4D Molecular Therapeutics (NASDAQ:FDMT) Cut to Neutral at Cantor Fitzgerald

Cantor Fitzgerald lowered shares of 4D Molecular Therapeutics (NASDAQ:FDMT) from an overweight rating to a neutral rating in a report issued on Monday, Marketbeat reports. Cantor Fitzgerald also issued estimates for 4D Molecular Therapeutics’ FY2024 earnings at ($2.68) EPS.

Other equities analysts have also recently issued research reports about the company. Leerink Partners reissued an outperform rating and set a $36.00 price target (down previously from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. Royal Bank of Canada reissued an outperform rating and set a $40.00 target price on shares of 4D Molecular Therapeutics in a research note on Monday, July 22nd. BMO Capital Markets decreased their price target on shares of 4D Molecular Therapeutics from $63.00 to $40.00 and set an outperform rating on the stock in a report on Thursday, July 18th. HC Wainwright reissued a buy rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. Finally, Chardan Capital raised their target price on shares of 4D Molecular Therapeutics from $38.00 to $39.00 and gave the company a buy rating in a research report on Thursday, September 19th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $45.25.

4D Molecular Therapeutics Stock Down 1.8 %

Shares of 4D Molecular Therapeutics stock opened at $11.28 on Monday. The firm’s 50-day moving average price is $15.37 and its two-hundred day moving average price is $22.18. The company has a market capitalization of $586.22 million, a price-to-earnings ratio of -4.62 and a beta of 2.80. 4D Molecular Therapeutics has a 12-month low of $9.44 and a 12-month high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.09. The firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $1.90 million. On average, sell-side analysts expect that 4D Molecular Therapeutics will post -2.75 earnings per share for the current year.

Insider Activity

In related news, insider Scott Bizily sold 1,750 shares of the business’s stock in a transaction 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 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 accessible through the SEC website. In other news, insider Scott Bizily sold 1,750 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $27.11, for a total transaction of $47,442.50. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Kirn sold 12,923 shares of 4D Molecular Therapeutics 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,417 shares of company stock valued at $486,883. Insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Institutional investors have recently modified their holdings of the company. Redmile Group LLC acquired a new position in 4D Molecular Therapeutics in the first quarter valued at $40,189,000. RA Capital Management L.P. lifted its stake in shares of 4D Molecular Therapeutics by 21.3% in the 1st quarter. RA Capital Management L.P. now owns 5,051,511 shares of the company’s stock valued at $160,941,000 after purchasing an additional 888,300 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of 4D Molecular Therapeutics by 415.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock valued at $16,539,000 after purchasing an additional 658,069 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in 4D Molecular Therapeutics by 1,076.1% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 641,000 shares of the company’s stock worth $20,422,000 after purchasing an additional 586,500 shares during the period. Finally, Vanguard Group Inc. increased its holdings in 4D Molecular Therapeutics by 25.3% in the first quarter. Vanguard Group Inc. now owns 2,339,943 shares of the company’s stock worth $74,551,000 after purchasing an additional 473,094 shares in the last quarter. 99.27% of the stock is owned by 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.