4D Molecular Therapeutics (NASDAQ:FDMT) Shares Up 7.4% – Here’s Why

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)’s stock price was up 7.4% during mid-day trading on Tuesday. The company traded as high as $13.13 and last traded at $13.1950. 90,859 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 851,308 shares. The stock had previously closed at $12.29.

Analyst Upgrades and Downgrades

FDMT has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research note on Thursday. Cantor Fitzgerald upgraded shares of 4D Molecular Therapeutics from a “neutral” rating to an “overweight” rating and set a $20.00 price target on the stock in a research report on Monday, September 14th. HC Wainwright reaffirmed a “buy” rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a research note on Monday, July 20th. B. Riley Financial reissued a “buy” rating on shares of 4D Molecular Therapeutics in a research report on Monday, August 17th. Finally, Bank of America lifted their price target on shares of 4D Molecular Therapeutics from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, September 29th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.90.

4D Molecular Therapeutics Trading Up 5.5%

The firm’s 50-day simple moving average is $14.02 and its 200 day simple moving average is $11.55. The firm has a market cap of $716.52 million, a P/E ratio of -4.93 and a beta of 2.75. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.05.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its earnings results on Thursday, August 13th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.78 million during the quarter, compared to analysts’ expectations of $3.62 million. As a group, analysts expect that 4D Molecular Therapeutics, Inc. will post -4.14 earnings per share for the current year.

Insider Activity at 4D Molecular Therapeutics

In related news, insider David Kirn sold 58,333 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $12.92, for a total value of $753,662.36. Following the completion of the transaction, the insider directly owned 709,153 shares of the company’s stock, valued at approximately $9,162,256.76. This trade represents a 7.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 134,570 shares of company stock worth $1,759,323. Corporate insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FDMT. Toth Financial Advisory Corp bought a new position in shares of 4D Molecular Therapeutics in the third quarter worth $29,000. Legal & General Group Plc purchased a new position in shares of 4D Molecular Therapeutics during the second quarter worth approximately $59,000. Sei Investments Co. lifted its stake in 4D Molecular Therapeutics by 8.9% in the first quarter. Sei Investments Co. now owns 12,862 shares of the company’s stock worth $120,000 after purchasing an additional 1,050 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in 4D Molecular Therapeutics by 14,343.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 18,054 shares of the company’s stock valued at $135,000 after acquiring an additional 17,929 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of 4D Molecular Therapeutics in the second quarter worth approximately $148,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

4D Molecular Therapeutics Company Profile

4D Molecular Therapeutics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for serious diseases. The company uses its Therapeutic Vector Evolution platform to engineer adeno-associated virus (AAV) vectors designed to deliver genetic medicines to specific tissues, including the eye and lungs.

Its investigational pipeline includes 4D-150, an intravitreal gene therapy being developed for retinal diseases such as wet age-related macular degeneration and diabetic macular edema.