4D Molecular Therapeutics (NASDAQ:FDMT) Stock Rating Reaffirmed by Leerink Partners

Leerink Partners restated their outperform rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research report sent to investors on Thursday, Benzinga reports. Leerink Partners currently has a $36.00 price objective on the stock, down from their previous price objective of $40.00.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada restated an outperform rating and set a $40.00 target price on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. Cantor Fitzgerald reissued an overweight rating on shares of 4D Molecular Therapeutics in a report on Monday, September 9th. Chardan Capital reaffirmed a buy rating and issued a $38.00 target price on shares of 4D Molecular Therapeutics in a research note on Wednesday, July 17th. BMO Capital Markets cut their price target on shares of 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. Finally, HC Wainwright restated a buy rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research report on Thursday. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $45.25.

4D Molecular Therapeutics Stock Down 11.9 %

Shares of FDMT opened at $11.90 on Thursday. The business’s 50-day moving average price is $16.12 and its 200-day moving average price is $22.55. 4D Molecular Therapeutics has a twelve month low of $9.44 and a twelve month high of $36.25. The stock has a market cap of $615.27 million, a PE ratio of -4.88 and a beta of 2.80.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its earnings results on Thursday, August 8th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.09. The firm had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $1.90 million. Analysts expect that 4D Molecular Therapeutics will post -2.75 earnings per share for the current fiscal year.

Insider Transactions at 4D Molecular Therapeutics

In related news, insider Scott Bizily sold 4,248 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $21.36, for a total transaction of $90,737.28. Following the completion of the sale, the insider now directly owns 1,737 shares in the company, valued at approximately $37,102.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other 4D Molecular Therapeutics news, insider Scott Bizily sold 4,248 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $21.36, for a total value of $90,737.28. Following the completion of the sale, the insider now owns 1,737 shares in the company, valued at $37,102.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Kirn sold 12,923 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $22.49, for a total value of $290,638.27. Following the sale, the chief executive officer now directly owns 1,059,153 shares of the company’s stock, valued at approximately $23,820,350.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,417 shares of company stock worth $486,883. Company insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of large investors have recently added to or reduced their stakes in FDMT. Allspring Global Investments Holdings LLC grew its stake in shares of 4D Molecular Therapeutics by 702.1% in the first 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 during the last quarter. Quest Partners LLC lifted its holdings in 4D Molecular Therapeutics by 17,409.1% in the 2nd quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock worth $121,000 after buying an additional 5,745 shares during the period. Entropy Technologies LP bought a new stake in shares of 4D Molecular Therapeutics in the 1st quarter worth approximately $239,000. Hsbc Holdings PLC purchased a new position in shares of 4D Molecular Therapeutics during the second quarter valued at approximately $246,000. Finally, American Century Companies Inc. bought a new position in shares of 4D Molecular Therapeutics during the second quarter valued at approximately $268,000. Institutional investors own 99.27% of the company’s stock.

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.