4D Molecular Therapeutics (NASDAQ:FDMT) Earns “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $40.00 target price on the stock.

Several other analysts have also recently commented on FDMT. BMO Capital Markets reduced their target price on 4D Molecular Therapeutics from $70.00 to $63.00 and set an outperform rating on the stock in a report on Monday, April 1st. Jefferies Financial Group lifted their target price on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the stock a buy rating in a research note on Monday, April 1st. Barclays assumed coverage on shares of 4D Molecular Therapeutics in a research report on Monday, April 15th. They set an overweight rating on the stock. Finally, HC Wainwright reissued a buy rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research report on Friday, June 7th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of Buy and a consensus target price of $45.63.

4D Molecular Therapeutics Stock Performance

Shares of NASDAQ:FDMT opened at $20.99 on Wednesday. 4D Molecular Therapeutics has a 52 week low of $9.44 and a 52 week high of $36.25. The firm has a market cap of $1.09 billion, a PE ratio of -8.60 and a beta of 2.89. The firm’s fifty day moving average is $24.42 and its 200-day moving average is $24.66.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its earnings results 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. 4D Molecular Therapeutics had a negative return on equity of 26.75% and a negative net margin of 436.30%. The business had revenue of $0.03 million during the quarter, compared to analyst estimates of $1.44 million. Sell-side analysts forecast that 4D Molecular Therapeutics 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 business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $25.74, for a total value of $45,045.00. Following the completion of the sale, the insider now directly owns 1,737 shares of the company’s stock, valued at approximately $44,710.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other 4D Molecular Therapeutics news, CEO David Kirn sold 12,930 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $23.10, for a total value of $298,683.00. Following the transaction, the chief executive officer now directly owns 1,059,153 shares of the company’s stock, valued at $24,466,434.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott Bizily sold 1,750 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $25.74, for a total transaction of $45,045.00. Following the sale, the insider now directly owns 1,737 shares of the company’s stock, valued at $44,710.38. The disclosure for this sale can be found here. Insiders have sold 24,583 shares of company stock valued at $647,368 in the last 90 days. 7.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Large investors have recently added to or reduced their stakes in the business. Sectoral Asset Management Inc. purchased a new stake in shares of 4D Molecular Therapeutics in the fourth quarter worth approximately $2,887,000. Trexquant Investment LP bought a new position in 4D Molecular Therapeutics during the 3rd quarter valued at $566,000. Wellington Management Group LLP lifted its stake in 4D Molecular Therapeutics by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 172,722 shares of the company’s stock valued at $2,199,000 after acquiring an additional 3,638 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in 4D Molecular Therapeutics by 359.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,951 shares of the company’s stock worth $100,000 after acquiring an additional 3,873 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of 4D Molecular Therapeutics by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 268,638 shares of the company’s stock worth $5,443,000 after acquiring an additional 10,130 shares in the last quarter. Institutional investors own 99.27% of the company’s stock.

4D Molecular Therapeutics Company 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.