4D Molecular Therapeutics (NASDAQ:FDMT) Upgraded to “Equal Weight” at Morgan Stanley

Morgan Stanley upgraded shares of 4D Molecular Therapeutics (NASDAQ:FDMT) from an underweight rating to an equal weight rating in a report released on Friday, MarketBeat.com reports.

Several other analysts also recently weighed in on FDMT. Leerink Partners reaffirmed an “outperform” rating and set a $17.00 target price on shares of 4D Molecular Therapeutics in a research note on Friday, October 31st. Weiss Ratings restated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research note on Wednesday, October 8th. Chardan Capital reaffirmed a “buy” rating and issued a $25.00 price objective on shares of 4D Molecular Therapeutics in a report on Tuesday, August 12th. Roth Capital decreased their target price on shares of 4D Molecular Therapeutics from $44.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $26.00 target price on shares of 4D Molecular Therapeutics in a research note on Tuesday, October 21st. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.50.

4D Molecular Therapeutics Stock Down 3.8%

NASDAQ FDMT traded down $0.42 on Friday, hitting $10.50. The stock had a trading volume of 1,207,861 shares, compared to its average volume of 970,228. The company’s 50-day moving average is $8.91 and its two-hundred day moving average is $6.01. 4D Molecular Therapeutics has a one year low of $2.23 and a one year high of $12.34. The stock has a market cap of $490.35 million, a price-to-earnings ratio of -2.97 and a beta of 2.96.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.10). 4D Molecular Therapeutics had a negative net margin of 594,375.81% and a negative return on equity of 40.15%. The business had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.52 million. On average, sell-side analysts anticipate that 4D Molecular Therapeutics will post -2.84 earnings per share for the current year.

Insider Activity

In related news, insider Scott Bizily sold 2,678 shares of 4D Molecular Therapeutics stock in a transaction on Friday, October 24th. The stock was sold at an average price of $12.00, for a total value of $32,136.00. Following the transaction, the insider directly owned 3,594 shares in the company, valued at $43,128. The trade was a 42.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders sold 9,128 shares of company stock valued at $92,100. Insiders own 9.60% of the company’s stock.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Abich Financial Wealth Management LLC purchased a new position in 4D Molecular Therapeutics in the 3rd quarter worth about $80,000. AlphaQuest LLC acquired a new position in shares of 4D Molecular Therapeutics in the third quarter worth about $133,000. Impact Partnership Wealth LLC purchased a new position in shares of 4D Molecular Therapeutics in the third quarter worth approximately $96,000. Ballentine Partners LLC purchased a new position in shares of 4D Molecular Therapeutics in the third quarter worth approximately $142,000. Finally, Strs Ohio acquired a new stake in shares of 4D Molecular Therapeutics during the third quarter valued at approximately $218,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

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.