Wellington Management Group LLP Grows Position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Wellington Management Group LLP increased its position in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) by 2.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 172,722 shares of the company’s stock after buying an additional 3,638 shares during the quarter. Wellington Management Group LLP owned about 0.40% of 4D Molecular Therapeutics worth $2,199,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in FDMT. Swiss National Bank grew its stake in 4D Molecular Therapeutics by 6.9% during the 1st quarter. Swiss National Bank now owns 57,000 shares of the company’s stock worth $862,000 after buying an additional 3,700 shares during the last quarter. JPMorgan Chase & Co. grew its stake in 4D Molecular Therapeutics by 29.7% during the 1st quarter. JPMorgan Chase & Co. now owns 367,545 shares of the company’s stock worth $5,557,000 after buying an additional 84,158 shares during the last quarter. Bank of New York Mellon Corp grew its stake in 4D Molecular Therapeutics by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 101,322 shares of the company’s stock worth $1,532,000 after buying an additional 1,136 shares during the last quarter. MetLife Investment Management LLC grew its stake in 4D Molecular Therapeutics by 55.4% during the 1st quarter. MetLife Investment Management LLC now owns 17,379 shares of the company’s stock worth $263,000 after buying an additional 6,197 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in 4D Molecular Therapeutics by 14.3% during the 1st quarter. Rhumbline Advisers now owns 35,097 shares of the company’s stock worth $531,000 after buying an additional 4,382 shares during the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have 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 research note on Friday, March 1st. The Goldman Sachs Group reiterated a “buy” rating and issued a $81.00 target price on shares of 4D Molecular Therapeutics in a research note on Wednesday, February 7th. BMO Capital Markets lifted their target price on 4D Molecular Therapeutics from $50.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, Royal Bank of Canada lifted their target price on 4D Molecular Therapeutics from $25.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.44.

Insider Activity

In other news, insider Scott Bizily sold 6,244 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was 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 approximately $47,767.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Global Investors Lp Viking sold 540,000 shares of 4D Molecular Therapeutics stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $19.53, for a total transaction of $10,546,200.00. Following the completion of the transaction, the insider now directly owns 4,247,914 shares of the company’s stock, valued at $82,961,760.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Scott Bizily sold 6,244 shares of 4D Molecular Therapeutics stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $27.50, for a total value of $171,710.00. Following the transaction, 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. Insiders sold 714,634 shares of company stock valued at $15,044,230 in the last three months. 10.70% of the stock is currently owned by company insiders.

4D Molecular Therapeutics Price Performance

FDMT opened at $35.87 on Thursday. The business has a 50 day simple moving average of $26.76 and a 200-day simple moving average of $18.67. The stock has a market capitalization of $1.79 billion, a P/E ratio of -13.48 and a beta of 2.86. 4D Molecular Therapeutics, Inc. has a 12 month low of $9.44 and a 12 month high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.09). The business had revenue of ($0.02) million during the quarter, compared to analyst estimates of $4.67 million. 4D Molecular Therapeutics had a negative net margin of 436.30% and a negative return on equity of 34.14%. Research analysts anticipate that 4D Molecular Therapeutics, Inc. will post -2.97 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.