4D Molecular Therapeutics (NASDAQ:FDMT) Shares Down 4.2% – Here’s Why

by · The Markets Daily

4D Molecular Therapeutics, Inc. (NASDAQ:FDMTGet Free Report)’s share price fell 4.2% during mid-day trading on Wednesday . The company traded as low as $11.03 and last traded at $11.0390. 88,569 shares traded hands during trading, a decline of 90% from the average session volume of 849,719 shares. The stock had previously closed at $11.52.

Analyst Ratings Changes

Several brokerages have recently commented on FDMT. Morgan Stanley raised 4D Molecular Therapeutics from an “underweight” rating to an “equal weight” rating in a report on Friday, November 7th. Chardan Capital raised their target price on shares of 4D Molecular Therapeutics from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Royal Bank Of Canada lifted their target price on shares of 4D Molecular Therapeutics from $26.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. Wall Street Zen downgraded shares of 4D Molecular Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Finally, Leerink Partners reiterated an “outperform” rating and set a $17.00 price objective on shares of 4D Molecular Therapeutics in a research report on Friday, October 31st. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.70.

View Our Latest Research Report on 4D Molecular Therapeutics

4D Molecular Therapeutics Trading Down 12.4%

The company has a market cap of $576.50 million, a PE ratio of -2.68 and a beta of 2.96. The business’s 50-day simple moving average is $10.71 and its 200-day simple moving average is $7.45.

4D Molecular Therapeutics (NASDAQ:FDMTGet Free Report) last posted its quarterly earnings results on Monday, November 10th. The company reported ($1.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.01. 4D Molecular Therapeutics had a negative net margin of 174,314.17% and a negative return on equity of 47.27%. The business had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.40 million. On average, research analysts predict that 4D Molecular Therapeutics, Inc. will post -2.84 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Scott Bizily sold 2,678 shares of 4D Molecular Therapeutics stock in a transaction dated Friday, October 24th. The stock was 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 in the company, valued at $43,128. The trade was a 42.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 10,763 shares of company stock worth $109,415. 9.60% of the stock is owned by insiders.

Institutional Trading of 4D Molecular Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. BVF Inc. IL raised its holdings in shares of 4D Molecular Therapeutics by 1.5% during the 2nd quarter. BVF Inc. IL now owns 4,629,289 shares of the company’s stock valued at $17,175,000 after purchasing an additional 68,000 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of 4D Molecular Therapeutics by 33.4% in the 2nd quarter. Federated Hermes Inc. now owns 1,667,338 shares of the company’s stock valued at $6,186,000 after acquiring an additional 417,157 shares in the last quarter. Millennium Management LLC lifted its holdings in 4D Molecular Therapeutics by 15.0% in the 1st quarter. Millennium Management LLC now owns 1,633,987 shares of the company’s stock worth $5,278,000 after purchasing an additional 213,264 shares during the last quarter. Armistice Capital LLC boosted its position in 4D Molecular Therapeutics by 265.3% during the third quarter. Armistice Capital LLC now owns 1,096,000 shares of the company’s stock worth $9,524,000 after purchasing an additional 796,000 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in 4D Molecular Therapeutics by 2.3% during the third quarter. Assenagon Asset Management S.A. now owns 663,657 shares of the company’s stock valued at $5,767,000 after purchasing an additional 14,832 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

4D Molecular Therapeutics Company Profile

(Get Free Report)

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.

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