4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Sees Significant Increase in Short Interest

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 9,320,000 shares, a growth of 9.6% from the March 15th total of 8,500,000 shares. Based on an average trading volume of 1,170,000 shares, the short-interest ratio is presently 8.0 days.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FDMT shares. Jefferies Financial Group lifted their price objective on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, April 1st. BMO Capital Markets decreased their price objective on shares of 4D Molecular Therapeutics from $70.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, April 1st. Royal Bank of Canada lifted their price objective on shares of 4D Molecular Therapeutics from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday. The Goldman Sachs Group reissued a “buy” rating and issued a $81.00 price objective on shares of 4D Molecular Therapeutics in a research note on Wednesday, February 7th. Finally, Barclays began coverage on shares of 4D Molecular Therapeutics in a research note on Monday. They set an “overweight” rating on the stock. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $44.22.

Insiders Place Their Bets

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 1,750 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $27.67, for a total transaction of $48,422.50. Following the completion of the sale, the insider now directly owns 1,737 shares in the company, valued at $48,062.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO David Kirn sold 5,696 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $18.41, for a total transaction of $104,863.36. Following the transaction, the chief executive officer now directly owns 1,151,154 shares of the company’s stock, valued at $21,192,745.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott Bizily sold 1,750 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $27.67, for a total transaction of $48,422.50. Following the transaction, the insider now directly owns 1,737 shares in the company, valued at $48,062.79. The disclosure for this sale can be found here. Insiders sold 147,888 shares of company stock worth $4,134,254 over the last three months. Insiders own 10.70% of the company’s stock.

Hedge Funds Weigh In On 4D Molecular Therapeutics

A number of hedge funds have recently modified their holdings of FDMT. Wellington Management Group LLP lifted its holdings in 4D Molecular Therapeutics by 4.5% in the fourth quarter. Wellington Management Group LLP now owns 180,475 shares of the company’s stock valued at $3,656,000 after buying an additional 7,753 shares during the period. Goldman Sachs Group Inc. lifted its holdings in 4D Molecular Therapeutics by 415.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock valued at $16,539,000 after buying an additional 658,069 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of 4D Molecular Therapeutics by 5.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,596 shares of the company’s stock valued at $458,000 after purchasing an additional 1,106 shares during the period. Virtus ETF Advisers LLC raised its holdings in shares of 4D Molecular Therapeutics by 24.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,574 shares of the company’s stock valued at $113,000 after purchasing an additional 1,095 shares during the period. Finally, Barclays PLC raised its holdings in shares of 4D Molecular Therapeutics by 47.0% during the fourth quarter. Barclays PLC now owns 108,709 shares of the company’s stock valued at $2,202,000 after purchasing an additional 34,774 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

4D Molecular Therapeutics Stock Performance

Shares of NASDAQ:FDMT traded down $0.65 during mid-day trading on Wednesday, reaching $26.10. 62,053 shares of the company’s stock were exchanged, compared to its average volume of 1,080,681. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -10.06 and a beta of 2.87. The business’s fifty day moving average price is $29.07 and its 200-day moving average price is $20.06. 4D Molecular Therapeutics has a twelve month low of $9.44 and a twelve month high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.09). The business had revenue of ($0.02) million for the quarter, compared to analyst estimates of $4.67 million. 4D Molecular Therapeutics had a negative return on equity of 34.14% and a negative net margin of 436.30%. Analysts predict that 4D Molecular Therapeutics will post -3.03 EPS for the current fiscal year.

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.