4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price Up 8.7% – What’s Next?
by Michael Walen · The Markets Daily4D Molecular Therapeutics, Inc. (NASDAQ:FDMT – Get Free Report)’s stock price rose 8.7% during trading on Wednesday . The stock traded as high as $9.98 and last traded at $9.98. Approximately 333,548 shares changed hands during trading, a decline of 55% from the average daily volume of 741,537 shares. The stock had previously closed at $9.18.
Analyst Upgrades and Downgrades
FDMT has been the subject of a number of research analyst reports. HC Wainwright restated a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research note on Friday, March 20th. Barclays started coverage on 4D Molecular Therapeutics in a research note on Wednesday, January 28th. They set an “overweight” rating and a $33.00 price target on the stock. Chardan Capital reissued a “buy” rating and issued a $26.00 price objective on shares of 4D Molecular Therapeutics in a report on Thursday, March 19th. Royal Bank Of Canada lifted their target price on 4D Molecular Therapeutics from $32.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, March 19th. Finally, Wall Street Zen upgraded shares of 4D Molecular Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.71.
Check Out Our Latest Stock Report on FDMT
4D Molecular Therapeutics Trading Up 3.0%
The firm has a market cap of $519.70 million, a price-to-earnings ratio of -4.21 and a beta of 2.99. The company has a fifty day moving average price of $8.89 and a 200-day moving average price of $9.18.
4D Molecular Therapeutics (NASDAQ:FDMT – Get Free Report) last announced its quarterly earnings results on Wednesday, March 18th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.96. 4D Molecular Therapeutics had a negative net margin of 164.43% and a negative return on equity of 31.75%. The business had revenue of $85.09 million during the quarter, compared to analysts’ expectations of $30.86 million. As a group, research analysts forecast that 4D Molecular Therapeutics, Inc. will post -2.84 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC acquired a new stake in shares of 4D Molecular Therapeutics in the first quarter valued at $46,000. Millennium Management LLC boosted its holdings in 4D Molecular Therapeutics by 15.0% during the 1st quarter. Millennium Management LLC now owns 1,633,987 shares of the company’s stock valued at $5,278,000 after acquiring an additional 213,264 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in 4D Molecular Therapeutics in the 1st quarter valued at about $39,000. American Century Companies Inc. grew its position in 4D Molecular Therapeutics by 11.5% in the 2nd quarter. American Century Companies Inc. now owns 48,810 shares of the company’s stock valued at $181,000 after acquiring an additional 5,026 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in 4D Molecular Therapeutics during the second quarter worth about $292,000. 99.27% of the stock is currently owned by hedge funds and other institutional investors.
About 4D Molecular Therapeutics
4D Molecular Therapeutics, founded in 2015 and headquartered in Emeryville, California, is a clinical-stage biotechnology company focused on the development of targeted gene therapies for rare diseases. The company employs its proprietary Gene Expression AAV (GEA) platform to engineer novel adeno-associated virus (AAV) capsids with enhanced tissue selectivity and transduction efficiency. This platform aims to improve the precision and durability of gene delivery compared to traditional AAV approaches.
4D’s pipeline includes both preclinical and clinical-stage programs across multiple therapeutic areas.