares of the company’s stock, valued at $24,466,434.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO David Kirn sold 12,930 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $23.10, for a total transaction of $298,683.00. Following the sale, the chief executive officer now directly owns 1,059,153 shares of the company’s stock, valued at $24,466,434.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott Bizily sold 1,996 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $25.00, for a total value of $49,900.00. Following the completion of the transaction, the insider now owns 6,781 shares of the company’s stock, valued at approximately $169,525. The disclosure for this sale can be found here. Insiders have sold 34,347 shares of company stock valued at $785,566 over the last three months. Company insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Large investors have recently made changes to their positions in the company. Redmile Group LLC purchased a new position in 4D Molecular Therapeutics during the 1st quarter worth approximately $40,189,000. RA Capital Management L.P. grew its holdings in shares of 4D Molecular Therapeutics by 21.3% during the first quarter. RA Capital Management L.P. now owns 5,051,511 shares of the company’s stock valued at $160,941,000 after buying an additional 888,300 shares in the last quarter. Goldman Sachs Group Inc. raised its position in 4D Molecular Therapeutics by 415.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock valued at $16,539,000 after buying an additional 658,069 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in 4D Molecular Therapeutics by 1,076.1% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 641,000 shares of the company’s stock worth $20,422,000 after acquiring an additional 586,500 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in 4D Molecular Therapeutics by 25.3% in the 1st quarter. Vanguard Group Inc. now owns 2,339,943 shares of the company’s stock worth $74,551,000 after acquiring an additional 473,094 shares in the last quarter. Institutional investors and hedge funds 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.