4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Receives Consensus Rating of “Buy” from Brokerages

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) has been given an average rating of “Buy” by the ten analysts that are covering the company, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have covered the stock in the last year is $43.63.

A number of analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Friday, August 9th. Chardan Capital restated a “buy” rating and set a $38.00 target price on shares of 4D Molecular Therapeutics in a research report on Wednesday, July 17th. BMO Capital Markets cut their price objective on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, July 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 target price on shares of 4D Molecular Therapeutics in a report on Monday, July 22nd.

Insiders Place Their Bets

In related news, insider Scott Bizily sold 4,248 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $21.36, for a total value of $90,737.28. Following the sale, the insider now directly owns 1,737 shares of the company’s stock, valued at approximately $37,102.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 4D Molecular Therapeutics news, CEO David Kirn sold 12,923 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $22.49, for a total value of $290,638.27. Following the transaction, the chief executive officer now directly owns 1,059,153 shares in the company, valued at approximately $23,820,350.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott Bizily sold 4,248 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $21.36, for a total value of $90,737.28. Following the completion of the sale, the insider now owns 1,737 shares of the company’s stock, valued at approximately $37,102.32. The disclosure for this sale can be found here. Insiders sold 33,847 shares of company stock valued at $777,401 over the last three months. 7.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of FDMT. Allspring Global Investments Holdings LLC lifted its stake in 4D Molecular Therapeutics by 702.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock worth $110,000 after acquiring an additional 3,026 shares during the period. Quest Partners LLC boosted its stake in shares of 4D Molecular Therapeutics by 17,409.1% during the second quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock valued at $121,000 after purchasing an additional 5,745 shares in the last quarter. Entropy Technologies LP purchased a new position in 4D Molecular Therapeutics during the first quarter valued at approximately $239,000. Hsbc Holdings PLC purchased a new stake in 4D Molecular Therapeutics during the second quarter worth $246,000. Finally, American Century Companies Inc. bought a new stake in 4D Molecular Therapeutics during the 2nd quarter valued at $268,000. 99.27% of the stock is owned by institutional investors.

4D Molecular Therapeutics Stock Performance

Shares of NASDAQ:FDMT opened at $15.62 on Thursday. 4D Molecular Therapeutics has a 52-week low of $9.44 and a 52-week high of $36.25. The stock has a market capitalization of $807.60 million, a price-to-earnings ratio of -6.40 and a beta of 2.83. The stock’s 50-day simple moving average is $17.78 and its two-hundred day simple moving average is $23.61.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.09. The business had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $1.90 million. As a group, equities analysts forecast that 4D Molecular Therapeutics will post -2.75 earnings per share for the current fiscal year.

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.