4D Molecular Therapeutics (NASDAQ:FDMT) Shares Down 2.9%

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) shares fell 2.9% on Tuesday . The company traded as low as $25.62 and last traded at $25.62. 241,148 shares changed hands during trading, a decline of 77% from the average session volume of 1,054,143 shares. The stock had previously closed at $26.39.

Analysts Set New Price Targets

A number of brokerages recently commented on FDMT. Royal Bank of Canada lifted their price objective on 4D Molecular Therapeutics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Barclays initiated coverage on shares of 4D Molecular Therapeutics in a research report on Monday, April 15th. They set an “overweight” rating on the stock. Jefferies Financial Group raised 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 report on Monday, April 1st. HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Friday, March 1st. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $81.00 price target on shares of 4D Molecular Therapeutics in a research note on Wednesday, February 7th. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $44.22.

4D Molecular Therapeutics Price Performance

The company’s 50 day simple moving average is $28.87 and its two-hundred day simple moving average is $20.44. The company has a market cap of $1.27 billion, a PE ratio of -9.92 and a beta of 2.87.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its earnings results on Thursday, February 29th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $4.67 million. Sell-side analysts expect that 4D Molecular Therapeutics, Inc. will post -3.03 EPS for the current fiscal year.

Insider Activity at 4D Molecular Therapeutics

In related news, insider Scott Bizily sold 1,750 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $25.74, for a total transaction of $45,045.00. Following the sale, the insider now directly owns 1,737 shares of the company’s stock, valued at approximately $44,710.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Robert Young Kim sold 24,552 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $30.05, for a total value of $737,787.60. Following the transaction, the insider now directly owns 1,043 shares of the company’s stock, valued at approximately $31,342.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Scott Bizily sold 1,750 shares of 4D Molecular Therapeutics stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $25.74, for a total transaction of $45,045.00. Following the sale, the insider now owns 1,737 shares in the company, valued at $44,710.38. The disclosure for this sale can be found here. Insiders sold 143,942 shares of company stock worth $4,074,435 in the last three months. 10.70% of the stock is owned by company insiders.

Institutional Trading of 4D Molecular Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Daiwa Securities Group Inc. boosted its stake in 4D Molecular Therapeutics by 23.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 5,872 shares of the company’s stock worth $119,000 after purchasing an additional 1,110 shares during the period. Bfsg LLC acquired a new stake in shares of 4D Molecular Therapeutics during the 4th quarter valued at approximately $30,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 4D Molecular Therapeutics by 14.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,612 shares of the company’s stock worth $438,000 after buying an additional 2,700 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position 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 worth $110,000 after buying an additional 3,026 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of 4D Molecular Therapeutics by 2.2% in the third quarter. Wellington Management Group LLP now owns 172,722 shares of the company’s stock valued at $2,199,000 after purchasing an additional 3,638 shares during the last quarter. Institutional investors and hedge funds 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.