Short Interest in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Drops By 16.6%

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) was the target of a large drop in short interest in the month of February. As of February 15th, there was short interest totalling 6,170,000 shares, a drop of 16.6% from the January 31st total of 7,400,000 shares. Based on an average trading volume of 905,000 shares, the short-interest ratio is presently 6.8 days.

4D Molecular Therapeutics Stock Performance

FDMT traded up $0.19 during trading on Wednesday, reaching $4.16. The company had a trading volume of 731,126 shares, compared to its average volume of 840,162. The firm’s 50-day simple moving average is $5.15 and its 200 day simple moving average is $8.40. The company has a market cap of $192.31 million, a price-to-earnings ratio of -1.46 and a beta of 2.81. 4D Molecular Therapeutics has a 12-month low of $3.92 and a 12-month high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its earnings results on Friday, February 28th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.10). On average, sell-side analysts expect that 4D Molecular Therapeutics will post -2.84 EPS for the current year.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new position in 4D Molecular Therapeutics in the third quarter worth approximately $108,000. Privium Fund Management B.V. boosted its holdings in 4D Molecular Therapeutics by 146.3% in the third quarter. Privium Fund Management B.V. now owns 98,500 shares of the company’s stock worth $1,065,000 after purchasing an additional 58,500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in 4D Molecular Therapeutics during the third quarter worth $295,000. Intech Investment Management LLC acquired a new stake in shares of 4D Molecular Therapeutics in the third quarter worth about $268,000. Finally, Algert Global LLC boosted its stake in shares of 4D Molecular Therapeutics by 342.7% during the 3rd quarter. Algert Global LLC now owns 73,436 shares of the company’s stock worth $794,000 after acquiring an additional 56,848 shares in the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FDMT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research note on Wednesday, February 19th. HC Wainwright reissued a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a report on Monday. Chardan Capital lowered their target price on 4D Molecular Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday. Morgan Stanley dropped their price target on shares of 4D Molecular Therapeutics from $8.00 to $6.00 and set an “underweight” rating on the stock in a research report on Monday, January 13th. Finally, Royal Bank of Canada lowered their price target on 4D Molecular Therapeutics from $39.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.38.

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.