4D Molecular Therapeutics (NASDAQ:FDMT) Given Buy Rating at HC Wainwright

4D Molecular Therapeutics (NASDAQ:FDMT)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research note issued on Thursday, Benzinga reports. They presently have a $36.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 202.52% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Chardan Capital restated a “buy” rating and issued a $38.00 target price on shares of 4D Molecular Therapeutics in a research note on Wednesday, July 17th. Royal Bank of Canada restated an “outperform” rating and issued a $40.00 target price on shares of 4D Molecular Therapeutics in a research note on Monday, July 22nd. Cantor Fitzgerald restated an “overweight” rating on shares of 4D Molecular Therapeutics in a research note on Monday, September 9th. Finally, BMO Capital Markets lowered their target price on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, July 18th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, 4D Molecular Therapeutics presently has an average rating of “Buy” and an average target price of $45.25.

4D Molecular Therapeutics Stock Down 11.9 %

4D Molecular Therapeutics stock opened at $11.90 on Thursday. 4D Molecular Therapeutics has a 12 month low of $9.44 and a 12 month high of $36.25. The stock has a market cap of $615.27 million, a P/E ratio of -4.88 and a beta of 2.80. The company’s fifty day simple moving average is $16.12 and its 200-day simple moving average is $22.59.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.09. The firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $1.90 million. On average, equities research analysts expect that 4D Molecular Therapeutics will post -2.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 4D Molecular Therapeutics 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 completion of the sale, 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 this link. In related news, insider Scott Bizily sold 4,248 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $21.36, for a total transaction of $90,737.28. Following the completion of the transaction, the insider now owns 1,737 shares of the company’s stock, valued at approximately $37,102.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 of the company’s stock, valued at approximately $24,466,434.30. The disclosure for this sale can be found here. Insiders sold 34,347 shares of company stock valued at $785,566 over the last quarter. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Several large investors have recently made changes to their positions in the business. RA Capital Management L.P. lifted its position in shares of 4D Molecular Therapeutics by 21.3% during the 1st quarter. RA Capital Management L.P. now owns 5,051,511 shares of the company’s stock worth $160,941,000 after purchasing an additional 888,300 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of 4D Molecular Therapeutics by 3.4% during the 1st quarter. Janus Henderson Group PLC now owns 3,197,444 shares of the company’s stock worth $101,844,000 after purchasing an additional 104,148 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of 4D Molecular Therapeutics by 25.3% during the 1st quarter. Vanguard Group Inc. now owns 2,339,943 shares of the company’s stock worth $74,551,000 after purchasing an additional 473,094 shares during the last quarter. Redmile Group LLC acquired a new position in shares of 4D Molecular Therapeutics during the 1st quarter worth about $40,189,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of 4D Molecular Therapeutics by 415.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock worth $16,539,000 after purchasing an additional 658,069 shares during the last quarter. Institutional investors and hedge funds 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.