4D Molecular Therapeutics’ (FDMT) Buy Rating Reaffirmed at Chardan Capital

4D Molecular Therapeutics (NASDAQ:FDMT)‘s stock had its “buy” rating reissued by equities researchers at Chardan Capital in a research note issued on Thursday,Benzinga reports. They currently have a $26.00 target price on the stock. Chardan Capital’s target price would indicate a potential upside of 182.30% from the stock’s previous close.

A number of other research firms have also commented on FDMT. Morgan Stanley raised shares of 4D Molecular Therapeutics from an “underweight” rating to an “equal weight” rating in a research report on Friday, November 7th. Barclays cut their target price on shares of 4D Molecular Therapeutics from $38.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research note on Wednesday, October 8th. Royal Bank Of Canada increased their target price on 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, Leerink Partners reiterated an “outperform” rating and set a $17.00 price target on shares of 4D Molecular Therapeutics in a report on Friday, October 31st. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.70.

4D Molecular Therapeutics Trading Down 20.1%

Shares of NASDAQ:FDMT opened at $9.21 on Thursday. The stock has a market capitalization of $526.17 million, a PE ratio of -2.46 and a beta of 2.96. 4D Molecular Therapeutics has a 1 year low of $2.23 and a 1 year high of $12.34. The firm has a fifty day moving average price of $10.70 and a 200 day moving average price of $7.46.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its quarterly earnings results on Monday, November 10th. The company reported ($1.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.01. The company had revenue of $0.09 million during 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%. On average, sell-side analysts forecast 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 company’s stock in a transaction on 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 directly owned 3,594 shares in the company, 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 available through this hyperlink. Insiders sold 10,763 shares of company stock worth $109,415 in the last quarter. Insiders own 9.60% of the company’s stock.

Hedge Funds Weigh In On 4D Molecular Therapeutics

A number of hedge funds have recently made changes to their positions in the business. BVF Inc. IL lifted its position in shares of 4D Molecular Therapeutics by 70.8% during the 1st quarter. BVF Inc. IL now owns 4,561,289 shares of the company’s stock worth $14,733,000 after buying an additional 1,890,647 shares during the period. Armistice Capital LLC raised its stake in 4D Molecular Therapeutics by 265.3% during the third quarter. Armistice Capital LLC now owns 1,096,000 shares of the company’s stock worth $9,524,000 after acquiring an additional 796,000 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of 4D Molecular Therapeutics by 33.4% during the second quarter. Federated Hermes Inc. now owns 1,667,338 shares of the company’s stock valued at $6,186,000 after acquiring an additional 417,157 shares during the period. Acadian Asset Management LLC boosted its stake in shares of 4D Molecular Therapeutics by 1,103.4% in the 1st quarter. Acadian Asset Management LLC now owns 400,606 shares of the company’s stock valued at $1,290,000 after purchasing an additional 367,317 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of 4D Molecular Therapeutics by 15.0% in the 1st quarter. Millennium Management LLC now owns 1,633,987 shares of the company’s stock worth $5,278,000 after purchasing an additional 213,264 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.