4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Sees Large Increase in Short Interest

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 9,320,000 shares, a growth of 9.6% from the March 15th total of 8,500,000 shares. Based on an average daily volume of 1,170,000 shares, the short-interest ratio is presently 8.0 days.

4D Molecular Therapeutics Stock Performance

Shares of FDMT traded down $1.02 during midday trading on Wednesday, hitting $25.73. 157,169 shares of the stock traded hands, compared to its average volume of 1,082,152. 4D Molecular Therapeutics has a 1-year low of $9.44 and a 1-year high of $36.25. The firm has a market capitalization of $1.32 billion, a PE ratio of -9.64 and a beta of 2.87. The business’s 50 day moving average price is $29.07 and its two-hundred day moving average price is $20.06.

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

Analysts Set New Price Targets

Several research analysts recently commented on FDMT shares. BMO Capital Markets cut their price target on shares of 4D Molecular Therapeutics from $70.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday, April 1st. The Goldman Sachs Group restated a “buy” rating and issued a $81.00 price target on shares of 4D Molecular Therapeutics in a report on Wednesday, February 7th. Royal Bank of Canada raised their price target on shares of 4D Molecular Therapeutics from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Monday. Barclays assumed coverage on shares of 4D Molecular Therapeutics in a research note on Monday. They set an “overweight” rating on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Friday, March 1st. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $44.22.

Insiders Place Their Bets

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 6,244 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $27.50, for a total transaction of $171,710.00. Following the sale, the insider now directly owns 1,737 shares of the company’s stock, valued at approximately $47,767.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO David Kirn sold 5,696 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $18.41, for a total value of $104,863.36. Following the sale, the chief executive officer now directly owns 1,151,154 shares of the company’s stock, valued at $21,192,745.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott Bizily sold 6,244 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $27.50, for a total transaction of $171,710.00. Following the completion of the sale, the insider now directly owns 1,737 shares in the company, valued at $47,767.50. The disclosure for this sale can be found here. Insiders have sold 147,888 shares of company stock valued at $4,134,254 in the last ninety days. Insiders own 10.70% of the company’s stock.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of FDMT. Bfsg LLC acquired a new stake in 4D Molecular Therapeutics during the 4th quarter worth about $30,000. International Assets Investment Management LLC purchased a new position in 4D Molecular Therapeutics during the 3rd quarter valued at about $36,000. US Bancorp DE grew its stake in 4D Molecular Therapeutics by 580.7% during the 4th quarter. US Bancorp DE now owns 1,797 shares of the company’s stock valued at $36,000 after acquiring an additional 1,533 shares in the last quarter. Lazard Asset Management LLC grew its stake in 4D Molecular Therapeutics by 44.2% during the 2nd quarter. Lazard Asset Management LLC now owns 2,190 shares of the company’s stock valued at $38,000 after acquiring an additional 671 shares in the last quarter. Finally, Ensign Peak Advisors Inc grew its stake in 4D Molecular Therapeutics by 167.9% during the 3rd quarter. Ensign Peak Advisors Inc now owns 7,180 shares of the company’s stock valued at $58,000 after acquiring an additional 4,500 shares in the last quarter. 99.27% of the stock is currently 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.