4D Molecular Therapeutics (NASDAQ:FDMT) Price Target Lowered to $40.00 at BMO Capital Markets

4D Molecular Therapeutics (NASDAQ:FDMT) had its target price dropped by analysts at BMO Capital Markets from $63.00 to $40.00 in a report released on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 135.71% from the stock’s previous close.

FDMT has been the subject of a number of other reports. Jefferies Financial Group raised their price target on 4D Molecular Therapeutics from $30.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. HC Wainwright reaffirmed a “buy” rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Friday, June 7th. Chardan Capital reaffirmed a “buy” rating and set a $38.00 price target on shares of 4D Molecular Therapeutics in a research note on Wednesday. Barclays assumed coverage on 4D Molecular Therapeutics in a research note on Monday, April 15th. They set an “overweight” rating for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price target on shares of 4D Molecular Therapeutics in a research note on Wednesday, June 26th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $43.63.

4D Molecular Therapeutics Trading Down 6.8 %

NASDAQ FDMT traded down $1.23 during trading on Thursday, reaching $16.97. 186,419 shares of the company’s stock were exchanged, compared to its average volume of 885,660. 4D Molecular Therapeutics has a fifty-two week low of $9.44 and a fifty-two week high of $36.25. The firm has a market capitalization of $877.35 million, a PE ratio of -6.95 and a beta of 2.83. The company’s fifty day simple moving average is $23.79 and its 200-day simple moving average is $25.03.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.07. The business had revenue of $0.03 million for the quarter, compared to analyst estimates of $1.44 million. Equities analysts forecast that 4D Molecular Therapeutics will post -2.98 EPS for the current fiscal year.

Insider Activity at 4D Molecular Therapeutics

In related news, CEO David Kirn sold 12,930 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $23.10, for a total value of $298,683.00. Following the transaction, the chief executive officer now directly owns 1,059,153 shares of the company’s stock, valued at approximately $24,466,434.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 4D Molecular Therapeutics news, insider Scott Bizily sold 4,248 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $21.36, for a total value of $90,737.28. Following the sale, the insider now owns 1,737 shares of the company’s stock, valued at approximately $37,102.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 approximately $24,466,434.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,847 shares of company stock valued at $774,496. Corporate 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 added to or reduced their stakes in FDMT. Wellington Management Group LLP grew its holdings in shares of 4D Molecular Therapeutics by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 172,722 shares of the company’s stock worth $2,199,000 after purchasing an additional 3,638 shares in the last quarter. SG Americas Securities LLC boosted its stake in 4D Molecular Therapeutics by 119.5% in the 4th quarter. SG Americas Securities LLC now owns 26,899 shares of the company’s stock valued at $545,000 after buying an additional 14,645 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in 4D Molecular Therapeutics by 359.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,951 shares of the company’s stock valued at $100,000 after purchasing an additional 3,873 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in 4D Molecular Therapeutics in the 4th quarter valued at $966,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position 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 valued at $438,000 after purchasing an additional 2,700 shares during the last quarter. Institutional investors and hedge funds 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.