4D Molecular Therapeutics (NASDAQ:FDMT) Shares Gap Down to $35.87

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) gapped down before the market opened on Thursday . The stock had previously closed at $35.87, but opened at $34.16. 4D Molecular Therapeutics shares last traded at $33.02, with a volume of 125,590 shares traded.

Analysts Set New Price Targets

FDMT has been the subject of several recent analyst reports. The Goldman Sachs Group reissued a “buy” rating and set a $81.00 price objective on shares of 4D Molecular Therapeutics in a report on Wednesday, February 7th. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research note on Friday, March 1st. BMO Capital Markets upped their target price on 4D Molecular Therapeutics from $50.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, Royal Bank of Canada upped their target price on 4D Molecular Therapeutics from $25.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.44.

4D Molecular Therapeutics Stock Down 13.9 %

The business has a fifty day simple moving average of $26.76 and a 200-day simple moving average of $18.67. The firm has a market cap of $1.54 billion, a P/E ratio of -12.41 and a beta of 2.86.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.09). The firm had revenue of ($0.02) million during the quarter, compared to the consensus estimate of $4.67 million. 4D Molecular Therapeutics had a negative return on equity of 34.14% and a negative net margin of 436.30%. On average, sell-side analysts anticipate that 4D Molecular Therapeutics, Inc. will post -2.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Global Investors Lp Viking sold 540,000 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $19.53, for a total value of $10,546,200.00. Following the sale, the insider now directly owns 4,247,914 shares of the company’s stock, valued at $82,961,760.42. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, major shareholder Global Investors Lp Viking sold 540,000 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $19.53, for a total value of $10,546,200.00. Following the sale, the insider now directly owns 4,247,914 shares of the company’s stock, valued at $82,961,760.42. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Scott Bizily sold 1,750 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $31.27, for a total value of $54,722.50. Following the completion of the sale, the insider now directly owns 1,737 shares in the company, valued at $54,315.99. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 714,634 shares of company stock worth $15,044,230. 10.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Several institutional investors have recently modified their holdings of FDMT. Bfsg LLC purchased a new stake in shares of 4D Molecular Therapeutics during the fourth quarter valued at $30,000. International Assets Investment Management LLC purchased a new stake in shares of 4D Molecular Therapeutics during the third quarter valued at $36,000. US Bancorp DE boosted its position in shares of 4D Molecular Therapeutics by 580.7% during the fourth quarter. US Bancorp DE now owns 1,797 shares of the company’s stock valued at $36,000 after buying an additional 1,533 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of 4D Molecular Therapeutics by 44.2% during the second quarter. Lazard Asset Management LLC now owns 2,190 shares of the company’s stock valued at $38,000 after buying an additional 671 shares during the last quarter. Finally, Ensign Peak Advisors Inc boosted its position in shares of 4D Molecular Therapeutics by 167.9% during the third quarter. Ensign Peak Advisors Inc now owns 7,180 shares of the company’s stock valued at $58,000 after buying an additional 4,500 shares during the last quarter. 99.27% of the stock is owned by hedge funds and other 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.