4D Molecular Therapeutics (NASDAQ:FDMT) Stock Rating Lowered by Cantor Fitzgerald

Cantor Fitzgerald downgraded shares of 4D Molecular Therapeutics (NASDAQ:FDMT) from an overweight rating to a neutral rating in a report issued on Monday morning, Marketbeat Ratings reports. Cantor Fitzgerald also issued estimates for 4D Molecular Therapeutics’ FY2024 earnings at ($2.68) EPS.

A number of other research firms have also recently weighed in on FDMT. HC Wainwright restated a buy rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a report on Thursday, September 19th. Chardan Capital raised their target price on shares of 4D Molecular Therapeutics from $38.00 to $39.00 and gave the company a buy rating in a research note on Thursday, September 19th. BMO Capital Markets reduced their price target on 4D Molecular Therapeutics from $63.00 to $40.00 and set an outperform rating on the stock in a research report on Thursday, July 18th. Leerink Partners reissued an outperform rating and issued a $36.00 price objective (down previously from $40.00) on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $40.00 target price on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $45.25.

4D Molecular Therapeutics Stock Down 2.8 %

Shares of NASDAQ:FDMT opened at $10.96 on Monday. The firm has a 50 day moving average of $15.28 and a 200 day moving average of $22.11. The company has a market capitalization of $569.59 million, a price-to-earnings ratio of -4.49 and a beta of 2.80. 4D Molecular Therapeutics has a 52 week low of $9.44 and a 52 week high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.09. The company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $1.90 million. On average, sell-side analysts expect that 4D Molecular Therapeutics will post -2.75 EPS for the current year.

Insider Buying and Selling at 4D Molecular Therapeutics

In other news, insider Scott Bizily sold 4,248 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 1,737 shares in the company, valued at $37,102.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO David Kirn sold 12,923 shares of the company’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott Bizily sold 4,248 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $21.36, for a total transaction of $90,737.28. Following the transaction, the insider now directly owns 1,737 shares of the company’s stock, valued at approximately $37,102.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,417 shares of company stock worth $486,883. 7.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 valued at $110,000 after buying an additional 3,026 shares during the period. Quest Partners LLC lifted its holdings in 4D Molecular Therapeutics by 17,409.1% in the second quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock valued at $121,000 after acquiring an additional 5,745 shares during the period. Entropy Technologies LP purchased a new stake in 4D Molecular Therapeutics in the 1st quarter worth approximately $239,000. China Universal Asset Management Co. Ltd. grew its stake in shares of 4D Molecular Therapeutics by 93.5% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,579 shares of the company’s stock worth $305,000 after purchasing an additional 4,628 shares during the period. Finally, ProShare Advisors LLC purchased a new position in shares of 4D Molecular Therapeutics during the 1st quarter valued at approximately $344,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

4D Molecular Therapeutics Company Profile

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.