Royal Bank of Canada Reaffirms Outperform Rating for 4D Molecular Therapeutics (NASDAQ:FDMT)

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

A number of other analysts also recently commented on the company. Barclays initiated coverage on 4D Molecular Therapeutics in a research note on Monday, April 15th. They issued an overweight rating on the stock. Jefferies Financial Group boosted their target price on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the stock a buy rating in a report on Monday, April 1st. HC Wainwright restated a buy rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Friday, June 7th. Chardan Capital reaffirmed a buy rating and issued a $38.00 price target on shares of 4D Molecular Therapeutics in a report on Wednesday, July 17th. Finally, BMO Capital Markets reduced their price objective on 4D Molecular Therapeutics from $63.00 to $40.00 and set an outperform rating for the company in a research note on Thursday, July 18th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, 4D Molecular Therapeutics currently has an average rating of Buy and an average target price of $43.63.

4D Molecular Therapeutics Price Performance

FDMT stock opened at $17.94 on Monday. 4D Molecular Therapeutics has a fifty-two week low of $9.44 and a fifty-two week high of $36.25. The stock has a market cap of $927.50 million, a PE ratio of -7.35 and a beta of 2.83. The firm’s 50-day simple moving average is $22.88 and its 200 day simple moving average is $24.90.

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

Insider Activity at 4D Molecular Therapeutics

In other news, insider Scott Bizily sold 1,750 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $27.11, for a total value of $47,442.50. Following the completion of the sale, the insider now directly owns 6,781 shares of the company’s stock, valued at $183,832.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other 4D Molecular Therapeutics news, CEO David Kirn sold 12,923 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $22.49, for a total value of $290,638.27. Following the transaction, the chief executive officer now owns 1,059,153 shares in the company, valued at $23,820,350.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $47,442.50. Following the sale, the insider now directly owns 6,781 shares of the company’s stock, valued at $183,832.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,597 shares of company stock valued at $821,939. Company insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On 4D Molecular Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of 4D Molecular Therapeutics by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 172,722 shares of the company’s stock valued at $2,199,000 after purchasing an additional 3,638 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of 4D Molecular Therapeutics by 119.5% during the 4th quarter. SG Americas Securities LLC now owns 26,899 shares of the company’s stock valued at $545,000 after acquiring an additional 14,645 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of 4D Molecular Therapeutics by 359.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,951 shares of the company’s stock valued at $100,000 after acquiring an additional 3,873 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in 4D Molecular Therapeutics in the 4th quarter worth approximately $966,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in 4D Molecular Therapeutics by 14.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,612 shares of the company’s stock worth $438,000 after purchasing an additional 2,700 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.