4D Molecular Therapeutics (NASDAQ:FDMT) Upgraded to “Overweight” at Cantor Fitzgerald

4D Molecular Therapeutics (NASDAQ:FDMT) was upgraded by stock analysts at Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a research report issued on Monday, MarketBeat Ratings reports. The firm currently has a $20.00 price target on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 51.86% from the stock’s previous close.

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

4D Molecular Therapeutics Price Performance

NASDAQ:FDMT opened at $13.17 on Monday. 4D Molecular Therapeutics has a 52-week low of $6.47 and a 52-week high of $16.93. The stock has a fifty 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 quick ratio of 8.03 and a current ratio of 8.03. The firm has a market capitalization of $727.51 million, a price-to-earnings ratio of -5.01 and a beta of 2.74.

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

Insider Buying and Selling

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 9,810 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $12.00, for a total value of $117,720.00. Following the completion of the sale, the insider owned 8,617 shares in the company, valued at approximately $103,404. This trade represents a 53.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David Kirn sold 114,746 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $10.47, for a total value of $1,201,390.62. Following the transaction, the insider directly owned 942,485 shares in the company, valued at $9,867,817.95. This trade represents a 10.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 199,158 shares of company stock valued at $2,229,161 in the last ninety days. 7.90% of the stock is currently owned by corporate insiders.

Institutional Trading of 4D Molecular Therapeutics

Several large investors have recently bought and sold shares of the company. Opaleye Management Inc. grew its position in shares of 4D Molecular Therapeutics by 197.8% in the 2nd quarter. Opaleye Management Inc. now owns 334,437 shares of the company’s stock worth $4,448,000 after buying an additional 222,146 shares during the period. Engineers Gate Manager LP raised its stake in 4D Molecular Therapeutics by 132.0% during the second quarter. Engineers Gate Manager LP now owns 68,206 shares of the company’s stock valued at $907,000 after buying an additional 38,806 shares during the last quarter. California State Teachers Retirement System boosted its holdings in 4D Molecular Therapeutics by 239.5% in the second quarter. California State Teachers Retirement System now owns 8,246 shares of the company’s stock worth $110,000 after acquiring an additional 5,817 shares in the last quarter. AXQ Capital LP purchased a new stake in shares of 4D Molecular Therapeutics in the second quarter worth $186,000. Finally, Headlands Technologies LLC increased its holdings in shares of 4D Molecular Therapeutics by 20.6% during the second quarter. Headlands Technologies LLC now owns 19,238 shares of the company’s stock valued at $256,000 after acquiring an additional 3,282 shares in the last quarter. 99.27% of the stock is owned by institutional investors.

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.