4D Molecular Therapeutics (NASDAQ:FDMT) Shares Down 2.3%

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) traded down 2.3% during mid-day trading on Wednesday . The company traded as low as $26.13 and last traded at $26.13. 43,923 shares traded hands during trading, a decline of 96% from the average session volume of 1,080,685 shares. The stock had previously closed at $26.75.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. BMO Capital Markets cut their price objective on 4D Molecular Therapeutics from $70.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, April 1st. HC Wainwright reissued a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a report on Friday, March 1st. The Goldman Sachs Group reissued a “buy” rating and set a $81.00 price objective on shares of 4D Molecular Therapeutics in a report on Wednesday, February 7th. Jefferies Financial Group lifted their price objective on 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, Barclays assumed coverage on 4D Molecular Therapeutics in a report on Monday. They set an “overweight” rating for the company. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $44.22.

4D Molecular Therapeutics Stock Down 4.2 %

The stock has a fifty day moving average of $29.07 and a 200-day moving average of $20.06. The firm has a market capitalization of $1.31 billion, a P/E ratio of -10.06 and a beta of 2.87.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.77) earnings per share (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 business had revenue of ($0.02) million during the quarter, compared to the consensus estimate of $4.67 million. As a group, analysts forecast that 4D Molecular Therapeutics, Inc. will post -3.03 EPS for the current fiscal year.

Insider Buying and Selling at 4D Molecular Therapeutics

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 5,833 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $35.04, for a total transaction of $204,388.32. Following the transaction, the insider now directly owns 1,737 shares in the company, valued at approximately $60,864.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other 4D Molecular Therapeutics news, insider Scott Bizily sold 5,833 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $35.04, for a total transaction of $204,388.32. Following the transaction, the insider now directly owns 1,737 shares in the company, valued at approximately $60,864.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David Kirn sold 92,001 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $27.13, for a total transaction of $2,495,987.13. Following the transaction, the chief executive officer now owns 1,059,153 shares in the company, valued at $28,734,820.89. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,888 shares of company stock worth $4,134,254. Company insiders own 10.70% of the company’s stock.

Institutional Trading of 4D Molecular Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in shares of 4D Molecular Therapeutics by 4.5% in the 4th quarter. Wellington Management Group LLP now owns 180,475 shares of the company’s stock valued at $3,656,000 after acquiring an additional 7,753 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of 4D Molecular Therapeutics by 415.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock valued at $16,539,000 after acquiring an additional 658,069 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of 4D Molecular Therapeutics by 5.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 22,596 shares of the company’s stock valued at $458,000 after acquiring an additional 1,106 shares during the last quarter. Virtus ETF Advisers LLC increased its stake in shares of 4D Molecular Therapeutics by 24.4% in 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 during the last quarter. Finally, Barclays PLC increased its stake in shares of 4D Molecular Therapeutics by 47.0% in the 4th quarter. Barclays PLC now owns 108,709 shares of the company’s stock valued at $2,202,000 after acquiring an additional 34,774 shares during the last quarter. 99.27% of the stock is owned by institutional investors.

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.