Simplify Asset Management Inc. bought a new stake in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 70,430 shares of the company’s stock, valued at approximately $656,000. Simplify Asset Management Inc. owned 0.14% of 4D Molecular Therapeutics at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. RA Capital Management L.P. raised its position in 4D Molecular Therapeutics by 23.9% in the fourth quarter. RA Capital Management L.P. now owns 5,653,211 shares of the company’s stock valued at $42,399,000 after purchasing an additional 1,090,000 shares during the period. Janus Henderson Group PLC grew its stake in shares of 4D Molecular Therapeutics by 164.4% in the fourth quarter. Janus Henderson Group PLC now owns 4,635,875 shares of the company’s stock valued at $34,726,000 after buying an additional 2,882,508 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in 4D Molecular Therapeutics by 4.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,302,905 shares of the company’s stock worth $32,272,000 after acquiring an additional 174,489 shares in the last quarter. State Street Corp boosted its holdings in 4D Molecular Therapeutics by 197.5% in the 4th quarter. State Street Corp now owns 2,688,880 shares of the company’s stock worth $20,167,000 after acquiring an additional 1,785,106 shares during the period. Finally, Armistice Capital LLC grew its position in 4D Molecular Therapeutics by 76.6% in the fourth quarter. Armistice Capital LLC now owns 1,936,000 shares of the company’s stock valued at $14,520,000 after acquiring an additional 840,000 shares in the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on FDMT shares. HC Wainwright reissued a “buy” rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Friday, March 20th. Chardan Capital reissued a “buy” rating and issued a $26.00 price objective on shares of 4D Molecular Therapeutics in a research report on Thursday, March 19th. Jefferies Financial Group reaffirmed a “buy” rating and set a $21.00 target price (down from $40.00) on shares of 4D Molecular Therapeutics in a research report on Monday, March 30th. The Goldman Sachs Group set a $33.00 price target on 4D Molecular Therapeutics in a report on Friday, May 8th. Finally, Royal Bank Of Canada lifted their price objective on 4D Molecular Therapeutics from $32.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, March 19th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.88.
4D Molecular Therapeutics Price Performance
NASDAQ:FDMT opened at $13.00 on Friday. The company has a market cap of $679.64 million, a PE ratio of -5.06 and a beta of 2.70. The business’s 50 day moving average is $9.87 and its two-hundred day moving average is $9.23. 4D Molecular Therapeutics, Inc. has a 52 week low of $3.86 and a 52 week high of $14.00.
4D Molecular Therapeutics (NASDAQ:FDMT – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($0.04). 4D Molecular Therapeutics had a negative net margin of 182.34% and a negative return on equity of 36.83%. The firm had revenue of $3.05 million for the quarter, compared to analyst estimates of $2.59 million. As a group, sell-side analysts expect that 4D Molecular Therapeutics, Inc. will post -4.14 EPS for the current fiscal year.
Insider Activity
In other news, insider David Kirn sold 114,746 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $10.47, for a total transaction of $1,201,390.62. Following the sale, the insider directly owned 942,485 shares in the company, valued at approximately $9,867,817.95. This represents a 10.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott Bizily sold 9,810 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $12.00, for a total value of $117,720.00. Following the completion of the sale, the insider directly owned 8,617 shares in the company, valued at approximately $103,404. This trade represents a 53.24% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 126,478 shares of company stock worth $1,338,369. 7.90% of the stock is owned by company insiders.
4D Molecular Therapeutics Profile
4D Molecular Therapeutics, founded in 2015 and headquartered in Emeryville, California, is a clinical-stage biotechnology company focused on the development of targeted gene therapies for rare diseases. The company employs its proprietary Gene Expression AAV (GEA) platform to engineer novel adeno-associated virus (AAV) capsids with enhanced tissue selectivity and transduction efficiency. This platform aims to improve the precision and durability of gene delivery compared to traditional AAV approaches.
4D’s pipeline includes both preclinical and clinical-stage programs across multiple therapeutic areas.
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