4D Molecular Therapeutics’ (FDMT) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a report issued on Thursday, Benzinga reports. HC Wainwright currently has a $36.00 price target on the stock.

A number of other research analysts also recently commented on FDMT. BMO Capital Markets dropped their target price on shares of 4D Molecular Therapeutics from $63.00 to $40.00 and set an outperform rating on the stock in a research report on Thursday, July 18th. Cantor Fitzgerald restated an overweight rating on shares of 4D Molecular Therapeutics in a research note on Monday, September 9th. Chardan Capital reiterated a buy rating and set a $38.00 target price on shares of 4D Molecular Therapeutics in a research report on Wednesday, July 17th. Finally, 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. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, 4D Molecular Therapeutics presently has an average rating of Buy and an average target price of $45.25.

4D Molecular Therapeutics Stock Performance

NASDAQ:FDMT opened at $11.90 on Thursday. 4D Molecular Therapeutics has a 1 year low of $9.44 and a 1 year high of $36.25. The stock has a market cap of $615.27 million, a P/E ratio of -4.88 and a beta of 2.80. The stock has a 50-day simple moving average of $16.12 and a 200-day simple moving average of $22.59.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its earnings results 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 business had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $1.90 million. On average, equities research analysts predict that 4D Molecular Therapeutics will post -2.75 EPS for the current year.

Insider Activity at 4D Molecular Therapeutics

In other news, insider Scott Bizily sold 4,248 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $21.36, for a total value of $90,737.28. Following the completion of the sale, the insider now owns 1,737 shares in the company, valued at approximately $37,102.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 4D Molecular Therapeutics news, CEO David Kirn sold 12,923 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $22.49, for a total transaction of $290,638.27. Following the transaction, the chief executive officer now owns 1,059,153 shares in the company, valued at approximately $23,820,350.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott Bizily sold 4,248 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $21.36, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 34,347 shares of company stock worth $785,566 in the last three months. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in shares of 4D Molecular Therapeutics by 6.0% during the 1st 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 in the last quarter. Principal Financial Group Inc. boosted its holdings in 4D Molecular Therapeutics by 9.6% during the second quarter. Principal Financial Group Inc. now owns 21,034 shares of the company’s stock worth $442,000 after buying an additional 1,849 shares in the last quarter. Algert Global LLC grew its position in 4D Molecular Therapeutics by 20.6% during the second quarter. Algert Global LLC now owns 16,588 shares of the company’s stock worth $348,000 after buying an additional 2,828 shares during the period. Allspring Global Investments Holdings LLC increased 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 valued at $110,000 after buying an additional 3,026 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of 4D Molecular Therapeutics by 12.6% during the 1st quarter. California State Teachers Retirement System now owns 28,490 shares of the company’s stock valued at $908,000 after acquiring an additional 3,197 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

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.