4D Molecular Therapeutics (NASDAQ:FDMT) Shares Gap Up to $26.35

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) gapped up before the market opened on Monday . The stock had previously closed at $26.35, but opened at $27.89. 4D Molecular Therapeutics shares last traded at $27.08, with a volume of 83,820 shares changing hands.

Wall Street Analysts Forecast Growth

FDMT has been the subject of a number of analyst reports. Jefferies Financial Group increased their price objective on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. HC Wainwright restated a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research report on Friday, March 1st. Barclays began coverage on shares of 4D Molecular Therapeutics in a research report on Monday. They set an “overweight” rating on the stock. Royal Bank of Canada raised their price objective on shares of 4D Molecular Therapeutics from $25.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, BMO Capital Markets decreased their price objective on shares of 4D Molecular Therapeutics from $70.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, April 1st. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $43.67.

4D Molecular Therapeutics Stock Performance

The company has a market capitalization of $1.37 billion, a P/E ratio of -9.91 and a beta of 2.87. The business’s fifty day simple moving average is $29.32 and its 200-day simple moving average is $19.86.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.09). The firm had revenue of ($0.02) million for the quarter, compared to the consensus estimate of $4.67 million. 4D Molecular Therapeutics had a negative return on equity of 34.14% and a negative net margin of 436.30%. As a group, analysts forecast that 4D Molecular Therapeutics, Inc. will post -3.03 EPS for the current year.

Insiders Place Their Bets

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 8,153 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $31.78, for a total transaction of $259,102.34. Following the sale, the insider now owns 1,737 shares of the company’s stock, valued at approximately $55,201.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Scott Bizily sold 8,153 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $31.78, for a total transaction of $259,102.34. Following the sale, the insider now directly owns 1,737 shares of the company’s stock, valued at $55,201.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Kirn sold 5,696 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $18.41, for a total transaction of $104,863.36. Following the sale, the chief executive officer now directly owns 1,151,154 shares in the company, valued at $21,192,745.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 147,888 shares of company stock valued at $4,134,254. Insiders own 10.70% of the company’s stock.

Institutional Trading of 4D Molecular Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. RA Capital Management L.P. raised its position in 4D Molecular Therapeutics by 35.6% during the third quarter. RA Capital Management L.P. now owns 4,163,211 shares of the company’s stock worth $52,998,000 after acquiring an additional 1,093,680 shares during the period. BlackRock Inc. raised its position in 4D Molecular Therapeutics by 14.3% during the second quarter. BlackRock Inc. now owns 2,914,430 shares of the company’s stock worth $52,664,000 after acquiring an additional 363,695 shares during the period. State Street Corp raised its position in 4D Molecular Therapeutics by 0.4% during the second quarter. State Street Corp now owns 2,050,430 shares of the company’s stock worth $37,051,000 after acquiring an additional 8,241 shares during the period. Novo Holdings A S raised its position in 4D Molecular Therapeutics by 25.0% during the fourth quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock worth $30,390,000 after acquiring an additional 300,000 shares during the period. Finally, Vanguard Group Inc. raised its position in 4D Molecular Therapeutics by 0.6% during the first quarter. Vanguard Group Inc. now owns 1,290,941 shares of the company’s stock worth $19,519,000 after acquiring an additional 7,858 shares during the period. 99.27% of the stock is owned by hedge funds and other 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.