4D Molecular Therapeutics (NASDAQ:FDMT) Shares Up 7.3% After Analyst Upgrade

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) shares shot up 7.3% during trading on Monday after Cantor Fitzgerald upgraded the stock from a neutral rating to an overweight rating. Cantor Fitzgerald now has a $20.00 price target on the stock. 4D Molecular Therapeutics traded as high as $14.19 and last traded at $14.1350. 395,104 shares were traded during trading, a decline of 52% from the average session volume of 823,560 shares. The stock had previously closed at $13.17.

A number of other research analysts have also recently commented on the company. Chardan Capital upgraded 4D Molecular Therapeutics to a “strong-buy” rating in a research note on Tuesday, July 28th. Weiss Ratings restated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a report on Friday, July 17th. HC Wainwright restated a “buy” rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a research note on Monday, July 20th. B. Riley Financial restated a “buy” rating on shares of 4D Molecular Therapeutics in a research note on Monday, August 17th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $32.00 target price on shares of 4D Molecular Therapeutics in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.56.

Insiders Place Their Bets

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 9,810 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $12.00, for a total value of $117,720.00. Following the sale, the insider owned 8,617 shares in the company, valued at $103,404. The trade was a 53.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Kirn sold 12,415 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $10.05, for a total value of $124,770.75. Following the transaction, the insider owned 871,737 shares of the company’s stock, valued at $8,760,956.85. This represents a 1.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 199,158 shares of company stock worth $2,229,161. 7.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FDMT. Jupiter Topco LLC purchased a new stake in 4D Molecular Therapeutics during the second quarter valued at approximately $76,466,000. BlackRock Inc. purchased a new position in shares of 4D Molecular Therapeutics in the 2nd quarter worth approximately $60,463,000. Janus Henderson Group PLC increased its position in shares of 4D Molecular Therapeutics by 164.4% during the 4th quarter. Janus Henderson Group PLC now owns 4,635,875 shares of the company’s stock valued at $34,726,000 after purchasing an additional 2,882,508 shares during the last quarter. Trails Edge Capital Partners LP purchased a new stake in 4D Molecular Therapeutics during the 2nd quarter valued at $29,631,296. Finally, State Street Corp raised its holdings in 4D Molecular Therapeutics by 197.5% during the 4th quarter. State Street Corp now owns 2,688,880 shares of the company’s stock valued at $20,167,000 after buying an additional 1,785,106 shares during the period. Institutional investors own 99.27% of the company’s stock.

4D Molecular Therapeutics Stock Performance

The company has a market capitalization of $775.29 million, a P/E ratio of -5.32 and a beta of 2.74. The business has a 50-day moving average of $12.64 and a 200-day moving average of $10.70. The company has a debt-to-equity ratio of 0.05, a current ratio of 8.03 and a quick ratio of 8.03.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.02). 4D Molecular Therapeutics had a negative net margin of 194.74% and a negative return on equity of 41.33%. The firm had revenue of $3.78 million for the quarter, compared to the consensus estimate of $3.62 million. On average, sell-side analysts anticipate that 4D Molecular Therapeutics, Inc. will post -4.09 EPS for the current year.

4D Molecular Therapeutics Company Profile

4D Molecular Therapeutics, Inc is a clinical-stage biotechnology company developing genetic medicines for serious diseases with significant unmet medical needs. The company uses its Therapeutic Vector Evolution platform to engineer and select adeno-associated virus (AAV) vectors designed to deliver genetic payloads to specific tissues and support the development of potentially durable, one-time treatments.

Its research and development programs have focused primarily on ophthalmic and pulmonary diseases.