Royal Bank Of Canada Forecasts Strong Price Appreciation for 4D Molecular Therapeutics (NASDAQ:FDMT) Stock

4D Molecular Therapeutics (NASDAQ:FDMT) had its price objective lifted by investment analysts at Royal Bank Of Canada from $26.00 to $32.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 191.70% from the stock’s current price.

Several other equities research analysts have also weighed in on FDMT. Roth Capital lowered their target price on shares of 4D Molecular Therapeutics from $44.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. Morgan Stanley raised shares of 4D Molecular Therapeutics from an “underweight” rating to an “equal weight” rating in a report on Friday, November 7th. Barclays cut their target price on shares of 4D Molecular Therapeutics from $38.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research report on Wednesday, October 8th. Finally, Chardan Capital lifted their price objective on 4D Molecular Therapeutics from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.70.

4D Molecular Therapeutics Trading Up 1.6%

FDMT stock opened at $10.97 on Tuesday. 4D Molecular Therapeutics has a 1-year low of $2.23 and a 1-year high of $12.34. The business’s 50 day moving average is $9.18 and its 200-day moving average is $6.18. The firm has a market cap of $512.32 million, a P/E ratio of -2.93 and a beta of 2.96.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its earnings results on Monday, November 10th. The company reported ($1.01) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.01. 4D Molecular Therapeutics had a negative return on equity of 47.27% and a negative net margin of 174,314.17%.The business had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.40 million. Sell-side analysts forecast that 4D Molecular Therapeutics will post -2.84 EPS for the current year.

Insider Buying and Selling

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 2,678 shares of the 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 approximately $43,128. This trade represents a 42.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 9,128 shares of company stock valued at $92,100. 9.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in 4D Molecular Therapeutics by 3.7% in the third quarter. Dimensional Fund Advisors LP now owns 58,006 shares of the company’s stock valued at $504,000 after acquiring an additional 2,069 shares during the last quarter. Russell Investments Group Ltd. lifted its position in 4D Molecular Therapeutics by 11.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 21,816 shares of the company’s stock valued at $81,000 after purchasing an additional 2,284 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of 4D Molecular Therapeutics by 117.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,952 shares of the company’s stock valued at $43,000 after purchasing an additional 2,674 shares during the last quarter. Peapod Lane Capital LLC boosted its stake in shares of 4D Molecular Therapeutics by 1.1% in the 3rd quarter. Peapod Lane Capital LLC now owns 322,081 shares of the company’s stock valued at $2,799,000 after purchasing an additional 3,544 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its position in shares of 4D Molecular Therapeutics by 35.6% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 16,369 shares of the company’s stock worth $61,000 after buying an additional 4,295 shares during the period. 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.