Chardan Capital Issues Positive Forecast for 4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price

4D Molecular Therapeutics (NASDAQ:FDMT) had its price target lifted by Chardan Capital from $25.00 to $26.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts also recently issued reports on FDMT. Leerink Partners restated an “outperform” rating and issued a $17.00 price target on shares of 4D Molecular Therapeutics in a research note on Friday, October 31st. Royal Bank Of Canada reissued an “outperform” rating and issued a $26.00 target price on shares of 4D Molecular Therapeutics in a research report on Tuesday, October 21st. Barclays decreased their price target on shares of 4D Molecular Therapeutics from $38.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research note on Wednesday, October 8th. Finally, Morgan Stanley raised shares of 4D Molecular Therapeutics from an “underweight” rating to an “equal weight” rating in a report on Friday, November 7th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.70.

4D Molecular Therapeutics Stock Performance

Shares of FDMT stock opened at $10.80 on Tuesday. 4D Molecular Therapeutics has a 52 week low of $2.23 and a 52 week high of $12.34. The company has a market capitalization of $504.36 million, a price-to-earnings ratio of -2.88 and a beta of 2.96. The company has a 50-day simple moving average of $9.09 and a 200 day simple moving average of $6.15.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its quarterly earnings data on Monday, November 10th. The company reported ($1.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.02) by $0.01. 4D Molecular Therapeutics had a negative net margin of 174,314.17% and a negative return on equity of 44.78%. The firm had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.40 million. Sell-side analysts forecast that 4D Molecular Therapeutics will post -2.84 EPS for the current year.

Insider Buying and Selling at 4D Molecular Therapeutics

In related news, insider Scott Bizily sold 2,678 shares of the stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $12.00, for a total transaction of $32,136.00. Following the sale, the insider owned 3,594 shares in the company, valued at approximately $43,128. This trade represents a 42.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 9,128 shares of company stock worth $92,100. Corporate insiders own 9.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FDMT. BVF Inc. IL lifted its stake in 4D Molecular Therapeutics by 70.8% during the first quarter. BVF Inc. IL now owns 4,561,289 shares of the company’s stock worth $14,733,000 after purchasing an additional 1,890,647 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of 4D Molecular Therapeutics by 33,131.8% during the 1st quarter. Federated Hermes Inc. now owns 1,250,181 shares of the company’s stock worth $4,038,000 after buying an additional 1,246,419 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of 4D Molecular Therapeutics by 1,103.4% during the 1st quarter. Acadian Asset Management LLC now owns 400,606 shares of the company’s stock worth $1,290,000 after buying an additional 367,317 shares in the last quarter. Millennium Management LLC lifted its position in shares of 4D Molecular Therapeutics by 15.0% during the 1st quarter. Millennium Management LLC now owns 1,633,987 shares of the company’s stock worth $5,278,000 after buying an additional 213,264 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its stake in 4D Molecular Therapeutics by 54.7% in the second quarter. Raymond James Financial Inc. now owns 455,470 shares of the company’s stock valued at $1,690,000 after buying an additional 161,091 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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.