4D Molecular Therapeutics (NASDAQ:FDMT) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of 4D Molecular Therapeutics (NASDAQ:FDMT) from a hold rating to a sell rating in a research note released on Saturday.

Other analysts have also recently issued research reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a report on Wednesday, October 8th. Leerink Partners reaffirmed an “outperform” rating and set a $17.00 price target on shares of 4D Molecular Therapeutics in a research report on Friday, October 31st. Chardan Capital boosted their price objective on shares of 4D Molecular Therapeutics from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Royal Bank Of Canada raised their target price on shares of 4D Molecular Therapeutics from $26.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, November 11th. Finally, Roth Capital decreased their price target on shares of 4D Molecular Therapeutics from $44.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, 4D Molecular Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $28.70.

4D Molecular Therapeutics Stock Up 3.6%

FDMT stock opened at $11.08 on Friday. The company has a market cap of $633.00 million, a price-to-earnings ratio of -2.95 and a beta of 2.96. The business has a fifty day simple moving average of $10.43 and a 200-day simple moving average of $7.13. 4D Molecular Therapeutics has a 52 week low of $2.23 and a 52 week high of $12.34.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its earnings results on Monday, November 10th. The company reported ($1.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.01. The firm had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.40 million. 4D Molecular Therapeutics had a negative return on equity of 47.27% and a negative net margin of 174,314.17%. As a group, analysts expect that 4D Molecular Therapeutics will post -2.84 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Scott Bizily sold 2,678 shares of the stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $12.00, for a total value of $32,136.00. Following the completion of the transaction, the insider owned 3,594 shares of the company’s stock, valued at approximately $43,128. This represents a 42.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 10,763 shares of company stock worth $109,415 over the last 90 days. 9.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Invesco Ltd. lifted its stake in 4D Molecular Therapeutics by 318.3% during the first quarter. Invesco Ltd. now owns 117,768 shares of the company’s stock worth $380,000 after purchasing an additional 89,611 shares during the last quarter. Nuveen LLC bought a new position in shares of 4D Molecular Therapeutics in the 1st quarter worth about $486,000. Russell Investments Group Ltd. bought a new position in shares of 4D Molecular Therapeutics in the 1st quarter worth about $63,000. American Century Companies Inc. boosted its holdings in shares of 4D Molecular Therapeutics by 12.9% in the 1st quarter. American Century Companies Inc. now owns 43,784 shares of the company’s stock valued at $141,000 after buying an additional 4,999 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of 4D Molecular Therapeutics by 39.6% during the 1st quarter. Wellington Management Group LLP now owns 247,471 shares of the company’s stock valued at $799,000 after buying an additional 70,192 shares during the last quarter. 99.27% of the stock is currently owned by 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.