4D Molecular Therapeutics (NASDAQ:FDMT) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research note released on Monday morning, Benzinga reports. The brokerage currently has a $40.00 target price on the stock.

Other equities analysts have also issued reports about the stock. HC Wainwright reaffirmed a buy rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a research report on Friday, June 7th. Jefferies Financial Group raised their target price on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the stock a buy rating in a report on Monday, April 1st. BMO Capital Markets cut their price target on 4D Molecular Therapeutics from $63.00 to $40.00 and set an outperform rating for the company in a research note on Thursday, July 18th. Barclays assumed coverage on 4D Molecular Therapeutics in a research note on Monday, April 15th. They set an overweight rating on the stock. Finally, Chardan Capital reiterated a buy rating and set a $38.00 target price on shares of 4D Molecular Therapeutics in a research report on Wednesday, July 17th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $43.63.

4D Molecular Therapeutics Stock Performance

4D Molecular Therapeutics stock opened at $17.94 on Monday. The company has a market capitalization of $927.50 million, a price-to-earnings ratio of -7.35 and a beta of 2.83. 4D Molecular Therapeutics has a 12 month low of $9.44 and a 12 month high of $36.25. The stock’s 50 day moving average is $22.88 and its 200-day moving average is $24.90.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.66) EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.07. The firm had revenue of $0.03 million during the quarter, compared to analyst estimates of $1.44 million. As a group, equities research analysts predict that 4D Molecular Therapeutics will post -2.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Scott Bizily sold 1,750 shares of 4D Molecular Therapeutics stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $27.11, for a total value of $47,442.50. Following the transaction, the insider now owns 6,781 shares in the company, valued at approximately $183,832.91. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Scott Bizily sold 1,750 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $27.11, for a total transaction of $47,442.50. Following the completion of the sale, the insider now directly owns 6,781 shares in the company, valued at approximately $183,832.91. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO David Kirn sold 12,923 shares of 4D Molecular Therapeutics stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $22.49, for a total value of $290,638.27. Following the completion of the transaction, the chief executive officer now owns 1,059,153 shares in the company, valued at approximately $23,820,350.97. The disclosure for this sale can be found here. Insiders sold 35,597 shares of company stock worth $821,939 over the last three months. Insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in FDMT. Bfsg LLC acquired a new stake in 4D Molecular Therapeutics in the fourth quarter valued at approximately $30,000. China Universal Asset Management Co. Ltd. grew its position in 4D Molecular Therapeutics by 359.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,951 shares of the company’s stock worth $100,000 after acquiring an additional 3,873 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in 4D Molecular Therapeutics by 702.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock worth $110,000 after purchasing an additional 3,026 shares in the last quarter. Daiwa Securities Group Inc. raised its position in 4D Molecular Therapeutics by 23.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,872 shares of the company’s stock valued at $119,000 after purchasing an additional 1,110 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of 4D Molecular Therapeutics during the first quarter valued at about $239,000. 99.27% of the stock is owned by institutional investors.

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.