4D Molecular Therapeutics (NASDAQ:FDMT) Shares Down 7.4% – Here’s What Happened

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) fell 7.4% on Monday . The company traded as low as $10.57 and last traded at $10.7940. 417,878 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 853,039 shares. The stock had previously closed at $11.66.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada boosted their target price on 4D Molecular Therapeutics from $26.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, November 11th. Morgan Stanley raised shares of 4D Molecular Therapeutics from an “underweight” rating to an “equal weight” rating in a research report on Friday, November 7th. Barclays dropped their target price on shares of 4D Molecular Therapeutics from $38.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Roth Capital reduced their price target on shares of 4D Molecular Therapeutics from $44.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Finally, Chardan Capital increased their price target on shares of 4D Molecular Therapeutics from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Eight 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, the company has an average rating of “Moderate Buy” and an average target price of $28.70.

4D Molecular Therapeutics Stock Performance

The stock’s 50-day moving average price is $10.11 and its two-hundred day moving average price is $6.83. The stock has a market capitalization of $615.06 million, a PE ratio of -2.87 and a beta of 2.96.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings data on Monday, November 10th. The company reported ($1.01) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.01. 4D Molecular Therapeutics had a negative net margin of 174,314.17% and a negative return on equity of 47.27%. The business had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.40 million. On average, analysts predict that 4D Molecular Therapeutics, Inc. will post -2.84 earnings per share for the current fiscal year.

Insider Buying and Selling at 4D Molecular Therapeutics

In related news, insider Scott Bizily sold 2,678 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $12.00, for a total transaction of $32,136.00. Following the completion of the transaction, the insider owned 3,594 shares of the company’s stock, valued at $43,128. This trade represents a 42.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 10,763 shares of company stock valued at $109,415. Corporate insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. increased its holdings in shares of 4D Molecular Therapeutics by 33,131.8% during the first quarter. Federated Hermes Inc. now owns 1,250,181 shares of the company’s stock valued at $4,038,000 after acquiring an additional 1,246,419 shares in the last quarter. Invesco Ltd. increased its stake in 4D Molecular Therapeutics by 318.3% during the 1st quarter. Invesco Ltd. now owns 117,768 shares of the company’s stock valued at $380,000 after purchasing an additional 89,611 shares in the last quarter. Nuveen LLC bought a new stake in 4D Molecular Therapeutics during the 1st quarter valued at about $486,000. Russell Investments Group Ltd. purchased a new position in 4D Molecular Therapeutics in the first quarter worth about $63,000. Finally, American Century Companies Inc. lifted its stake in shares of 4D Molecular Therapeutics by 12.9% in the first quarter. American Century Companies Inc. now owns 43,784 shares of the company’s stock worth $141,000 after buying an additional 4,999 shares in the last quarter. 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.