4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price Down 5.4%

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) fell 5.4% during mid-day trading on Monday . The stock traded as low as $17.31 and last traded at $17.36. 78,793 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 954,341 shares. The stock had previously closed at $18.35.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FDMT. Jefferies Financial Group boosted their price objective on 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a “buy” rating in a report on Monday, April 1st. Chardan Capital reaffirmed a “buy” rating and issued a $38.00 price target on shares of 4D Molecular Therapeutics in a report on Wednesday, July 17th. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a report on Friday, June 7th. BMO Capital Markets reduced their price target on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. Finally, Barclays began coverage on 4D Molecular Therapeutics in a report on Monday, April 15th. They issued an “overweight” rating for the company. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $43.63.

4D Molecular Therapeutics Stock Down 6.7 %

The business has a 50-day moving average price of $22.60 and a 200-day moving average price of $24.92. The firm has a market capitalization of $885.10 million, a PE ratio of -6.96 and a beta of 2.84.

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

Insider Buying and Selling

In related news, CEO David Kirn sold 12,930 shares of the 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO David Kirn sold 12,930 shares of the 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott Bizily sold 4,248 shares of the company’s stock in a transaction 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 transaction, the insider now owns 1,737 shares in the company, valued at $37,102.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,597 shares of company stock worth $821,939. Company insiders own 7.30% of the company’s stock.

Institutional Trading of 4D Molecular Therapeutics

Hedge funds have recently modified their holdings of the stock. Bfsg LLC acquired a new stake in shares of 4D Molecular Therapeutics during the fourth quarter worth about $30,000. Allspring Global Investments Holdings LLC increased its position in shares of 4D Molecular Therapeutics by 702.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock worth $110,000 after purchasing an additional 3,026 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of 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 purchasing an additional 3,873 shares in the last quarter. Daiwa Securities Group Inc. increased its position in 4D Molecular Therapeutics by 23.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,872 shares of the company’s stock valued at $119,000 after acquiring an additional 1,110 shares during the period. Finally, Entropy Technologies LP acquired a new position in 4D Molecular Therapeutics in the 1st quarter valued at about $239,000. 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.