4D Molecular Therapeutics (NASDAQ:FDMT) Stock Rating Reaffirmed by Leerink Partners

4D Molecular Therapeutics (NASDAQ:FDMT)‘s stock had its “outperform” rating reissued by Leerink Partners in a note issued to investors on Thursday, Benzinga reports. They currently have a $36.00 price objective on the stock, down from their previous price objective of $40.00. Leerink Partners’ target price would suggest a potential upside of 202.52% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a report on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 price target on shares of 4D Molecular Therapeutics in a research note on Monday, July 22nd. Cantor Fitzgerald reissued an “overweight” rating on shares of 4D Molecular Therapeutics in a research note on Monday, September 9th. BMO Capital Markets lowered their target price on shares of 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. Finally, Chardan Capital reissued a “buy” rating and set a $38.00 price target on shares of 4D Molecular Therapeutics in a research report on Wednesday, July 17th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, 4D Molecular Therapeutics presently has a consensus rating of “Buy” and an average target price of $45.25.

4D Molecular Therapeutics Trading Down 11.9 %

Shares of 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 firm’s 50-day moving average is $16.12 and its 200-day moving average is $22.59. The firm has a market capitalization of $615.27 million, a PE ratio of -4.88 and a beta of 2.80.

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 business had revenue of $0.01 million during the quarter, compared to the consensus estimate of $1.90 million. As a group, equities research analysts anticipate that 4D Molecular Therapeutics will post -2.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Scott Bizily sold 1,750 shares of the business’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 sale, the insider now directly owns 6,781 shares in the company, valued at $183,832.91. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Scott Bizily sold 1,750 shares of 4D Molecular Therapeutics stock in a transaction that occurred on 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 in the company, valued at $183,832.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Kirn sold 12,923 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 1,059,153 shares in the company, valued at approximately $23,820,350.97. The disclosure for this sale can be found here. Insiders have sold a total of 34,347 shares of company stock worth $785,566 over the last ninety days. Company insiders own 7.30% of the company’s stock.

Institutional Trading of 4D Molecular Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of FDMT. Goldman Sachs Group Inc. grew its position in shares of 4D Molecular Therapeutics by 415.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock valued at $16,539,000 after acquiring an additional 658,069 shares during the period. Sectoral Asset Management Inc. bought a new position in 4D Molecular Therapeutics during the fourth quarter worth about $2,887,000. Entropy Technologies LP acquired a new position in 4D Molecular Therapeutics during the first quarter worth approximately $239,000. Kennedy Capital Management LLC bought a new stake in 4D Molecular Therapeutics in the first quarter valued at approximately $4,358,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of 4D Molecular Therapeutics by 702.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock valued at $110,000 after buying an additional 3,026 shares during the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

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.