4D Molecular Therapeutics (NASDAQ:FDMT) Stock Rating Reaffirmed as Buy by HC Wainwright

4D Molecular Therapeutics (NASDAQ:FDMT)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a note issued to investors on Thursday, Marketbeat reports. They currently have a $36.00 target price on the stock. HC Wainwright‘s price objective would suggest a potential upside of 233.33% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. Bank of America increased their target price on shares of 4D Molecular Therapeutics from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, September 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research report on Thursday, October 15th. Cantor Fitzgerald raised shares of 4D Molecular Therapeutics from a “neutral” rating to an “overweight” rating and set a $20.00 target price for the company in a research report on Monday, September 14th. Chardan Capital decreased their target price on shares of 4D Molecular Therapeutics from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, October 6th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $32.00 target price on shares of 4D Molecular Therapeutics in a research report on Thursday, August 13th. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, 4D Molecular Therapeutics has an average rating of “Moderate Buy” and an average price target of $28.90.

4D Molecular Therapeutics Stock Down 8.9%

Shares of NASDAQ FDMT traded down $1.05 during mid-day trading on Thursday, reaching $10.80. 996,129 shares of the company were exchanged, compared to its average volume of 863,593. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.05. The stock has a market cap of $596.59 million, a price-to-earnings ratio of -4.11 and a beta of 2.75. 4D Molecular Therapeutics has a 1 year low of $6.96 and a 1 year high of $16.93. The firm has a 50-day moving average of $14.07 and a 200 day moving average of $11.61.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.02). The company had revenue of $3.78 million for the quarter, compared to analysts’ expectations of $3.62 million. 4D Molecular Therapeutics had a negative return on equity of 41.33% and a negative net margin of 194.74%. On average, research analysts expect that 4D Molecular Therapeutics will post -4.14 earnings per share for the current year.

Insider Activity

In other 4D Molecular Therapeutics news, insider David Kirn sold 58,333 shares of the firm’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $12.92, for a total value of $753,662.36. Following the completion of the transaction, the insider owned 709,153 shares of the company’s stock, valued at approximately $9,162,256.76. This trade represents a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 136,205 shares of company stock valued at $1,780,316 over the last three months. Company insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FDMT. Jupiter Topco LLC purchased a new position in shares of 4D Molecular Therapeutics in the second quarter worth $76,466,000. BlackRock Inc. purchased a new position in shares of 4D Molecular Therapeutics during the second quarter worth $60,463,000. Trails Edge Capital Partners LP purchased a new position in shares of 4D Molecular Therapeutics during the second quarter worth $29,631,296. Bank of America Corp DE purchased a new position in shares of 4D Molecular Therapeutics during the second quarter worth $14,905,000. Finally, Parkman Healthcare Partners LLC purchased a new position in shares of 4D Molecular Therapeutics during the second quarter worth $12,611,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

About 4D Molecular Therapeutics

4D Molecular Therapeutics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for serious diseases with significant unmet medical needs. The company uses its Therapeutic Vector Evolution platform to design adeno-associated virus (AAV) vectors intended to deliver genetic medicines to specific tissues and organs.

Its pipeline has focused primarily on ophthalmology and pulmonology. Key investigational programs have included 4D-150, an intravitreal gene therapy being developed for retinal diseases such as wet age-related macular degeneration and diabetic macular edema, and 4D-710, an inhaled gene therapy designed to address the underlying cause of cystic fibrosis in patients who cannot benefit from existing CFTR modulator treatments.