4D Molecular Therapeutics (NASDAQ:FDMT – Free Report) had its target price decreased by Chardan Capital from $26.00 to $25.00 in a research report report published on Tuesday,Benzinga reports. Chardan Capital currently has a buy rating on the stock.
A number of other equities analysts have also issued reports on FDMT. HC Wainwright reissued a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a report on Monday, July 20th. The Goldman Sachs Group reiterated a “buy” rating and set a $32.00 price target on shares of 4D Molecular Therapeutics in a research report on Thursday, August 13th. Bank of America raised their price target on 4D Molecular Therapeutics from $29.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, September 29th. Weiss Ratings restated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research note on Friday, July 17th. Finally, Cantor Fitzgerald raised shares of 4D Molecular Therapeutics from a “neutral” rating to an “overweight” rating and set a $20.00 price objective for the company in a report on Monday, September 14th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.90.
Read Our Latest Report on 4D Molecular Therapeutics
4D Molecular Therapeutics Stock Down 2.8%
4D Molecular Therapeutics (NASDAQ:FDMT – Get Free Report) last announced its quarterly 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). The company had revenue of $3.78 million during the quarter, compared to the consensus estimate of $3.62 million. 4D Molecular Therapeutics had a negative return on equity of 41.33% and a negative net margin of 194.74%. Analysts predict that 4D Molecular Therapeutics will post -4.07 EPS for the current year.
Insiders Place Their Bets
In other 4D Molecular Therapeutics news, insider David Kirn sold 58,333 shares of 4D Molecular Therapeutics stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $13.90, for a total value of $810,828.70. Following the transaction, the insider owned 767,486 shares in the company, valued at approximately $10,668,055.40. The trade was a 7.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 134,570 shares of company stock worth $1,743,197 in the last ninety days. Company insiders own 7.90% of the company’s stock.
Hedge Funds Weigh In On 4D Molecular Therapeutics
A number of hedge funds have recently modified their holdings of the stock. Sei Investments Co. raised its holdings in shares of 4D Molecular Therapeutics by 8.9% in the 1st quarter. Sei Investments Co. now owns 12,862 shares of the company’s stock worth $120,000 after buying an additional 1,050 shares in the last quarter. Headlands Technologies LLC raised its stake in 4D Molecular Therapeutics by 20.6% during the second quarter. Headlands Technologies LLC now owns 19,238 shares of the company’s stock worth $256,000 after acquiring an additional 3,282 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of 4D Molecular Therapeutics in the 2nd quarter valued at $59,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of 4D Molecular Therapeutics in the 2nd quarter worth about $148,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of 4D Molecular Therapeutics during the 2nd quarter worth about $166,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.
About 4D Molecular Therapeutics
4D Molecular Therapeutics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for serious diseases. The company uses its Therapeutic Vector Evolution platform to engineer adeno-associated virus (AAV) vectors designed to deliver genetic medicines to specific tissues, including the eye and lungs.
Its investigational pipeline includes 4D-150, an intravitreal gene therapy being developed for retinal diseases such as wet age-related macular degeneration and diabetic macular edema.
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