4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price Down 8.4% – Time to Sell?

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) fell 8.4% on Thursday . The stock traded as low as $13.96 and last traded at $13.7460. Approximately 626,080 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 833,405 shares. The stock had previously closed at $15.00.

Analysts Set New Price Targets

Several equities analysts have issued reports on FDMT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research note on Friday, July 17th. The Goldman Sachs Group reissued a “buy” rating and set a $32.00 price objective on shares of 4D Molecular Therapeutics in a research report on Thursday, August 13th. B. Riley Financial reiterated a “buy” rating on shares of 4D Molecular Therapeutics in a report on Monday, August 17th. HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Monday, July 20th. Finally, Cantor Fitzgerald upgraded shares of 4D Molecular Therapeutics from a “neutral” rating to an “overweight” rating and set a $20.00 price objective for the company in a report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, 4D Molecular Therapeutics has an average rating of “Moderate Buy” and an average price target of $28.56.

4D Molecular Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 8.03 and a quick ratio of 8.03. The company has a 50 day simple moving average of $13.02 and a 200-day simple moving average of $11.00. The stock has a market capitalization of $776.56 million, a P/E ratio of -5.36 and a beta of 2.74.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its quarterly earnings data 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 firm had revenue of $3.78 million during the quarter, compared to analysts’ expectations of $3.62 million. 4D Molecular Therapeutics had a negative return on equity of 41.33% and a negative net margin of 194.74%. On average, equities analysts forecast that 4D Molecular Therapeutics, Inc. will post -4.07 EPS for the current year.

Insider Activity

In related news, insider David Kirn sold 58,333 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $13.90, for a total transaction of $810,828.70. Following the sale, the insider directly owned 767,486 shares in the company, valued at approximately $10,668,055.40. This represents a 7.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 134,570 shares of company stock valued at $1,743,197 over the last 90 days. Insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On 4D Molecular Therapeutics

A number of large investors have recently made changes to their positions in FDMT. Legal & General Group Plc purchased a new stake in 4D Molecular Therapeutics during the 2nd quarter worth about $59,000. Impact Partnership Wealth LLC increased its position in shares of 4D Molecular Therapeutics by 36.5% during the fourth quarter. Impact Partnership Wealth LLC now owns 15,123 shares of the company’s stock valued at $113,000 after buying an additional 4,045 shares during the period. Sei Investments Co. increased its position in shares of 4D Molecular Therapeutics by 8.9% during the first quarter. Sei Investments Co. now owns 12,862 shares of the company’s stock valued at $120,000 after buying an additional 1,050 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in shares of 4D Molecular Therapeutics by 14,343.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 18,054 shares of the company’s stock worth $135,000 after buying an additional 17,929 shares in the last quarter. Finally, Landing Point Financial Group LLC bought a new position in shares of 4D Molecular Therapeutics in the fourth quarter valued at approximately $142,000. 99.27% of the stock is owned by institutional investors.

About 4D Molecular Therapeutics

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.