Royal Bank of Canada Reiterates Outperform Rating for 4D Molecular Therapeutics (NASDAQ:FDMT)

Royal Bank of Canada reaffirmed their outperform rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a $40.00 price objective on the stock.

A number of other equities research analysts have also recently weighed in on the company. Barclays initiated coverage on 4D Molecular Therapeutics in a report on Monday, April 15th. They issued an overweight rating on the stock. Chardan Capital restated a buy rating and issued a $38.00 price target on shares of 4D Molecular Therapeutics in a report on Wednesday, July 17th. HC Wainwright restated a buy rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a report on Friday, June 7th. BMO Capital Markets lowered their target price on 4D Molecular Therapeutics from $63.00 to $40.00 and set an outperform rating on the stock in a report on Thursday, July 18th. Finally, Jefferies Financial Group increased their target price on 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a buy rating in a report on Monday, April 1st. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average target price of $43.63.

4D Molecular Therapeutics Price Performance

FDMT opened at $18.52 on Monday. The stock has a market cap of $957.48 million, a P/E ratio of -7.59 and a beta of 2.83. The stock’s 50 day simple moving average is $22.74 and its 200 day simple moving average is $24.86. 4D Molecular Therapeutics has a 1-year low of $9.44 and a 1-year high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.07. The firm had revenue of $0.03 million during the quarter, compared to analyst estimates of $1.44 million. Research analysts expect that 4D Molecular Therapeutics will post -2.98 EPS for the current fiscal year.

Insider Transactions at 4D Molecular Therapeutics

In other news, CEO David Kirn sold 12,930 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $23.10, for a total transaction of $298,683.00. Following the sale, the chief executive officer now owns 1,059,153 shares in the company, valued at $24,466,434.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Scott Bizily sold 4,248 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $21.36, for a total transaction of $90,737.28. Following the sale, the insider now owns 1,737 shares in the company, valued at $37,102.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Kirn sold 12,930 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $23.10, for a total value of $298,683.00. Following the sale, the chief executive officer now owns 1,059,153 shares in the company, valued at approximately $24,466,434.30. The disclosure for this sale can be found here. Insiders have sold 35,597 shares of company stock worth $821,939 over the last quarter. 7.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Hedge funds have recently made changes to their positions in the business. Bfsg LLC purchased a new position in shares of 4D Molecular Therapeutics in the 4th quarter worth $30,000. Allspring Global Investments Holdings LLC raised its position in shares of 4D Molecular Therapeutics by 702.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock worth $110,000 after buying an additional 3,026 shares during the period. China Universal Asset Management Co. Ltd. raised its position in shares of 4D Molecular Therapeutics by 359.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,951 shares of the company’s stock worth $100,000 after buying an additional 3,873 shares during the period. Daiwa Securities Group Inc. raised its position in shares of 4D Molecular Therapeutics by 23.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,872 shares of the company’s stock worth $119,000 after buying an additional 1,110 shares during the period. Finally, Entropy Technologies LP purchased a new position in shares of 4D Molecular Therapeutics in the 1st quarter worth $239,000. Institutional investors and hedge funds 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.