HC Wainwright Has Negative Forecast for FDMT FY2024 Earnings

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) – HC Wainwright decreased their FY2024 earnings per share estimates for 4D Molecular Therapeutics in a report released on Thursday, November 14th. HC Wainwright analyst M. Caufield now forecasts that the company will post earnings of ($2.89) per share for the year, down from their prior forecast of ($2.59). HC Wainwright currently has a “Buy” rating and a $36.00 target price on the stock. The consensus estimate for 4D Molecular Therapeutics’ current full-year earnings is ($2.81) per share. HC Wainwright also issued estimates for 4D Molecular Therapeutics’ Q4 2024 earnings at ($0.81) EPS, FY2025 earnings at ($3.27) EPS, FY2026 earnings at ($3.57) EPS, FY2027 earnings at ($3.48) EPS and FY2028 earnings at ($3.23) EPS.

Several other analysts have also weighed in on the stock. Cantor Fitzgerald lowered shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, September 23rd. Chardan Capital reaffirmed a “buy” rating and set a $39.00 price objective on shares of 4D Molecular Therapeutics in a report on Thursday, November 14th. Royal Bank of Canada dropped their target price on 4D Molecular Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, November 14th. Finally, Leerink Partners reiterated an “outperform” rating and issued a $36.00 price target (down from $40.00) on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

4D Molecular Therapeutics Stock Down 5.8 %

4D Molecular Therapeutics stock opened at $8.32 on Monday. 4D Molecular Therapeutics has a 12 month low of $7.32 and a 12 month high of $36.25. The stock has a market cap of $384.63 million, a price-to-earnings ratio of -2.92 and a beta of 2.82. The business has a 50 day moving average price of $10.17 and a two-hundred day moving average price of $16.90.

Institutional Trading of 4D Molecular Therapeutics

Several hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its holdings in 4D Molecular Therapeutics by 702.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock worth $110,000 after buying an additional 3,026 shares in the last quarter. Swiss National Bank raised its holdings in 4D Molecular Therapeutics by 29.9% during the 1st quarter. Swiss National Bank now owns 53,900 shares of the company’s stock worth $1,717,000 after purchasing an additional 12,400 shares during the last quarter. Sei Investments Co. acquired a new position in 4D Molecular Therapeutics during the 1st quarter valued at about $504,000. ProShare Advisors LLC bought a new position in shares of 4D Molecular Therapeutics in the 1st quarter valued at about $344,000. Finally, Vanguard Group Inc. grew its holdings in 4D Molecular Therapeutics by 25.3% during the 1st quarter. Vanguard Group Inc. now owns 2,339,943 shares of the company’s stock worth $74,551,000 after acquiring an additional 473,094 shares during the period. 99.27% of the stock is owned by institutional investors.

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.