4D Molecular Therapeutics (NASDAQ:FDMT) Stock Rating Reaffirmed by Leerink Partners

Leerink Partners reissued their outperform rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research note published on Thursday, Benzinga reports. Leerink Partners currently has a $36.00 price target on the stock, down from their previous price target of $40.00.

Several other brokerages have also recently weighed in on FDMT. HC Wainwright reissued a buy rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Thursday. Royal Bank of Canada reaffirmed an outperform rating and issued a $40.00 price objective on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. BMO Capital Markets reduced their target price on shares of 4D Molecular Therapeutics from $63.00 to $40.00 and set an outperform rating for the company in a research report on Thursday, July 18th. Chardan Capital restated a buy rating and set a $38.00 price target on shares of 4D Molecular Therapeutics in a research note on Wednesday, July 17th. Finally, Cantor Fitzgerald reiterated an overweight rating on shares of 4D Molecular Therapeutics in a research note on Monday, September 9th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, 4D Molecular Therapeutics currently has a consensus rating of Buy and an average target price of $45.25.

4D Molecular Therapeutics Stock Performance

4D Molecular Therapeutics stock opened at $11.90 on Thursday. 4D Molecular Therapeutics has a 52 week low of $9.44 and a 52 week high of $36.25. The stock has a market capitalization of $615.27 million, a P/E ratio of -4.88 and a beta of 2.80. The stock has a 50-day simple moving average of $16.12 and a 200 day simple moving average of $22.59.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.09. The business had revenue of $0.01 million during the quarter, compared to analyst estimates of $1.90 million. Research analysts forecast that 4D Molecular Therapeutics will post -2.75 earnings per share for the current year.

Insider Activity at 4D Molecular Therapeutics

In other 4D Molecular Therapeutics news, CEO David Kirn sold 12,930 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $23.10, for a total value of $298,683.00. Following the completion of the transaction, the chief executive officer now directly owns 1,059,153 shares in the company, valued at $24,466,434.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Scott Bizily sold 4,248 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $21.36, for a total value of $90,737.28. Following the completion of the sale, the insider now owns 1,737 shares in the company, valued at approximately $37,102.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Kirn sold 12,930 shares of the firm’s stock in a transaction dated 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 directly owns 1,059,153 shares in the company, valued at approximately $24,466,434.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,347 shares of company stock worth $785,566. 7.30% of the stock is owned by company insiders.

Institutional Trading of 4D Molecular Therapeutics

Institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of 4D Molecular Therapeutics by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 268,638 shares of the company’s stock valued at $5,443,000 after purchasing an additional 10,130 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of 4D Molecular Therapeutics by 29.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 19,835 shares of the company’s stock worth $400,000 after buying an additional 4,557 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of 4D Molecular Therapeutics by 266.0% during the 4th quarter. Franklin Resources Inc. now owns 52,564 shares of the company’s stock valued at $1,065,000 after acquiring an additional 38,202 shares during the last quarter. Sectoral Asset Management Inc. acquired a new position in shares of 4D Molecular Therapeutics during the 4th quarter valued at about $2,887,000. Finally, Goldman Sachs Group Inc. boosted 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 valued at $16,539,000 after acquiring an additional 658,069 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

4D Molecular Therapeutics Company Profile

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.