Cubist Systematic Strategies LLC Sells 364,659 Shares of 4D Molecular Therapeutics, Inc. $FDMT

Cubist Systematic Strategies LLC lowered its stake in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 81.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,172 shares of the company’s stock after selling 364,659 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.18% of 4D Molecular Therapeutics worth $272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in 4D Molecular Therapeutics during the fourth quarter valued at about $50,000. Velan Capital Investment Management LP bought a new stake in 4D Molecular Therapeutics during the fourth quarter valued at about $56,000. Y Intercept Hong Kong Ltd bought a new stake in 4D Molecular Therapeutics during the first quarter valued at about $41,000. ProShare Advisors LLC boosted its position in 4D Molecular Therapeutics by 30.1% during the fourth quarter. ProShare Advisors LLC now owns 16,369 shares of the company’s stock valued at $91,000 after purchasing an additional 3,783 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in 4D Molecular Therapeutics during the first quarter valued at about $63,000. Institutional investors own 99.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FDMT. Chardan Capital reaffirmed a “buy” rating and set a $25.00 price objective on shares of 4D Molecular Therapeutics in a research report on Tuesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research report on Saturday, August 30th. 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 assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, 4D Molecular Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $30.40.

4D Molecular Therapeutics Stock Performance

Shares of NASDAQ FDMT opened at $7.07 on Friday. The company has a market cap of $330.17 million, a PE ratio of -2.00 and a beta of 2.86. The business has a 50-day simple moving average of $5.64 and a two-hundred day simple moving average of $4.34. 4D Molecular Therapeutics, Inc. has a fifty-two week low of $2.23 and a fifty-two week high of $17.41.

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

About 4D Molecular Therapeutics

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.