4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price Up 6.9%

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)’s stock price traded up 6.9% during mid-day trading on Thursday . The stock traded as high as $24.81 and last traded at $24.81. 25,122 shares traded hands during trading, a decline of 97% from the average session volume of 842,608 shares. The stock had previously closed at $23.21.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Barclays assumed coverage on 4D Molecular Therapeutics in a report on Monday, April 15th. They set an “overweight” rating on the stock. Jefferies Financial Group upped 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. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 price target on shares of 4D Molecular Therapeutics in a research note on Wednesday, June 26th. BMO Capital Markets cut their price target on 4D Molecular Therapeutics from $70.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, April 1st. Finally, HC Wainwright restated a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research report on Friday, June 7th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, 4D Molecular Therapeutics has an average rating of “Buy” and a consensus target price of $45.63.

4D Molecular Therapeutics Stock Performance

The stock has a fifty day simple moving average of $23.95 and a 200-day simple moving average of $24.89. The stock has a market cap of $1.37 billion, a P/E ratio of -10.17 and a beta of 2.83.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its earnings results on Thursday, May 9th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.07. The firm had revenue of $0.03 million for the quarter, compared to the consensus estimate of $1.44 million. On average, research analysts anticipate that 4D Molecular Therapeutics, Inc. will post -2.98 earnings per share for the current year.

Insider Transactions at 4D Molecular Therapeutics

In other news, insider Scott Bizily sold 1,750 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $25.45, for a total transaction of $44,537.50. Following the completion of the transaction, the insider now directly owns 1,737 shares in the company, valued at approximately $44,206.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO David Kirn sold 12,930 shares of the firm’s stock in a transaction dated 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 approximately $24,466,434.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott Bizily sold 1,750 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $25.45, for a total transaction of $44,537.50. Following the completion of the sale, the insider now owns 1,737 shares of the company’s stock, valued at $44,206.65. The disclosure for this sale can be found here. Insiders sold a total of 20,678 shares of company stock worth $479,003 in the last three months. Insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in 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 purchasing an additional 658,069 shares during the last quarter. Sectoral Asset Management Inc. acquired a new stake in 4D Molecular Therapeutics during the fourth quarter worth approximately $2,887,000. Wellington Management Group LLP lifted its position in 4D Molecular Therapeutics by 2.2% during the third quarter. Wellington Management Group LLP now owns 172,722 shares of the company’s stock worth $2,199,000 after acquiring an additional 3,638 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in 4D Molecular Therapeutics by 359.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,951 shares of the company’s stock worth $100,000 after acquiring an additional 3,873 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in 4D Molecular Therapeutics by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 268,638 shares of the company’s stock worth $5,443,000 after acquiring an additional 10,130 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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.