Chardan Capital Reaffirms "Buy" Rating for 4D Molecular Therapeutics (NASDAQ:FDMT)

Key Points

• 4D Molecular Therapeutics (NASDAQ:FDMT) has been given a "buy" rating by Chardan Capital, with a target price of $25.00, indicating a potential upside of 455.56% from its current price.
• Several analysts have recently revised their price targets downward, with Barclays and Goldman Sachs setting new targets of $38.00 and $44.00, respectively.
• The company's earnings miss with reported EPS of ($0.86), falling short of the consensus estimate of ($0.84).

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Chardan Capital in a note issued to investors on Friday,Benzinga reports. They currently have a $25.00 price target on the stock. Chardan Capital's price target would indicate a potential upside of 312.20% from the stock's previous close.

A number of other analysts also recently commented on the company. The Goldman Sachs Group dropped their price objective on 4D Molecular Therapeutics from $51.00 to $44.00 and set a "buy" rating for the company in a report on Friday, May 9th. Barclays reduced their price target on shares of 4D Molecular Therapeutics from $45.00 to $38.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a report on Tuesday, July 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $29.56.

4D Molecular Therapeutics Stock Performance

FDMT stock traded up $0.83 on Friday, reaching $6.07. The company had a trading volume of 1,776,220 shares, compared to its average volume of 879,779. 4D Molecular Therapeutics has a 1 year low of $2.23 and a 1 year high of $17.41. The company's fifty day moving average is $4.24 and its 200 day moving average is $4.04. The company has a market cap of $280.99 million, a P/E ratio of -1.91 and a beta of 2.83.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.86) earnings per share for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.02). 4D Molecular Therapeutics had a negative return on equity of 33.26% and a negative net margin of 767,126.06%. On average, sell-side analysts predict that 4D Molecular Therapeutics will post -2.84 earnings per share for the current year.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Institutional investors have recently modified their holdings of the stock. BVF Inc. IL raised its holdings in 4D Molecular Therapeutics by 70.8% in the 1st quarter. BVF Inc. IL now owns 4,561,289 shares of the company's stock worth $14,733,000 after acquiring an additional 1,890,647 shares during the period. Millennium Management LLC raised its holdings in 4D Molecular Therapeutics by 1,607.1% in the 4th quarter. Millennium Management LLC now owns 1,420,723 shares of the company's stock worth $7,913,000 after acquiring an additional 1,337,497 shares during the period. Federated Hermes Inc. raised its holdings in 4D Molecular Therapeutics by 33,131.8% in the 1st quarter. Federated Hermes Inc. now owns 1,250,181 shares of the company's stock worth $4,038,000 after acquiring an additional 1,246,419 shares during the period. JPMorgan Chase & Co. raised its holdings in 4D Molecular Therapeutics by 159.5% in the 4th quarter. JPMorgan Chase & Co. now owns 820,069 shares of the company's stock worth $4,568,000 after acquiring an additional 504,086 shares during the period. Finally, Norges Bank bought a new position in shares of 4D Molecular Therapeutics during the 4th quarter worth about $2,790,000. 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.