4D Molecular Therapeutics (NASDAQ:FDMT) Shares Gap Up to $14.73

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) shares gapped up prior to trading on Friday . The stock had previously closed at $14.73, but opened at $15.68. 4D Molecular Therapeutics shares last traded at $15.79, with a volume of 41,878 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently commented on FDMT. HC Wainwright reissued a “buy” rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a research note on Friday, June 7th. 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 report on Thursday, July 18th. Chardan Capital restated a “buy” rating and set a $38.00 target price on shares of 4D Molecular Therapeutics in a report on Wednesday, July 17th. Barclays assumed coverage on shares of 4D Molecular Therapeutics in a report on Monday, April 15th. They issued an “overweight” rating for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $40.00 price objective on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $43.63.

4D Molecular Therapeutics Stock Performance

The stock has a market capitalization of $811.22 million, a price-to-earnings ratio of -6.61 and a beta of 2.83. The firm has a fifty day moving average of $20.98 and a 200-day moving average of $24.71.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.66) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.07. The firm had revenue of $0.03 million for the quarter, compared to analyst estimates of $1.44 million. On average, analysts predict that 4D Molecular Therapeutics, Inc. will post -2.98 EPS for the current year.

Insider Transactions at 4D Molecular Therapeutics

In related news, insider Scott Bizily sold 1,750 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $27.11, for a total value 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 approximately $183,832.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other 4D Molecular Therapeutics news, insider Scott Bizily sold 1,750 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $27.11, for a total transaction of $47,442.50. Following the transaction, the insider now directly owns 6,781 shares in the company, valued at $183,832.91. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO David Kirn sold 12,923 shares of the 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 transaction, 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. In the last 90 days, insiders sold 35,597 shares of company stock valued at $821,939. Insiders own 7.30% of the company’s stock.

Institutional Trading of 4D Molecular Therapeutics

Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its holdings in 4D Molecular Therapeutics by 415.8% during the fourth 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 period. Sectoral Asset Management Inc. acquired a new stake in 4D Molecular Therapeutics in the 4th quarter valued at approximately $2,887,000. Entropy Technologies LP bought a new position in 4D Molecular Therapeutics in the 1st quarter worth approximately $239,000. Kennedy Capital Management LLC acquired a new position in shares of 4D Molecular Therapeutics during the first quarter worth approximately $4,358,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of 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 valued at $110,000 after acquiring an additional 3,026 shares during the period. 99.27% of the stock is owned by institutional investors.

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.