Redmile Group LLC Acquires New Shares in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Redmile Group LLC bought a new position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,261,427 shares of the company’s stock, valued at approximately $40,189,000. 4D Molecular Therapeutics accounts for approximately 1.5% of Redmile Group LLC’s holdings, making the stock its 25th largest position. Redmile Group LLC owned 2.44% of 4D Molecular Therapeutics as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in FDMT. Daiwa Securities Group Inc. increased its position in 4D Molecular Therapeutics by 23.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,872 shares of the company’s stock valued at $119,000 after acquiring an additional 1,110 shares during the period. Price T Rowe Associates Inc. MD lifted its position in 4D Molecular Therapeutics by 6.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,952 shares of the company’s stock worth $764,000 after purchasing an additional 1,356 shares during the period. Bfsg LLC bought a new position in 4D Molecular Therapeutics during the fourth quarter valued at about $30,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 4D Molecular Therapeutics by 14.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,612 shares of the company’s stock valued at $438,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings 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 worth $110,000 after buying an additional 3,026 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors.

Insider Activity at 4D Molecular Therapeutics

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 1,750 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $27.11, for a total value of $47,442.50. Following the sale, the insider now owns 6,781 shares of the company’s stock, valued at approximately $183,832.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other 4D Molecular Therapeutics news, insider Scott Bizily sold 1,750 shares of 4D Molecular Therapeutics stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $27.11, for a total transaction of $47,442.50. Following the completion of the transaction, the insider now directly owns 6,781 shares of the company’s stock, valued at $183,832.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Kirn sold 12,923 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $22.49, for a total transaction of $290,638.27. Following the completion of the sale, the chief executive officer now directly owns 1,059,153 shares in the company, valued at approximately $23,820,350.97. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,597 shares of company stock worth $821,939. Company insiders own 7.30% of the company’s stock.

4D Molecular Therapeutics Trading Down 6.7 %

FDMT traded down $1.23 during trading on Monday, hitting $17.12. The stock had a trading volume of 509,249 shares, compared to its average volume of 957,330. The firm has a market cap of $885.10 million, a PE ratio of -7.02 and a beta of 2.84. 4D Molecular Therapeutics, Inc. has a 12 month low of $9.44 and a 12 month high of $36.25. The company has a 50 day simple moving average of $22.42 and a 200-day simple moving average of $24.91.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its quarterly earnings data 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 analyst estimates of $1.44 million. As a group, sell-side analysts anticipate that 4D Molecular Therapeutics, Inc. will post -2.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on FDMT. Jefferies Financial Group upped their price objective on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 price objective on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. Barclays initiated coverage on shares of 4D Molecular Therapeutics in a research note on Monday, April 15th. They set an “overweight” rating on the stock. HC Wainwright reiterated a “buy” rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a report on Friday, June 7th. Finally, Chardan Capital reiterated a “buy” rating and issued a $38.00 price objective on shares of 4D Molecular Therapeutics in a research note on Wednesday, July 17th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, 4D Molecular Therapeutics presently has an average rating of “Buy” and a consensus target price of $43.63.

4D Molecular Therapeutics 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.