4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Stock Has Average Price Target of $30.22

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) has been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and ten have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $30.22.

Several research firms have recently issued reports on FDMT. B. Riley Financial restated a “buy” rating on shares of 4D Molecular Therapeutics in a research report on Monday, August 17th. Citigroup reaffirmed a “buy” rating on shares of 4D Molecular Therapeutics in a research note on Thursday, October 22nd. Chardan Capital dropped their price objective on 4D Molecular Therapeutics from $26.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. The Goldman Sachs Group reissued a “buy” rating and issued a $32.00 target price on shares of 4D Molecular Therapeutics in a research note on Thursday, August 13th. Finally, Bank of America raised their target price on 4D Molecular Therapeutics from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, September 29th.

4D Molecular Therapeutics Stock Up 1.9%

Shares of NASDAQ FDMT opened at $12.48 on Friday. The firm has a market capitalization of $689.40 million, a PE ratio of -4.75 and a beta of 2.92. The company has a current ratio of 8.03, a quick ratio of 8.03 and a debt-to-equity ratio of 0.05. 4D Molecular Therapeutics has a 1 year low of $6.96 and a 1 year high of $16.93. The firm’s 50-day moving average is $13.31 and its 200-day moving average is $10.99.

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

Insider Activity at 4D Molecular Therapeutics

In other news, insider David Kirn sold 58,333 shares of the company’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $12.92, for a total value of $753,662.36. Following the completion of the sale, the insider directly owned 709,153 shares of the company’s stock, valued at $9,162,256.76. This represents a 7.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 123,790 shares of company stock valued at $1,655,545. Corporate insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Jupiter Topco LLC bought a new stake in 4D Molecular Therapeutics in the second quarter valued at approximately $76,466,000. BlackRock Inc. bought a new stake in shares of 4D Molecular Therapeutics in the 2nd quarter valued at $60,463,000. Trails Edge Capital Partners LP bought a new stake in shares of 4D Molecular Therapeutics in the 2nd quarter valued at $29,631,296. Bank of America Corp DE bought a new stake in shares of 4D Molecular Therapeutics in the 2nd quarter valued at $14,905,000. Finally, Parkman Healthcare Partners LLC bought a new stake in shares of 4D Molecular Therapeutics in the 2nd quarter valued at $12,611,000. Institutional investors and hedge funds 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.