4D Molecular Therapeutics (NASDAQ:FDMT) Trading Down 2.9%

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)’s share price traded down 2.9% during mid-day trading on Tuesday . The stock traded as low as $25.62 and last traded at $25.62. 241,148 shares were traded during trading, a decline of 77% from the average session volume of 1,054,143 shares. The stock had previously closed at $26.39.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FDMT shares. Royal Bank of Canada lifted their price objective on shares of 4D Molecular Therapeutics from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. BMO Capital Markets decreased their target price on shares of 4D Molecular Therapeutics from $70.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, April 1st. Jefferies Financial Group upped their price target on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, April 1st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $81.00 price objective on shares of 4D Molecular Therapeutics in a research note on Wednesday, February 7th. Finally, Barclays began coverage on 4D Molecular Therapeutics in a research note on Monday, April 15th. They issued an “overweight” rating for the company. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $44.22.

4D Molecular Therapeutics Stock Down 5.9 %

The stock’s fifty day simple moving average is $28.87 and its two-hundred day simple moving average is $20.44. The firm has a market cap of $1.27 billion, a PE ratio of -9.92 and a beta of 2.87.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.09). The firm had revenue of ($0.02) million for the quarter, compared to analysts’ expectations of $4.67 million. 4D Molecular Therapeutics had a negative net margin of 436.30% and a negative return on equity of 34.14%. On average, equities research analysts anticipate that 4D Molecular Therapeutics, Inc. will post -3.03 earnings per share for the current fiscal year.

Insider Buying and Selling at 4D Molecular Therapeutics

In related news, insider Scott Bizily sold 5,833 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $35.04, for a total value of $204,388.32. Following the transaction, the insider now directly owns 1,737 shares of the company’s stock, valued at approximately $60,864.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Robert Young Kim sold 24,552 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $30.05, for a total value of $737,787.60. Following the transaction, the insider now directly owns 1,043 shares of the company’s stock, valued at approximately $31,342.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Scott Bizily sold 5,833 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $35.04, for a total transaction of $204,388.32. Following the sale, the insider now directly owns 1,737 shares of the company’s stock, valued at $60,864.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,942 shares of company stock worth $4,074,435. Company insiders own 10.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Bfsg LLC purchased a new stake in shares of 4D Molecular Therapeutics during the 4th quarter worth approximately $30,000. China Universal Asset Management Co. Ltd. increased its stake in 4D Molecular Therapeutics by 359.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,951 shares of the company’s stock worth $100,000 after acquiring an additional 3,873 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in 4D Molecular Therapeutics by 702.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock valued at $110,000 after purchasing an additional 3,026 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of 4D Molecular Therapeutics by 23.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,872 shares of the company’s stock worth $119,000 after purchasing an additional 1,110 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in 4D Molecular Therapeutics during the third quarter worth $141,000. Hedge funds and other institutional investors 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.