4D Molecular Therapeutics’ (FDMT) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a report released on Friday morning, Benzinga reports. HC Wainwright currently has a $36.00 price objective on the stock.

FDMT has been the subject of several other reports. BMO Capital Markets cut their target price on shares of 4D Molecular Therapeutics from $63.00 to $40.00 and set an outperform rating for the company in a research note on Thursday, July 18th. Barclays started coverage on shares of 4D Molecular Therapeutics in a research note on Monday, April 15th. They set an overweight rating for the company. Royal Bank of Canada reissued an outperform rating and set a $40.00 target price on shares of 4D Molecular Therapeutics in a research note on Monday, July 22nd. Finally, Chardan Capital restated a buy rating and issued a $38.00 price target on shares of 4D Molecular Therapeutics in a research report on Wednesday, July 17th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of Buy and a consensus price target of $43.63.

4D Molecular Therapeutics Price Performance

Shares of 4D Molecular Therapeutics stock traded up $0.07 on Friday, hitting $14.80. The company had a trading volume of 463,577 shares, compared to its average volume of 936,745. 4D Molecular Therapeutics has a 52 week low of $9.44 and a 52 week high of $36.25. The company has a market cap of $765.20 million, a PE ratio of -6.07 and a beta of 2.83. The business has a 50-day simple moving average of $20.79 and a 200-day simple moving average of $24.73.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its earnings results on Thursday, May 9th. The company reported ($0.66) EPS for the quarter, beating the consensus estimate 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. On average, equities research analysts predict that 4D Molecular Therapeutics will post -2.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 1,750 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $27.11, for a total value of $47,442.50. Following the completion of the sale, the insider now owns 6,781 shares in the company, valued at approximately $183,832.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other 4D Molecular Therapeutics news, CEO David Kirn sold 12,923 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $22.49, for a total value of $290,638.27. Following the completion of the sale, the chief executive officer now owns 1,059,153 shares in the company, valued at approximately $23,820,350.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott Bizily sold 1,750 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $27.11, for a total transaction of $47,442.50. Following the completion of the sale, the insider now owns 6,781 shares of the company’s stock, valued at approximately $183,832.91. The disclosure for this sale can be found here. Insiders sold a total of 35,597 shares of company stock worth $821,939 in the last quarter. 7.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Daiwa Securities Group Inc. increased its stake in shares of 4D Molecular Therapeutics by 23.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 5,872 shares of the company’s stock worth $119,000 after purchasing an additional 1,110 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake 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 acquired a new position in shares of 4D Molecular Therapeutics during the 4th quarter worth $30,000. Principal Financial Group Inc. increased its stake in shares of 4D Molecular Therapeutics by 9.6% during the 2nd quarter. Principal Financial Group Inc. now owns 21,034 shares of the company’s stock worth $442,000 after purchasing an additional 1,849 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 4D Molecular Therapeutics by 14.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,612 shares of the company’s stock worth $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.