4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price Down 8.4% – Here’s Why

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)’s stock price dropped 8.4% during mid-day trading on Thursday. The company traded as low as $13.96 and last traded at $13.7460. Approximately 626,080 shares traded hands during trading, a decline of 25% from the average session volume of 833,405 shares. The stock had previously closed at $15.00.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FDMT. Weiss Ratings reissued a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a report on Friday, July 17th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $32.00 price objective on shares of 4D Molecular Therapeutics in a research note on Thursday, August 13th. Cantor Fitzgerald raised shares of 4D Molecular Therapeutics from a “neutral” rating to an “overweight” rating and set a $20.00 target price on the stock in a report on Monday, September 14th. B. Riley Financial reiterated a “buy” rating on shares of 4D Molecular Therapeutics in a research note on Monday, August 17th. Finally, HC Wainwright reissued a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.56.

4D Molecular Therapeutics Stock Down 1.6%

The company has a debt-to-equity ratio of 0.05, a current ratio of 8.03 and a quick ratio of 8.03. The company has a market cap of $799.32 million, a PE ratio of -5.50 and a beta of 2.74. The company has a fifty day moving average price of $13.17 and a 200 day moving average price of $11.07.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.02). 4D Molecular Therapeutics had a negative return on equity of 41.33% and a negative net margin of 194.74%.The company had revenue of $3.78 million during the quarter, compared to the consensus estimate of $3.62 million. As a group, analysts anticipate that 4D Molecular Therapeutics, Inc. will post -4.07 EPS for the current year.

Insider Activity at 4D Molecular Therapeutics

In other news, insider David Kirn sold 58,333 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $13.90, for a total transaction of $810,828.70. Following the sale, the insider owned 767,486 shares in the company, valued at approximately $10,668,055.40. This trade represents a 7.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 134,570 shares of company stock valued at $1,743,197. 7.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Opaleye Management Inc. raised its position in 4D Molecular Therapeutics by 197.8% during the second quarter. Opaleye Management Inc. now owns 334,437 shares of the company’s stock valued at $4,448,000 after purchasing an additional 222,146 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in shares of 4D Molecular Therapeutics by 132.0% in the 2nd quarter. Engineers Gate Manager LP now owns 68,206 shares of the company’s stock worth $907,000 after purchasing an additional 38,806 shares in the last quarter. AXQ Capital LP bought a new position in shares of 4D Molecular Therapeutics during the 2nd quarter valued at about $186,000. Headlands Technologies LLC increased its position in shares of 4D Molecular Therapeutics by 20.6% during the 2nd quarter. Headlands Technologies LLC now owns 19,238 shares of the company’s stock valued at $256,000 after purchasing an additional 3,282 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of 4D Molecular Therapeutics during the 2nd quarter valued at about $148,000. Institutional investors own 99.27% of the company’s stock.

About 4D Molecular Therapeutics

4D Molecular Therapeutics, Inc is a clinical-stage biotechnology company developing genetic medicines for serious diseases with significant unmet medical needs. The company uses its Therapeutic Vector Evolution platform to engineer and select adeno-associated virus (AAV) vectors designed to deliver genetic payloads to specific tissues and support the development of potentially durable, one-time treatments.

Its research and development programs have focused primarily on ophthalmic and pulmonary diseases.