Russell Investments Group Ltd. Takes $63,000 Position in 4D Molecular Therapeutics, Inc. $FDMT

Russell Investments Group Ltd. purchased a new position in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,532 shares of the company’s stock, valued at approximately $63,000.

Other hedge funds also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in 4D Molecular Therapeutics in the fourth quarter worth about $50,000. Velan Capital Investment Management LP purchased a new stake in shares of 4D Molecular Therapeutics in the fourth quarter worth approximately $56,000. Y Intercept Hong Kong Ltd bought a new stake in shares of 4D Molecular Therapeutics during the 1st quarter worth approximately $41,000. ProShare Advisors LLC boosted its holdings in 4D Molecular Therapeutics by 30.1% during the 4th quarter. ProShare Advisors LLC now owns 16,369 shares of the company’s stock valued at $91,000 after acquiring an additional 3,783 shares during the period. Finally, Proficio Capital Partners LLC boosted its holdings in 4D Molecular Therapeutics by 26.0% during the 1st quarter. Proficio Capital Partners LLC now owns 25,195 shares of the company’s stock valued at $75,000 after acquiring an additional 5,195 shares during the period. 99.27% of the stock is currently owned by institutional investors.

4D Molecular Therapeutics Stock Performance

NASDAQ:FDMT opened at $6.61 on Friday. The company’s 50-day simple moving average is $5.34 and its 200-day simple moving average is $4.26. 4D Molecular Therapeutics, Inc. has a fifty-two week low of $2.23 and a fifty-two week high of $17.41. The stock has a market capitalization of $308.69 million, a P/E ratio of -1.87 and a beta of 2.86.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its earnings results on Monday, August 11th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.10). 4D Molecular Therapeutics had a negative net margin of 594,375.81% and a negative return on equity of 40.15%. The firm had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.52 million. On average, research analysts forecast that 4D Molecular Therapeutics, Inc. will post -2.84 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research note on Saturday, August 30th. Barclays decreased their price objective on shares of 4D Molecular Therapeutics from $45.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, May 9th. The Goldman Sachs Group dropped their target price on shares of 4D Molecular Therapeutics from $51.00 to $44.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Chardan Capital reaffirmed a “buy” rating and set a $25.00 price target on shares of 4D Molecular Therapeutics in a research note on Tuesday, August 12th. Finally, Roth Capital lowered their price target on 4D Molecular Therapeutics from $44.00 to $38.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, 4D Molecular Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $30.40.

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.