4D Molecular Therapeutics (NASDAQ:FDMT) Posts Earnings Results, Misses Expectations By $0.03 EPS

4D Molecular Therapeutics (NASDAQ:FDMT) announced its quarterly earnings results on Thursday. The company reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.03), FiscalAI reports. 4D Molecular Therapeutics had a negative net margin of 194.74% and a negative return on equity of 41.33%. The firm had revenue of $4.14 million for the quarter, compared to the consensus estimate of $4.13 million.

4D Molecular Therapeutics Trading Down 6.7%

FDMT stock traded down $0.87 during midday trading on Thursday, reaching $12.12. 895,895 shares of the company traded hands, compared to its average volume of 868,418. 4D Molecular Therapeutics has a 52-week low of $6.96 and a 52-week high of $16.93. The company has a debt-to-equity ratio of 0.05, a quick ratio of 8.03 and a current ratio of 8.03. The business has a 50 day moving average of $13.25 and a 200-day moving average of $11.03. The firm has a market capitalization of $669.56 million, a price-to-earnings ratio of -4.61 and a beta of 2.92.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Chardan Capital reduced their price objective on 4D Molecular Therapeutics from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. HC Wainwright reiterated a “buy” rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Thursday, October 22nd. Citigroup restated a “buy” rating on shares of 4D Molecular Therapeutics in a research report on Thursday, October 22nd. Cantor Fitzgerald raised shares of 4D Molecular Therapeutics from a “neutral” rating to an “overweight” rating and set a $20.00 price target on the stock in a research note on Monday, September 14th. Finally, B. Riley Financial reiterated a “buy” rating on shares of 4D Molecular Therapeutics in a research report on Monday, August 17th. Ten analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, 4D Molecular Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $30.22.

Insider Activity at 4D Molecular Therapeutics

In other news, insider David Kirn sold 58,333 shares of 4D Molecular Therapeutics stock in a transaction that occurred on 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 transaction, the insider owned 709,153 shares in the company, valued at approximately $9,162,256.76. The trade was a 7.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 122,155 shares of company stock valued at $1,635,925. 7.90% of the stock is currently owned by insiders.

4D Molecular Therapeutics Company Profile

4D Molecular Therapeutics, Inc. is a biotechnology company developing genetic medicines for serious diseases. Its research focuses on adeno-associated virus (AAV) gene therapies, which use engineered viral vectors to deliver therapeutic genetic material to cells. The company’s proprietary Therapeutic Vector Evolution platform is designed to create AAV vectors with targeted properties, including the ability to reach specific tissues. Its investigational programs have included treatments for retinal diseases, cystic fibrosis and Fabry disease.