4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Sees Significant Drop in Short Interest

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) was the target of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 9,490,000 shares, a decrease of 13.2% from the September 30th total of 10,930,000 shares. Based on an average daily volume of 792,200 shares, the short-interest ratio is presently 12.0 days.

4D Molecular Therapeutics Price Performance

Shares of FDMT traded down $0.35 during trading hours on Tuesday, hitting $8.22. 342,327 shares of the stock were exchanged, compared to its average volume of 898,521. 4D Molecular Therapeutics has a fifty-two week low of $7.90 and a fifty-two week high of $36.25. The business has a 50-day moving average of $12.27 and a 200-day moving average of $18.69. The firm has a market capitalization of $427.19 million, a P/E ratio of -3.73 and a beta of 2.77.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate 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. As a group, analysts forecast that 4D Molecular Therapeutics will post -2.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its holdings 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 purchasing an additional 3,026 shares during the period. nVerses Capital LLC acquired a new stake in 4D Molecular Therapeutics in the third quarter worth $40,000. Values First Advisors Inc. acquired a new stake in 4D Molecular Therapeutics in the third quarter worth $57,000. Quest Partners LLC grew its holdings in 4D Molecular Therapeutics by 17,409.1% in the second quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock worth $121,000 after purchasing an additional 5,745 shares during the period. Finally, Entropy Technologies LP acquired a new stake in 4D Molecular Therapeutics in the first quarter worth $239,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on FDMT shares. Chardan Capital increased their price objective on shares of 4D Molecular Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. HC Wainwright reaffirmed a “buy” rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. Cantor Fitzgerald downgraded shares of 4D Molecular Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, September 23rd. BMO Capital Markets dropped their price target on shares of 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, July 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price target on shares of 4D Molecular Therapeutics in a research note on Monday, July 22nd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, 4D Molecular Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $47.14.

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.