4D Molecular Therapeutics (NASDAQ:FDMT) Price Target Increased to $40.00 by Analysts at Royal Bank of Canada

4D Molecular Therapeutics (NASDAQ:FDMT) had its price objective hoisted by Royal Bank of Canada from $35.00 to $40.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 49.53% from the stock’s current price.

A number of other research analysts have also recently weighed in on FDMT. HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Friday, March 1st. BMO Capital Markets reduced their target price on 4D Molecular Therapeutics from $70.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday, April 1st. Jefferies Financial Group lifted their target price on 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a “buy” rating in a report on Monday, April 1st. The Goldman Sachs Group reissued a “buy” rating and issued a $81.00 price objective on shares of 4D Molecular Therapeutics in a research report on Wednesday, February 7th. Finally, Barclays started coverage on 4D Molecular Therapeutics in a research report on Monday. They issued an “overweight” rating on the stock. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $44.22.

4D Molecular Therapeutics Trading Up 1.9 %

Shares of 4D Molecular Therapeutics stock opened at $26.75 on Monday. 4D Molecular Therapeutics has a twelve month low of $9.44 and a twelve month high of $36.25. The stock has a market capitalization of $1.37 billion, a P/E ratio of -10.06 and a beta of 2.87. The business’s fifty day moving average price is $29.07 and its 200 day moving average price is $20.06.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its earnings results on Thursday, February 29th. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of ($0.02) million during the quarter, compared to analyst estimates of $4.67 million. As a group, sell-side analysts predict that 4D Molecular Therapeutics will post -3.03 EPS for the current year.

Insider Transactions at 4D Molecular Therapeutics

In other news, CEO David Kirn sold 5,696 shares of 4D Molecular Therapeutics stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $18.41, for a total transaction of $104,863.36. Following the sale, the chief executive officer now directly owns 1,151,154 shares of the company’s stock, valued at $21,192,745.14. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO David Kirn sold 5,696 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $18.41, for a total value of $104,863.36. Following the completion of the sale, the chief executive officer now directly owns 1,151,154 shares of the company’s stock, valued at $21,192,745.14. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Scott Bizily sold 6,244 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $27.50, for a total value of $171,710.00. Following the completion of the sale, the insider now directly owns 1,737 shares of the company’s stock, valued at $47,767.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 147,888 shares of company stock valued at $4,134,254. 10.70% of the stock is currently owned by insiders.

Institutional Trading of 4D Molecular Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of FDMT. Bfsg LLC acquired a new position in 4D Molecular Therapeutics in the fourth quarter valued at approximately $30,000. International Assets Investment Management LLC acquired a new position in 4D Molecular Therapeutics in the third quarter valued at approximately $36,000. US Bancorp DE boosted its stake in 4D Molecular Therapeutics by 580.7% in the fourth quarter. US Bancorp DE now owns 1,797 shares of the company’s stock valued at $36,000 after acquiring an additional 1,533 shares during the period. Lazard Asset Management LLC boosted its stake in 4D Molecular Therapeutics by 44.2% in the second quarter. Lazard Asset Management LLC now owns 2,190 shares of the company’s stock valued at $38,000 after acquiring an additional 671 shares during the period. Finally, Ensign Peak Advisors Inc boosted its stake in 4D Molecular Therapeutics by 167.9% in the third quarter. Ensign Peak Advisors Inc now owns 7,180 shares of the company’s stock valued at $58,000 after acquiring an additional 4,500 shares during the period. 99.27% of the stock is owned by institutional investors.

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.