Short Interest in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Drops By 15.1%

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) was the recipient of a significant drop in short interest in February. As of February 28th, there was short interest totalling 5,240,000 shares, a drop of 15.1% from the February 13th total of 6,170,000 shares. Approximately 12.2% of the shares of the stock are short sold. Based on an average daily volume of 906,600 shares, the short-interest ratio is presently 5.8 days.

4D Molecular Therapeutics Price Performance

Shares of NASDAQ FDMT opened at $3.82 on Wednesday. The company has a market cap of $176.87 million, a P/E ratio of -1.34 and a beta of 2.83. 4D Molecular Therapeutics has a 1 year low of $3.73 and a 1 year high of $36.25. The firm has a 50-day simple moving average of $4.81 and a two-hundred day simple moving average of $7.62.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its quarterly earnings data on Friday, February 28th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.10). As a group, equities research analysts expect that 4D Molecular Therapeutics will post -2.84 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on FDMT shares. Weiss Ratings restated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research report on Friday, March 7th. BMO Capital Markets lowered 4D Molecular Therapeutics from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $40.00 to $15.00 in a research report on Monday, January 13th. HC Wainwright reiterated a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research report on Monday, March 3rd. Chardan Capital dropped their price target on 4D Molecular Therapeutics from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Finally, Bank of America dropped their price target on 4D Molecular Therapeutics from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, 4D Molecular Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $30.63.

Institutional Trading of 4D Molecular Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 4D Molecular Therapeutics by 7.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,324 shares of the company’s stock valued at $247,000 after acquiring an additional 2,925 shares in the last quarter. Velan Capital Investment Management LP bought a new stake in shares of 4D Molecular Therapeutics during the fourth quarter valued at approximately $56,000. Two Sigma Advisers LP raised its stake in shares of 4D Molecular Therapeutics by 452.0% during the fourth quarter. Two Sigma Advisers LP now owns 126,400 shares of the company’s stock valued at $704,000 after acquiring an additional 103,500 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of 4D Molecular Therapeutics by 196.3% during the fourth quarter. Two Sigma Investments LP now owns 313,993 shares of the company’s stock valued at $1,749,000 after acquiring an additional 208,021 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of 4D Molecular Therapeutics during the fourth quarter valued at approximately $50,000. 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.