4D Molecular Therapeutics (NASDAQ:FDMT) Upgraded at Cantor Fitzgerald

by · The Markets Daily

Cantor Fitzgerald upgraded shares of 4D Molecular Therapeutics (NASDAQ:FDMT – Free Report) from a neutral rating to an overweight rating in a report published on Monday, Marketbeat reports. They currently have $20.00 target price on the stock.

FDMT has been the subject of a number of other research reports. B. Riley Financial reissued a “buy” rating on shares of 4D Molecular Therapeutics in a research report on Monday, August 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a report on Friday, July 17th. HC Wainwright reiterated a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Monday, July 20th. The Goldman Sachs Group reissued a “buy” rating and set a $32.00 price objective on shares of 4D Molecular Therapeutics in a report on Thursday, August 13th. Finally, Chardan Capital raised shares of 4D Molecular Therapeutics to a “strong-buy” rating in a research report on Tuesday, July 28th. One investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.56.

View Our Latest Stock Report on FDMT

4D Molecular Therapeutics Stock Performance

Shares of FDMT stock opened at $13.76 on Monday. 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’s fifty day moving average price is $12.70 and its two-hundred day moving average price is $10.78. The firm has a market capitalization of $760.10 million, a P/E ratio of -5.23 and a beta of 2.74. 4D Molecular Therapeutics has a 12 month low of $6.47 and a 12 month high of $16.93.

4D Molecular Therapeutics (NASDAQ:FDMT – Get Free Report) last announced its 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). 4D Molecular Therapeutics had a negative net margin of 194.74% and a negative return on equity of 41.33%. The business had revenue of $3.78 million for the quarter, compared to analyst estimates of $3.62 million. On average, research analysts anticipate that 4D Molecular Therapeutics will post -4.07 earnings per share for the current fiscal year.

Insider Transactions at 4D Molecular Therapeutics

In other news, insider David Kirn sold 114,746 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $10.47, for a total transaction of $1,201,390.62. Following the completion of the transaction, the insider directly owned 942,485 shares of the company’s stock, valued at approximately $9,867,817.95. This represents a 10.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the insider owned 8,617 shares in the company, valued at $103,404. The trade was a 53.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 257,491 shares of company stock worth $3,039,990 in the last three months. 7.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FDMT. Legal & General Group Plc bought a new stake in 4D Molecular Therapeutics in the second quarter valued at $59,000. Gabelli Funds LLC acquired a new stake in shares of 4D Molecular Therapeutics in the 4th quarter worth about $90,000. Impact Partnership Wealth LLC lifted its position in 4D Molecular Therapeutics by 36.5% in the 4th quarter. Impact Partnership Wealth LLC now owns 15,123 shares of the company’s stock valued at $113,000 after purchasing an additional 4,045 shares during the last quarter. Sei Investments Co. lifted its position in 4D Molecular Therapeutics by 8.9% in the 1st quarter. Sei Investments Co. now owns 12,862 shares of the company’s stock valued at $120,000 after purchasing an additional 1,050 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in 4D Molecular Therapeutics by 14,343.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 18,054 shares of the company’s stock valued at $135,000 after purchasing an additional 17,929 shares during the period. 99.27% of the stock is currently owned by institutional investors.

About 4D Molecular Therapeutics

(Get Free Report)

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.

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