Cantor Fitzgerald Lowers 4D Molecular Therapeutics (NASDAQ:FDMT) to Neutral

Cantor Fitzgerald cut shares of 4D Molecular Therapeutics (NASDAQ:FDMT) from an overweight rating to a neutral rating in a research note published on Monday morning, MarketBeat Ratings reports. Cantor Fitzgerald also issued estimates for 4D Molecular Therapeutics’ FY2024 earnings at ($2.68) EPS.

Other analysts have also recently issued research reports about the company. BMO Capital Markets cut their target price 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. Leerink Partners reiterated an outperform rating and set a $36.00 price objective (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th. Royal Bank of Canada reaffirmed an outperform rating and set a $40.00 target price on shares of 4D Molecular Therapeutics in a research note on Monday, July 22nd. HC Wainwright reiterated a buy rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. Finally, Chardan Capital lifted their target price on 4D Molecular Therapeutics from $38.00 to $39.00 and gave the stock a buy rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $45.25.

4D Molecular Therapeutics Trading Down 2.8 %

NASDAQ FDMT opened at $10.96 on Monday. 4D Molecular Therapeutics has a 12 month low of $9.44 and a 12 month high of $36.25. The stock has a market cap of $569.59 million, a price-to-earnings ratio of -4.49 and a beta of 2.80. The company’s 50 day moving average is $15.28 and its two-hundred day moving average is $22.11.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.09. The firm had revenue of $0.01 million for the quarter, compared to the consensus estimate of $1.90 million. Sell-side analysts forecast that 4D Molecular Therapeutics will post -2.75 EPS for the current year.

Insider Activity

In other news, CEO David Kirn sold 12,923 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $22.49, for a total transaction of $290,638.27. Following the transaction, the chief executive officer now owns 1,059,153 shares of the company’s stock, valued at approximately $23,820,350.97. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other 4D Molecular Therapeutics news, insider Scott Bizily sold 1,996 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $25.00, for a total value of $49,900.00. Following the completion of the sale, the insider now owns 6,781 shares of the company’s stock, valued at $169,525. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David Kirn sold 12,923 shares of the company’s 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 transaction, the chief executive officer now directly owns 1,059,153 shares in the company, valued at approximately $23,820,350.97. The disclosure for this sale can be found here. Insiders sold 21,417 shares of company stock valued at $486,883 in the last ninety days. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FDMT. Price T Rowe Associates Inc. MD increased its position in shares of 4D Molecular Therapeutics by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,952 shares of the company’s stock worth $764,000 after acquiring an additional 1,356 shares during the period. Principal Financial Group Inc. grew its stake in 4D Molecular Therapeutics by 9.6% in the second 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 in the last quarter. Algert Global LLC increased its holdings in 4D Molecular Therapeutics by 20.6% during the 2nd quarter. Algert Global LLC now owns 16,588 shares of the company’s stock worth $348,000 after purchasing an additional 2,828 shares during the period. Allspring Global Investments Holdings LLC raised its position in 4D Molecular Therapeutics by 702.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock valued at $110,000 after purchasing an additional 3,026 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of 4D Molecular Therapeutics by 12.6% in the 1st quarter. California State Teachers Retirement System now owns 28,490 shares of the company’s stock worth $908,000 after buying an additional 3,197 shares during the period. Hedge funds and other institutional investors 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.