4D Molecular Therapeutics (NASDAQ:FDMT) Trading Up 2.5% Following Analyst Upgrade

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)’s share price was up 2.5% during mid-day trading on Tuesday after Royal Bank of Canada raised their price target on the stock from $35.00 to $40.00. Royal Bank of Canada currently has an outperform rating on the stock. 4D Molecular Therapeutics traded as high as $26.93 and last traded at $26.91. Approximately 69,921 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 1,089,076 shares. The stock had previously closed at $26.25.

Other analysts have also issued reports about the stock. Jefferies Financial Group increased their price target on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, April 1st. HC Wainwright restated a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research report on Friday, March 1st. BMO Capital Markets dropped their price objective on 4D Molecular Therapeutics from $70.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, April 1st. 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, Barclays started coverage on shares of 4D Molecular Therapeutics in a research note on Monday. They set an “overweight” rating on the stock. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, 4D Molecular Therapeutics has an average rating of “Buy” and an average price target of $44.22.

Insider Buying and Selling at 4D Molecular Therapeutics

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 6,244 shares of 4D Molecular Therapeutics stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $27.50, for a total value of $171,710.00. Following the transaction, the insider now owns 1,737 shares in the company, valued at approximately $47,767.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Scott Bizily sold 6,244 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was 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 in the company, valued at approximately $47,767.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Kirn sold 5,696 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $18.41, for a total transaction of $104,863.36. Following the completion of the transaction, the chief executive officer now owns 1,151,154 shares in the company, valued at approximately $21,192,745.14. The disclosure for this sale can be found here. Insiders sold 147,888 shares of company stock worth $4,134,254 in the last 90 days. 10.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in 4D Molecular Therapeutics by 4.5% in the fourth quarter. Wellington Management Group LLP now owns 180,475 shares of the company’s stock worth $3,656,000 after purchasing an additional 7,753 shares in the last quarter. Goldman Sachs Group Inc. grew its position 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 buying an additional 658,069 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in 4D Molecular Therapeutics by 5.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,596 shares of the company’s stock worth $458,000 after acquiring an additional 1,106 shares during the period. Virtus ETF Advisers LLC lifted its holdings in 4D Molecular Therapeutics by 24.4% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,574 shares of the company’s stock worth $113,000 after acquiring an additional 1,095 shares during the last quarter. Finally, Barclays PLC boosted its stake in 4D Molecular Therapeutics by 47.0% in the fourth quarter. Barclays PLC now owns 108,709 shares of the company’s stock valued at $2,202,000 after acquiring an additional 34,774 shares during the period. Hedge funds and other institutional investors own 99.27% of the company’s stock.

4D Molecular Therapeutics Stock Down 5.4 %

The stock has a 50 day simple moving average of $29.01 and a 200 day simple moving average of $20.09. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -9.51 and a beta of 2.87.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its earnings results on Thursday, February 29th. The company reported ($0.77) earnings per share 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 the consensus estimate of $4.67 million. As a group, analysts forecast that 4D Molecular Therapeutics, Inc. will post -3.03 EPS for the current year.

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.