4D Molecular Therapeutics (NASDAQ:FDMT) Trading 7% Higher

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) traded up 7% on Tuesday . The stock traded as high as $18.30 and last traded at $18.28. 1,377,409 shares traded hands during mid-day trading, an increase of 45% from the average session volume of 949,522 shares. The stock had previously closed at $17.08.

Analyst Upgrades and Downgrades

FDMT has been the topic of a number of research analyst reports. HC Wainwright reissued a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research report on Friday, June 7th. BMO Capital Markets dropped their price target on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, July 18th. Jefferies Financial Group increased their price objective on 4D Molecular Therapeutics from $30.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Chardan Capital reaffirmed a “buy” rating and issued a $38.00 target price on shares of 4D Molecular Therapeutics in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price objective on shares of 4D Molecular Therapeutics in a research report on Monday. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $43.63.

4D Molecular Therapeutics Trading Up 3.2 %

The firm has a fifty day moving average of $22.74 and a 200 day moving average of $24.86. The company has a market capitalization of $957.48 million, a P/E ratio of -7.59 and a beta of 2.83.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its earnings results on Thursday, May 9th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.73) by $0.07. The company had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $1.44 million. Sell-side analysts anticipate that 4D Molecular Therapeutics, Inc. will post -2.98 EPS for the current fiscal year.

Insider Transactions at 4D Molecular Therapeutics

In other 4D Molecular Therapeutics news, CEO David Kirn sold 12,930 shares of 4D Molecular Therapeutics stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $23.10, for a total transaction of $298,683.00. Following the transaction, the chief executive officer now owns 1,059,153 shares of the company’s stock, valued at $24,466,434.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO David Kirn sold 12,930 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $23.10, for a total value of $298,683.00. Following the transaction, the chief executive officer now directly owns 1,059,153 shares in the company, valued at $24,466,434.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott Bizily sold 1,750 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $25.45, for a total value of $44,537.50. Following the sale, the insider now owns 1,737 shares of the company’s stock, valued at approximately $44,206.65. The disclosure for this sale can be found here. Insiders sold 35,597 shares of company stock worth $821,939 in the last three months. Corporate insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Several hedge funds have recently modified their holdings of FDMT. Goldman Sachs Group Inc. increased its holdings in 4D Molecular Therapeutics by 415.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock valued at $16,539,000 after acquiring an additional 658,069 shares during the last quarter. Sectoral Asset Management Inc. purchased a new stake in shares of 4D Molecular Therapeutics in the fourth quarter worth about $2,887,000. Entropy Technologies LP bought a new position in 4D Molecular Therapeutics during the first quarter valued at approximately $239,000. Allspring Global Investments Holdings LLC boosted its stake 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 buying an additional 3,026 shares during the last quarter. Finally, Swiss National Bank grew its holdings in 4D Molecular Therapeutics by 29.9% during the 1st quarter. Swiss National Bank now owns 53,900 shares of the company’s stock valued at $1,717,000 after buying an additional 12,400 shares in the last quarter. 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.