4D Molecular Therapeutics’ (FDMT) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research note published on Wednesday, Benzinga reports. Royal Bank of Canada currently has a $40.00 price objective on the stock.

Several other research firms have also recently issued reports on FDMT. HC Wainwright reissued a buy rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research report on Friday, June 7th. Barclays started coverage on 4D Molecular Therapeutics in a report on Monday, April 15th. They issued an overweight rating for the company. Jefferies Financial Group raised their price objective on 4D Molecular Therapeutics from $30.00 to $58.00 and gave the stock a buy rating in a report on Monday, April 1st. Finally, BMO Capital Markets lowered their target price on 4D Molecular Therapeutics from $70.00 to $63.00 and set an outperform rating for the company in a report on Monday, April 1st. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, 4D Molecular Therapeutics has a consensus rating of Buy and a consensus target price of $45.63.

4D Molecular Therapeutics Stock Performance

Shares of NASDAQ FDMT opened at $20.99 on Wednesday. 4D Molecular Therapeutics has a fifty-two week low of $9.44 and a fifty-two week high of $36.25. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -8.60 and a beta of 2.89. The business’s 50 day moving average price is $24.42 and its 200-day moving average price is $24.66.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its earnings results on Thursday, May 9th. The company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.07. 4D Molecular Therapeutics had a negative return on equity of 26.75% and a negative net margin of 436.30%. The business had revenue of $0.03 million for the quarter, compared to analyst estimates of $1.44 million. Sell-side analysts predict that 4D Molecular Therapeutics will post -2.98 earnings per share for the current year.

Insider Transactions at 4D Molecular Therapeutics

In other 4D Molecular Therapeutics news, CEO David Kirn sold 12,930 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $23.10, for a total value of $298,683.00. Following the completion of the sale, the chief executive officer now directly owns 1,059,153 shares in the company, valued at $24,466,434.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other 4D Molecular Therapeutics news, insider Scott Bizily sold 1,750 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $25.74, for a total value of $45,045.00. Following the completion of the transaction, the insider now directly owns 1,737 shares of the company’s stock, valued at $44,710.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Kirn sold 12,930 shares of the stock in a transaction dated 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 in the company, valued at $24,466,434.30. The disclosure for this sale can be found here. Insiders have sold a total of 24,583 shares of company stock valued at $647,368 in the last 90 days. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Daiwa Securities Group Inc. raised its position in 4D Molecular Therapeutics by 23.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 5,872 shares of the company’s stock worth $119,000 after acquiring an additional 1,110 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of 4D Molecular Therapeutics by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,952 shares of the company’s stock worth $764,000 after purchasing an additional 1,356 shares during the last quarter. Bfsg LLC purchased a new position in 4D Molecular Therapeutics in the 4th quarter valued at about $30,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 4D Molecular Therapeutics by 14.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,612 shares of the company’s stock worth $438,000 after buying an additional 2,700 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in 4D Molecular Therapeutics by 702.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock worth $110,000 after buying an additional 3,026 shares in the last quarter. Hedge funds and other institutional investors 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.