4D Molecular Therapeutics (NASDAQ:FDMT) Trading 2.5% Higher After Analyst Upgrade

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)’s stock price was up 2.5% on Tuesday after Royal Bank of Canada raised their price target on the stock from $35.00 to $40.00. Royal Bank of Canada currently has an outperform rating on the stock. 4D Molecular Therapeutics traded as high as $26.93 and last traded at $26.91. Approximately 69,921 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 1,089,076 shares. The stock had previously closed at $26.25.

A number of other equities research analysts also recently issued reports on FDMT. The Goldman Sachs Group reiterated a “buy” rating and issued a $81.00 target price on shares of 4D Molecular Therapeutics in a research report on Wednesday, February 7th. Jefferies Financial Group raised their price target on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a “buy” rating in a report on Monday, April 1st. Barclays initiated coverage on shares of 4D Molecular Therapeutics in a report on Monday. They set an “overweight” rating on the stock. BMO Capital Markets lowered their target price on shares of 4D Molecular Therapeutics from $70.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, April 1st. Finally, HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research note on Friday, March 1st. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $44.22.

Insider Activity

In other news, CEO David Kirn sold 5,696 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $18.41, for a total value of $104,863.36. Following the transaction, the chief executive officer now directly owns 1,151,154 shares of the company’s stock, valued at $21,192,745.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO David Kirn sold 5,696 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $18.41, for a total value of $104,863.36. Following the transaction, the chief executive officer now directly owns 1,151,154 shares in the company, valued at $21,192,745.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott Bizily sold 1,750 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $27.67, for a total transaction of $48,422.50. Following the completion of the transaction, the insider now owns 1,737 shares in the company, valued at $48,062.79. The disclosure for this sale can be found here. Insiders have sold 147,888 shares of company stock valued at $4,134,254 over the last ninety days. 10.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Large investors have recently bought and sold shares of the company. RA Capital Management L.P. boosted its stake in shares of 4D Molecular Therapeutics by 35.6% in the 3rd quarter. RA Capital Management L.P. now owns 4,163,211 shares of the company’s stock valued at $52,998,000 after purchasing an additional 1,093,680 shares in the last quarter. BlackRock Inc. boosted its stake in shares of 4D Molecular Therapeutics by 14.3% in the 2nd quarter. BlackRock Inc. now owns 2,914,430 shares of the company’s stock valued at $52,664,000 after purchasing an additional 363,695 shares in the last quarter. State Street Corp boosted its stake in shares of 4D Molecular Therapeutics by 0.4% in the 2nd quarter. State Street Corp now owns 2,050,430 shares of the company’s stock valued at $37,051,000 after purchasing an additional 8,241 shares in the last quarter. Novo Holdings A S boosted its stake in shares of 4D Molecular Therapeutics by 25.0% in the 4th quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock valued at $30,390,000 after purchasing an additional 300,000 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in 4D Molecular Therapeutics by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 1,290,941 shares of the company’s stock valued at $19,519,000 after buying an additional 7,858 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

4D Molecular Therapeutics Stock Performance

The business’s fifty day moving average is $29.07 and its 200-day moving average is $20.06. The firm has a market cap of $1.37 billion, a P/E ratio of -10.06 and a beta of 2.87.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.09). 4D Molecular Therapeutics had a negative return on equity of 34.14% and a negative net margin of 436.30%. The firm had revenue of ($0.02) million for the quarter, compared to the consensus estimate of $4.67 million. Analysts predict that 4D Molecular Therapeutics, Inc. will post -3.03 EPS for the current fiscal 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.