4D Molecular Therapeutics (NASDAQ:FDMT – Get Free Report) was upgraded by equities research analysts at Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a report issued on Monday, MarketBeat reports. The firm presently has a $20.00 price objective on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 51.86% from the company’s previous close.
FDMT has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research report on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a research report on Monday, July 20th. Chardan Capital raised shares of 4D Molecular Therapeutics to a “strong-buy” rating in a report on Tuesday, July 28th. B. Riley Financial reaffirmed a “buy” rating on shares of 4D Molecular Therapeutics in a report on Monday, August 17th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $32.00 price objective on shares of 4D Molecular Therapeutics in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.56.
Check Out Our Latest Analysis on 4D Molecular Therapeutics
4D Molecular Therapeutics Stock Performance
4D Molecular Therapeutics (NASDAQ:FDMT – Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.02). 4D Molecular Therapeutics had a negative return on equity of 41.33% and a negative net margin of 194.74%.The company had revenue of $3.78 million during the quarter, compared to analysts’ expectations of $3.62 million. As a group, analysts anticipate that 4D Molecular Therapeutics will post -4.09 EPS for the current year.
Insiders Place Their Bets
In other news, insider Scott Bizily sold 9,810 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $12.00, for a total transaction of $117,720.00. Following the sale, the insider directly owned 8,617 shares in the company, valued at $103,404. This trade represents a 53.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David Kirn sold 12,415 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $10.05, for a total transaction of $124,770.75. Following the completion of the transaction, the insider directly owned 871,737 shares of the company’s stock, valued at $8,760,956.85. This represents a 1.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 199,158 shares of company stock valued at $2,229,161. Corporate insiders own 7.90% of the company’s stock.
Hedge Funds Weigh In On 4D Molecular Therapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jupiter Topco LLC bought a new stake in 4D Molecular Therapeutics in the 2nd quarter valued at $76,466,000. RA Capital Management L.P. increased its holdings in shares of 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 worth $42,399,000 after purchasing an additional 1,090,000 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of 4D Molecular Therapeutics by 13.2% in the first quarter. Janus Henderson Group PLC now owns 5,247,151 shares of the company’s stock worth $48,868,000 after purchasing an additional 611,276 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of 4D Molecular Therapeutics in the second quarter worth about $60,463,000. Finally, Goldman Sachs Group Inc. boosted its stake in 4D Molecular Therapeutics by 4.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,302,905 shares of the company’s stock valued at $32,272,000 after buying an additional 174,489 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.
About 4D Molecular Therapeutics
4D Molecular Therapeutics, Inc is a clinical-stage biotechnology company developing genetic medicines for serious diseases with significant unmet medical needs. The company uses its Therapeutic Vector Evolution platform to engineer and select adeno-associated virus (AAV) vectors designed to deliver genetic payloads to specific tissues and support the development of potentially durable, one-time treatments.
Its research and development programs have focused primarily on ophthalmic and pulmonary diseases.
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