Bellevue Group AG Buys New Shares in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Bellevue Group AG acquired a new position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 15,700 shares of the company’s stock, valued at approximately $500,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bfsg LLC acquired a new position in 4D Molecular Therapeutics in the fourth quarter valued at approximately $30,000. Allspring Global Investments Holdings LLC lifted its position in shares of 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 valued at $110,000 after acquiring an additional 3,026 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in 4D Molecular Therapeutics by 359.3% during the fourth 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 in the last quarter. Daiwa Securities Group Inc. grew its holdings in 4D Molecular Therapeutics by 23.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,872 shares of the company’s stock worth $119,000 after purchasing an additional 1,110 shares during the period. Finally, Entropy Technologies LP bought a new stake in 4D Molecular Therapeutics in the first quarter valued at $239,000. 99.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at 4D Molecular Therapeutics

In other news, CEO David Kirn sold 12,930 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $23.10, for a total transaction of $298,683.00. Following the completion of the transaction, the chief executive officer now owns 1,059,153 shares of the company’s stock, valued at $24,466,434.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 4D Molecular Therapeutics news, insider Scott Bizily sold 1,750 shares of 4D Molecular Therapeutics stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $25.45, for a total transaction of $44,537.50. Following the completion of the sale, the insider now owns 1,737 shares of the company’s stock, valued at $44,206.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David Kirn sold 12,930 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $23.10, for a total transaction of $298,683.00. Following the completion of the sale, the chief executive officer now directly owns 1,059,153 shares in the company, valued at $24,466,434.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,597 shares of company stock valued at $821,939. Company insiders own 7.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Friday, June 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 target price on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. BMO Capital Markets dropped their price objective on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, July 18th. Jefferies Financial Group upped 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. Finally, Barclays initiated coverage on shares of 4D Molecular Therapeutics in a research report on Monday, April 15th. They set an “overweight” rating on the stock. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, 4D Molecular Therapeutics has a consensus rating of “Buy” and an average price target of $43.63.

4D Molecular Therapeutics Trading Down 7.5 %

Shares of NASDAQ FDMT traded down $1.37 during mid-day trading on Monday, hitting $16.98. The company had a trading volume of 230,094 shares, compared to its average volume of 955,392. The stock’s 50-day moving average price is $22.60 and its 200-day moving average price is $24.92. The company has a market capitalization of $877.87 million, a price-to-earnings ratio of -7.11 and a beta of 2.84. 4D Molecular Therapeutics, Inc. has a 1 year low of $9.44 and a 1 year high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.66) EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.07. The firm had revenue of $0.03 million during the quarter, compared to the consensus estimate of $1.44 million. As a group, equities research analysts forecast that 4D Molecular Therapeutics, Inc. will post -2.98 earnings per share for the current year.

4D Molecular Therapeutics 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.