4D Molecular Therapeutics (NASDAQ:FDMT) Given New $32.00 Price Target at Royal Bank Of Canada

4D Molecular Therapeutics (NASDAQ:FDMT) had its target price lifted by Royal Bank Of Canada from $26.00 to $32.00 in a research note published on Tuesday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. Barclays lowered their price target on shares of 4D Molecular Therapeutics from $38.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday. Chardan Capital upped their target price on shares of 4D Molecular Therapeutics from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday. Roth Capital reduced their price target on shares of 4D Molecular Therapeutics from $44.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Morgan Stanley raised 4D Molecular Therapeutics from an “underweight” rating to an “equal weight” rating in a research note on Friday, November 7th. Finally, Leerink Partners reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of 4D Molecular Therapeutics in a research note on Friday, October 31st. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, 4D Molecular Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $28.70.

4D Molecular Therapeutics Trading Up 6.2%

NASDAQ FDMT opened at $10.80 on Tuesday. The stock has a market capitalization of $504.36 million, a price-to-earnings ratio of -2.88 and a beta of 2.96. The business’s 50 day moving average is $9.09 and its two-hundred day moving average is $6.15. 4D Molecular Therapeutics has a 12-month low of $2.23 and a 12-month high of $12.34.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings results on Monday, November 10th. The company reported ($1.01) EPS for the quarter, beating the consensus estimate of ($1.02) by $0.01. 4D Molecular Therapeutics had a negative return on equity of 44.78% and a negative net margin of 174,314.17%.The business had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.40 million. Equities analysts forecast that 4D Molecular Therapeutics will post -2.84 earnings per share for the current fiscal year.

Insider Activity at 4D Molecular Therapeutics

In related news, insider Scott Bizily sold 2,678 shares of 4D Molecular Therapeutics stock in a transaction dated 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 sale, the insider owned 3,594 shares in the company, valued at approximately $43,128. This trade represents a 42.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 9,128 shares of company stock worth $92,100 over the last quarter. 9.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Several hedge funds have recently modified their holdings of the company. AXQ Capital LP acquired a new position in shares of 4D Molecular Therapeutics in the third quarter valued at approximately $112,000. Peapod Lane Capital LLC boosted its position in 4D Molecular Therapeutics by 1.1% during the third quarter. Peapod Lane Capital LLC now owns 322,081 shares of the company’s stock worth $2,799,000 after acquiring an additional 3,544 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in 4D Molecular Therapeutics in the 3rd quarter worth approximately $80,000. AlphaQuest LLC acquired a new position in 4D Molecular Therapeutics in the 3rd quarter valued at $133,000. Finally, Impact Partnership Wealth LLC purchased a new position in shares of 4D Molecular Therapeutics during the 3rd quarter worth $96,000. 99.27% of the stock is owned by institutional investors and hedge funds.

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.