Rafferty Asset Management LLC Trims Stock Position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Rafferty Asset Management LLC cut its position in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMTFree Report) by 21.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,589 shares of the company’s stock after selling 34,697 shares during the period. Rafferty Asset Management LLC owned approximately 0.30% of 4D Molecular Therapeutics worth $2,565,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FDMT. Bfsg LLC purchased a new position in 4D Molecular Therapeutics during the fourth quarter worth about $30,000. China Universal Asset Management Co. Ltd. raised its stake 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 valued at $100,000 after acquiring an additional 3,873 shares during the period. Daiwa Securities Group Inc. raised its stake 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 valued at $119,000 after acquiring an additional 1,110 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of 4D Molecular Therapeutics in the 3rd quarter valued at approximately $141,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of 4D Molecular Therapeutics in the 3rd quarter valued at approximately $142,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets reduced their price target 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. HC Wainwright reissued a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Friday. Royal Bank of Canada boosted their price target on shares of 4D Molecular Therapeutics from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Jefferies Financial Group boosted their price target on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, Barclays started coverage on shares of 4D Molecular Therapeutics in a report on Monday, April 15th. They issued an “overweight” rating for the company. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $45.63.

Get Our Latest Report on 4D Molecular Therapeutics

4D Molecular Therapeutics Stock Up 0.7 %

NASDAQ FDMT opened at $22.72 on Friday. 4D Molecular Therapeutics, Inc. has a 52 week low of $9.44 and a 52 week high of $36.25. The stock has a market capitalization of $1.17 billion, a PE ratio of -9.31 and a beta of 2.89. The firm has a 50 day moving average of $25.75 and a two-hundred day moving average of $23.74.

4D Molecular Therapeutics (NASDAQ:FDMTGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.07. The business had revenue of $0.03 million during the quarter, compared to the consensus estimate of $1.44 million. 4D Molecular Therapeutics had a negative net margin of 436.30% and a negative return on equity of 26.75%. On average, equities research analysts expect that 4D Molecular Therapeutics, Inc. will post -2.98 earnings per share for the current fiscal year.

Insider Transactions at 4D Molecular Therapeutics

In other news, insider Scott Bizily sold 1,750 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $31.27, for a total transaction of $54,722.50. Following the completion of the sale, the insider now owns 1,737 shares in the company, valued at approximately $54,315.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders sold 19,236 shares of company stock worth $607,796. 7.30% of the stock is currently owned by insiders.

4D Molecular Therapeutics Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for 4D Molecular Therapeutics (NASDAQ:FDMT)

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