4D Molecular Therapeutics (NASDAQ:FDMT) Stock Rating Lowered by Cantor Fitzgerald

Cantor Fitzgerald cut shares of 4D Molecular Therapeutics (NASDAQ:FDMT) from an overweight rating to a neutral rating in a research note released on Monday morning, MarketBeat.com reports. Cantor Fitzgerald also issued estimates for 4D Molecular Therapeutics’ FY2024 earnings at ($2.68) EPS.

Several other research firms also recently issued reports on FDMT. Chardan Capital lifted their price target on shares of 4D Molecular Therapeutics from $38.00 to $39.00 and gave the company a buy rating in a research report on Thursday, September 19th. BMO Capital Markets decreased 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. HC Wainwright restated a buy rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. Royal Bank of Canada reiterated an outperform rating and set a $40.00 price target on shares of 4D Molecular Therapeutics in a research note on Monday, July 22nd. Finally, Leerink Partners reissued an outperform rating and issued a $36.00 price objective (down from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $45.25.

4D Molecular Therapeutics Price Performance

FDMT stock opened at $11.28 on Monday. The company’s 50-day moving average is $15.37 and its 200-day moving average is $22.18. The stock has a market capitalization of $586.22 million, a PE ratio of -4.62 and a beta of 2.80. 4D Molecular Therapeutics has a 1 year low of $9.44 and a 1 year high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.09. The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $1.90 million. On average, analysts anticipate that 4D Molecular Therapeutics will post -2.75 earnings per share for the current fiscal year.

Insider Transactions at 4D Molecular Therapeutics

In related news, insider Scott Bizily sold 4,248 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 1,737 shares of the company’s stock, valued at $37,102.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 4D Molecular Therapeutics news, CEO David Kirn sold 12,923 shares of 4D Molecular Therapeutics stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $22.49, for a total value of $290,638.27. Following the sale, the chief executive officer now owns 1,059,153 shares of the company’s stock, valued at $23,820,350.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Scott Bizily sold 4,248 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $21.36, for a total transaction of $90,737.28. Following the transaction, the insider now directly owns 1,737 shares of the company’s stock, valued at $37,102.32. The disclosure for this sale can be found here. Insiders have sold 21,417 shares of company stock worth $486,883 in the last 90 days. Insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in 4D Molecular Therapeutics by 702.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock worth $110,000 after buying an additional 3,026 shares during the last quarter. Quest Partners LLC increased its holdings in 4D Molecular Therapeutics by 17,409.1% in the 2nd quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock worth $121,000 after acquiring an additional 5,745 shares during the last quarter. Entropy Technologies LP bought a new stake in 4D Molecular Therapeutics in the 1st quarter valued at about $239,000. China Universal Asset Management Co. Ltd. lifted its holdings in 4D Molecular Therapeutics by 93.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,579 shares of the company’s stock valued at $305,000 after purchasing an additional 4,628 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new stake in 4D Molecular Therapeutics during the first quarter valued at about $344,000. Institutional investors own 99.27% of the company’s stock.

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.