4D Molecular Therapeutics (NASDAQ:FDMT) Trading Down 2.9%

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) shares traded down 2.9% during trading on Tuesday . The stock traded as low as $25.62 and last traded at $25.62. 241,148 shares were traded during mid-day trading, a decline of 77% from the average session volume of 1,054,143 shares. The stock had previously closed at $26.39.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FDMT shares. HC Wainwright reissued a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research note on Friday, March 1st. BMO Capital Markets cut their target price on 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. Royal Bank of Canada raised their target price on 4D Molecular Therapeutics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. The Goldman Sachs Group reissued a “buy” rating and issued a $81.00 target price on shares of 4D Molecular Therapeutics in a research note on Wednesday, February 7th. Finally, Jefferies Financial Group raised their target price on 4D Molecular Therapeutics from $30.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, 4D Molecular Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $44.22.

4D Molecular Therapeutics Stock Performance

The company has a 50-day simple moving average of $28.68 and a two-hundred day simple moving average of $20.57. The firm has a market capitalization of $1.20 billion, a P/E ratio of -8.85 and a beta of 2.87.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its 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 net margin of 436.30% and a negative return on equity of 34.14%. The business had revenue of ($0.02) million for the quarter, compared to analysts’ expectations of $4.67 million. As a group, research analysts forecast that 4D Molecular Therapeutics, Inc. will post -3.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO David Kirn sold 92,001 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $27.13, for a total value of $2,495,987.13. Following the completion of the transaction, the chief executive officer now directly owns 1,059,153 shares in the company, valued at approximately $28,734,820.89. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Scott Bizily sold 6,244 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $27.50, for a total transaction of $171,710.00. Following the completion of the sale, the insider now owns 1,737 shares of the company’s stock, valued at approximately $47,767.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Kirn sold 92,001 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $27.13, for a total transaction of $2,495,987.13. Following the sale, the chief executive officer now directly owns 1,059,153 shares of the company’s stock, valued at approximately $28,734,820.89. The disclosure for this sale can be found here. Insiders sold a total of 143,942 shares of company stock worth $4,074,435 in the last three months. Insiders own 10.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. RA Capital Management L.P. boosted its holdings in 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 worth $52,998,000 after buying an additional 1,093,680 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of 4D Molecular Therapeutics by 415.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock valued at $16,539,000 after purchasing an additional 658,069 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of 4D Molecular Therapeutics during the first quarter valued at about $13,718,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of 4D Molecular Therapeutics by 4.3% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 348,700 shares of the company’s stock valued at $4,439,000 after purchasing an additional 14,400 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of 4D Molecular Therapeutics by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 268,638 shares of the company’s stock valued at $5,443,000 after purchasing an additional 10,130 shares in the last quarter. Institutional investors own 99.27% of the company’s stock.

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.