HC Wainwright reaffirmed their buy rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT – Free Report) in a research note released on Thursday morning, Marketbeat.com reports. The firm currently has a $36.00 price target on the stock.
A number of other research firms have also issued reports on FDMT. Weiss Ratings reiterated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a report on Thursday, October 15th. Chardan Capital cut their price target on 4D Molecular Therapeutics from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, October 6th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $32.00 price target on shares of 4D Molecular Therapeutics in a research report on Thursday, August 13th. B. Riley Financial reiterated a “buy” rating on shares of 4D Molecular Therapeutics in a research note on Monday, August 17th. Finally, Bank of America lifted their price objective on 4D Molecular Therapeutics from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, September 29th. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.90.
Check Out Our Latest Analysis on 4D Molecular Therapeutics
4D Molecular Therapeutics Trading Down 8.9%
NASDAQ FDMT opened at $10.80 on Thursday. The firm has a 50 day simple moving average of $14.05 and a 200-day simple moving average of $11.61. The company has a debt-to-equity ratio of 0.05, a quick ratio of 8.03 and a current ratio of 8.03. 4D Molecular Therapeutics has a one year low of $6.96 and a one year high of $16.93. The firm has a market cap of $596.59 million, a price-to-earnings ratio of -4.11 and a beta of 2.75.
4D Molecular Therapeutics (NASDAQ:FDMT – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.02). 4D Molecular Therapeutics had a negative net margin of 194.74% and a negative return on equity of 41.33%. The business had revenue of $3.78 million during the quarter, compared to analyst estimates of $3.62 million. Equities research analysts anticipate that 4D Molecular Therapeutics will post -4.14 EPS for the current fiscal 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 dated Monday, October 5th. The stock was sold at an average price of $12.92, for a total transaction of $753,662.36. Following the completion of the sale, the insider directly owned 709,153 shares of the company’s stock, valued at $9,162,256.76. The trade was a 7.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 136,205 shares of company stock valued at $1,780,316 in the last 90 days. 7.90% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Sei Investments Co. raised its position in shares of 4D Molecular Therapeutics by 8.9% during the 1st quarter. Sei Investments Co. now owns 12,862 shares of the company’s stock worth $120,000 after acquiring an additional 1,050 shares in the last quarter. Toth Financial Advisory Corp acquired a new position in 4D Molecular Therapeutics in the third quarter valued at approximately $29,000. Headlands Technologies LLC increased its stake in 4D Molecular Therapeutics by 20.6% in the second quarter. Headlands Technologies LLC now owns 19,238 shares of the company’s stock valued at $256,000 after purchasing an additional 3,282 shares during the last quarter. Legal & General Group Plc purchased a new position in 4D Molecular Therapeutics in the second quarter valued at approximately $59,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in 4D Molecular Therapeutics during the second quarter worth approximately $148,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.
About 4D Molecular Therapeutics
4D Molecular Therapeutics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for serious diseases with significant unmet medical needs. The company uses its Therapeutic Vector Evolution platform to design adeno-associated virus (AAV) vectors intended to deliver genetic medicines to specific tissues and organs.
Its pipeline has focused primarily on ophthalmology and pulmonology. Key investigational programs have included 4D-150, an intravitreal gene therapy being developed for retinal diseases such as wet age-related macular degeneration and diabetic macular edema, and 4D-710, an inhaled gene therapy designed to address the underlying cause of cystic fibrosis in patients who cannot benefit from existing CFTR modulator treatments.
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