4D Molecular Therapeutics (NASDAQ:FDMT) Hits New 12-Month High - Here's What Happened

Key Points

• 4D Molecular Therapeutics stock reached a new 52-week high of $10.73 during trading, after previously closing at $9.84, with a total volume of 314,887 shares traded.
• Analysts have varied opinions on the stock, with Chardan Capital setting a price target of $25.00 while Weiss Ratings issued a "sell" rating, highlighting mixed investor sentiment.
• The company reported a significant loss of ($0.98) earnings per share for the last quarter, missing analysts' expectations, and is projected to have a negative EPS of -2.84 for the current fiscal year.

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $10.73 and last traded at $10.72, with a volume of 314887 shares traded. The stock had previously closed at $9.84.

Analyst Ratings Changes

Several brokerages have commented on FDMT. Chardan Capital restated a "buy" rating and set a $25.00 price objective on shares of 4D Molecular Therapeutics in a research report on Tuesday, August 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a report on Wednesday, October 8th. Finally, Roth Capital reduced their price objective on 4D Molecular Therapeutics from $44.00 to $38.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.40.

4D Molecular Therapeutics Stock Performance

The company has a market cap of $526.33 million, a price-to-earnings ratio of -3.19 and a beta of 2.93. The company has a fifty day moving average of $7.57 and a two-hundred day moving average of $5.16.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.88) by ($0.10). The firm had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.52 million. 4D Molecular Therapeutics had a negative return on equity of 40.15% and a negative net margin of 594,375.81%. Equities analysts expect that 4D Molecular Therapeutics, Inc. will post -2.84 EPS for the current fiscal year.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. increased its position in 4D Molecular Therapeutics by 11.7% in the second quarter. Russell Investments Group Ltd. now owns 21,816 shares of the company's stock worth $81,000 after buying an additional 2,284 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of 4D Molecular Therapeutics by 117.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,952 shares of the company's stock valued at $43,000 after buying an additional 2,674 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its stake in shares of 4D Molecular Therapeutics by 35.6% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 16,369 shares of the company's stock worth $61,000 after acquiring an additional 4,295 shares during the period. American Century Companies Inc. increased its holdings in 4D Molecular Therapeutics by 12.9% in the 1st quarter. American Century Companies Inc. now owns 43,784 shares of the company's stock worth $141,000 after acquiring an additional 4,999 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in 4D Molecular Therapeutics by 26.0% in the 1st quarter. Proficio Capital Partners LLC now owns 25,195 shares of the company's stock worth $75,000 after acquiring an additional 5,195 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.

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