4D Molecular Therapeutics (NASDAQ:FDMT) Shares Gap Down to $35.87

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $35.87, but opened at $34.16. 4D Molecular Therapeutics shares last traded at $33.02, with a volume of 125,590 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a report on Friday, March 1st. The Goldman Sachs Group restated a “buy” rating and issued a $81.00 price objective on shares of 4D Molecular Therapeutics in a report on Wednesday, February 7th. Royal Bank of Canada upped their target price on shares of 4D Molecular Therapeutics from $25.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, BMO Capital Markets upped their target price on shares of 4D Molecular Therapeutics from $50.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.44.

4D Molecular Therapeutics Stock Performance

The stock’s 50-day simple moving average is $26.76 and its 200 day simple moving average is $18.67. The company has a market capitalization of $1.54 billion, a PE ratio of -12.41 and a beta of 2.86.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.09). 4D Molecular Therapeutics had a negative net margin of 436.30% and a negative return on equity of 34.14%. The firm had revenue of ($0.02) million during the quarter, compared to analysts’ expectations of $4.67 million. On average, analysts expect that 4D Molecular Therapeutics, Inc. will post -2.97 earnings per share for the current year.

Insider Activity

In other news, CEO David Kirn sold 5,696 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $18.41, for a total value of $104,863.36. Following the completion of the transaction, the chief executive officer now owns 1,151,154 shares in the company, valued at approximately $21,192,745.14. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO David Kirn sold 5,696 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $18.41, for a total value of $104,863.36. Following the completion of the transaction, the chief executive officer now owns 1,151,154 shares in the company, valued at approximately $21,192,745.14. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Global Investors Lp Viking sold 540,000 shares of the company’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $19.53, for a total transaction of $10,546,200.00. Following the completion of the transaction, the insider now owns 4,247,914 shares of the company’s stock, valued at approximately $82,961,760.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 714,634 shares of company stock worth $15,044,230. Corporate insiders own 10.70% of the company’s stock.

Institutional Trading of 4D Molecular Therapeutics

A number of large investors have recently bought and sold shares of the business. Lazard Asset Management LLC boosted its stake in 4D Molecular Therapeutics by 44.2% during the 2nd quarter. Lazard Asset Management LLC now owns 2,190 shares of the company’s stock worth $38,000 after purchasing an additional 671 shares during the period. The Manufacturers Life Insurance Company increased its holdings in 4D Molecular Therapeutics by 5.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,713 shares of the company’s stock valued at $230,000 after acquiring an additional 689 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in 4D Molecular Therapeutics by 5.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,381 shares of the company’s stock valued at $316,000 after acquiring an additional 1,002 shares in the last quarter. Virtus ETF Advisers LLC increased its holdings in 4D Molecular Therapeutics by 24.4% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,574 shares of the company’s stock valued at $113,000 after acquiring an additional 1,095 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of 4D Molecular Therapeutics by 23.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 5,872 shares of the company’s stock worth $119,000 after buying an additional 1,110 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

4D Molecular Therapeutics Company Profile

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.