Analysts Set 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Price Target at $29.50

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) have been given an average rating of “Moderate Buy” by the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $28.50.

Several analysts have recently issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $26.00 price target on shares of 4D Molecular Therapeutics in a research report on Tuesday, October 21st. Leerink Partners reissued an “outperform” rating and issued a $17.00 price target on shares of 4D Molecular Therapeutics in a research report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research report on Wednesday, October 8th. Chardan Capital reissued a “buy” rating and issued a $25.00 price target on shares of 4D Molecular Therapeutics in a research report on Tuesday, August 12th. Finally, Roth Capital lowered their price target on shares of 4D Molecular Therapeutics from $44.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th.

Insider Activity

In other news, insider Scott Bizily sold 2,678 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $12.00, for a total value of $32,136.00. Following the sale, the insider directly owned 3,594 shares of the company’s stock, valued at approximately $43,128. This represents a 42.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 9,128 shares of company stock valued at $92,100 over the last quarter. Corporate insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of FDMT. BVF Inc. IL lifted its holdings in shares of 4D Molecular Therapeutics by 70.8% in the first quarter. BVF Inc. IL now owns 4,561,289 shares of the company’s stock worth $14,733,000 after buying an additional 1,890,647 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of 4D Molecular Therapeutics by 33,131.8% in the first quarter. Federated Hermes Inc. now owns 1,250,181 shares of the company’s stock worth $4,038,000 after buying an additional 1,246,419 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of 4D Molecular Therapeutics by 1,103.4% in the first quarter. Acadian Asset Management LLC now owns 400,606 shares of the company’s stock worth $1,290,000 after buying an additional 367,317 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of 4D Molecular Therapeutics by 15.0% in the first quarter. Millennium Management LLC now owns 1,633,987 shares of the company’s stock worth $5,278,000 after buying an additional 213,264 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in shares of 4D Molecular Therapeutics by 54.7% in the second quarter. Raymond James Financial Inc. now owns 455,470 shares of the company’s stock worth $1,690,000 after buying an additional 161,091 shares in the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

4D Molecular Therapeutics Stock Performance

Shares of NASDAQ:FDMT opened at $11.22 on Tuesday. The company’s 50-day moving average is $8.57 and its 200 day moving average is $5.84. The company has a market capitalization of $524.00 million, a P/E ratio of -3.18 and a beta of 2.93. 4D Molecular Therapeutics has a fifty-two week low of $2.23 and a fifty-two week high of $12.34.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.10). The company had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.52 million. 4D Molecular Therapeutics had a negative return on equity of 40.15% and a negative net margin of 594,375.81%. As a group, research analysts predict that 4D Molecular Therapeutics will post -2.84 earnings per share for the current 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.