4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Short Interest Update

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 10,930,000 shares, an increase of 14.8% from the September 15th total of 9,520,000 shares. Based on an average daily trading volume, of 1,040,000 shares, the days-to-cover ratio is currently 10.5 days.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. BMO Capital Markets decreased their price objective on 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. Leerink Partners reaffirmed an “outperform” rating and set a $36.00 price target (down from $40.00) on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 price objective on shares of 4D Molecular Therapeutics in a research note on Monday, July 22nd. HC Wainwright restated a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th. Finally, Chardan Capital lifted their target price on shares of 4D Molecular Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, 4D Molecular Therapeutics has an average rating of “Moderate Buy” and an average price target of $45.25.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of institutional investors have recently bought and sold shares of FDMT. Allspring Global Investments Holdings LLC increased its position in 4D Molecular Therapeutics by 702.1% during the 1st 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 in the last quarter. nVerses Capital LLC acquired a new stake in shares of 4D Molecular Therapeutics in the third quarter worth $40,000. Quest Partners LLC raised its stake in shares of 4D Molecular Therapeutics by 17,409.1% in the 2nd quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock valued at $121,000 after acquiring an additional 5,745 shares during the period. Entropy Technologies LP acquired a new position in shares of 4D Molecular Therapeutics during the 1st quarter valued at $239,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in 4D Molecular Therapeutics by 93.5% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,579 shares of the company’s stock worth $305,000 after purchasing an additional 4,628 shares during the period. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

4D Molecular Therapeutics Trading Down 2.6 %

Shares of FDMT traded down $0.23 during trading hours on Wednesday, reaching $8.66. The company had a trading volume of 508,879 shares, compared to its average volume of 903,260. The company has a market capitalization of $447.75 million, a price-to-earnings ratio of -3.55 and a beta of 2.77. 4D Molecular Therapeutics has a 12-month low of $8.53 and a 12-month high of $36.25. The firm has a 50 day simple moving average of $13.28 and a 200-day simple moving average of $19.86.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its earnings results on Thursday, August 8th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.09. The company had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $1.90 million. Sell-side analysts forecast that 4D Molecular Therapeutics will post -2.74 earnings per share for the current year.

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.