4D Molecular Therapeutics (NASDAQ:FDMT) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of 4D Molecular Therapeutics (NASDAQ:FDMT) from an underweight rating to an equal weight rating in a report published on Friday, MarketBeat Ratings reports.

Other research analysts also recently issued reports about the stock. Leerink Partners reiterated an “outperform” rating and set a $17.00 price target on shares of 4D Molecular Therapeutics in a report on Friday, October 31st. Roth Capital lowered their target price on 4D Molecular Therapeutics from $44.00 to $38.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. Royal Bank Of Canada reissued an “outperform” rating and set a $26.00 price target on shares of 4D Molecular Therapeutics in a research note on Tuesday, October 21st. Chardan Capital restated a “buy” rating and issued a $25.00 price target on shares of 4D Molecular Therapeutics in a research report on Tuesday, August 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research report on Wednesday, October 8th. 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’s stock. Based on data from MarketBeat.com, 4D Molecular Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $28.50.

4D Molecular Therapeutics Trading Down 3.8%

FDMT stock opened at $10.50 on Friday. The firm has a 50-day moving average price of $8.91 and a 200-day moving average price of $6.04. 4D Molecular Therapeutics has a 12 month low of $2.23 and a 12 month high of $12.34. The stock has a market capitalization of $490.37 million, a P/E ratio of -2.97 and a beta of 2.96.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.10). 4D Molecular Therapeutics had a negative return on equity of 40.15% and a negative net margin of 594,375.81%.The company had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.52 million. As a group, equities analysts predict that 4D Molecular Therapeutics will post -2.84 EPS for the current fiscal year.

Insider Activity at 4D Molecular Therapeutics

In other news, insider Scott Bizily sold 2,678 shares of the business’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $12.00, for a total transaction of $32,136.00. Following the completion of the sale, the insider directly owned 3,594 shares of the company’s stock, valued at $43,128. The trade was a 42.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 9,128 shares of company stock worth $92,100 over the last ninety days. Insiders own 9.60% 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 stock. Y Intercept Hong Kong Ltd bought a new stake in 4D Molecular Therapeutics during the first quarter worth $41,000. Proficio Capital Partners LLC increased its holdings in 4D Molecular Therapeutics by 26.0% during the first quarter. Proficio Capital Partners LLC now owns 25,195 shares of the company’s stock worth $75,000 after buying an additional 5,195 shares during the last quarter. Federated Hermes Inc. grew its position 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 valued at $4,038,000 after acquiring an additional 1,246,419 shares during the period. Privium Fund Management B.V. increased its stake in shares of 4D Molecular Therapeutics by 8.3% during the 1st quarter. Privium Fund Management B.V. now owns 131,000 shares of the company’s stock worth $423,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in 4D Molecular Therapeutics by 318.3% during the first quarter. Invesco Ltd. now owns 117,768 shares of the company’s stock valued at $380,000 after purchasing an additional 89,611 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.