4D Molecular Therapeutics (NASDAQ:FDMT) Trading 2.5% Higher on Analyst Upgrade

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) rose 2.5% during trading on Tuesday after Royal Bank of Canada raised their price target on the stock from $35.00 to $40.00. Royal Bank of Canada currently has an outperform rating on the stock. 4D Molecular Therapeutics traded as high as $26.93 and last traded at $26.91. Approximately 69,921 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 1,089,076 shares. The stock had previously closed at $26.25.

A number of other equities analysts also recently weighed in on the stock. Jefferies Financial Group boosted their target price on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Barclays initiated coverage on shares of 4D Molecular Therapeutics in a report on Monday. They set an “overweight” rating on the stock. BMO Capital Markets lowered their target price on shares of 4D Molecular Therapeutics from $70.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday, April 1st. The Goldman Sachs Group restated a “buy” rating and set a $81.00 target price on shares of 4D Molecular Therapeutics in a report on Wednesday, February 7th. Finally, HC Wainwright restated a “buy” rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Friday, March 1st. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, 4D Molecular Therapeutics has an average rating of “Buy” and a consensus price target of $44.22.

Insider Buying and Selling at 4D Molecular Therapeutics

In other news, insider Robert Young Kim sold 24,552 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $30.05, for a total value of $737,787.60. Following the completion of the sale, the insider now owns 1,043 shares of the company’s stock, valued at $31,342.15. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Robert Young Kim sold 24,552 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $30.05, for a total value of $737,787.60. Following the completion of the sale, the insider now owns 1,043 shares of the company’s stock, valued at $31,342.15. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David Kirn sold 5,696 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $18.41, for a total transaction of $104,863.36. Following the completion of the sale, the chief executive officer now directly owns 1,151,154 shares of the company’s stock, valued at approximately $21,192,745.14. The disclosure for this sale can be found here. Insiders have sold a total of 147,888 shares of company stock worth $4,134,254 over the last ninety days. Insiders own 10.70% of the company’s stock.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of FDMT. RA Capital Management L.P. lifted its position in 4D Molecular Therapeutics by 35.6% during the third quarter. RA Capital Management L.P. now owns 4,163,211 shares of the company’s stock worth $52,998,000 after purchasing an additional 1,093,680 shares during the period. State Street Corp lifted its holdings in shares of 4D Molecular Therapeutics by 65.3% in the first quarter. State Street Corp now owns 2,042,189 shares of the company’s stock worth $35,105,000 after acquiring an additional 807,031 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of 4D Molecular Therapeutics by 415.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock worth $16,539,000 after acquiring an additional 658,069 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of 4D Molecular Therapeutics by 14.3% in the second quarter. BlackRock Inc. now owns 2,914,430 shares of the company’s stock worth $52,664,000 after acquiring an additional 363,695 shares during the last quarter. Finally, Novo Holdings A S lifted its holdings in shares of 4D Molecular Therapeutics by 25.0% in the fourth quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock worth $30,390,000 after acquiring an additional 300,000 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

4D Molecular Therapeutics Price Performance

The stock has a market cap of $1.39 billion, a P/E ratio of -9.87 and a beta of 2.87. The business’s fifty day moving average price is $29.20 and its 200 day moving average price is $19.96.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its earnings results on Thursday, February 29th. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.09). The company had revenue of ($0.02) million during the quarter, compared to the consensus estimate of $4.67 million. 4D Molecular Therapeutics had a negative return on equity of 34.14% and a negative net margin of 436.30%. On average, analysts predict that 4D Molecular Therapeutics, Inc. will post -3.03 earnings per share for the current fiscal year.

About 4D Molecular Therapeutics

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.