4D Molecular Therapeutics (NASDAQ:FDMT) Issues Earnings Results

Key Points

• 4D Molecular Therapeutics reported an earnings per share (EPS) of ($0.98), which missed analysts' estimates by ($0.29).
• Despite a negative return on equity of 33.26% and a significant negative net margin, institutional investors hold 99.27% of the company's stock.
• Analysts have a Moderate Buy average rating for the stock, with price targets ranging from $25.00 to $51.00, indicating varied investor sentiment.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) released its quarterly earnings data on Monday. The company reported ($0.98) earnings per share for the quarter, missing analysts' consensus estimates of ($0.88) by ($0.10), Zacks reports. 4D Molecular Therapeutics had a negative net margin of 594,375.81% and a negative return on equity of 38.38%. The company had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.52 million.

4D Molecular Therapeutics Stock Up 11.2%

Shares of NASDAQ:FDMT opened at $6.15 on Wednesday. 4D Molecular Therapeutics has a 12 month low of $2.23 and a 12 month high of $17.41. The company's fifty day simple moving average is $4.50 and its 200 day simple moving average is $4.09. The firm has a market cap of $284.93 million, a price-to-earnings ratio of -1.74 and a beta of 2.83.

Wall Street Analysts Forecast Growth

FDMT has been the topic of several research analyst reports. The Goldman Sachs Group decreased their price objective on shares of 4D Molecular Therapeutics from $51.00 to $44.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Roth Capital decreased their price objective on shares of 4D Molecular Therapeutics from $44.00 to $38.00 and set a "buy" rating on the stock in a research note on Tuesday. Barclays decreased their price objective on shares of 4D Molecular Therapeutics from $45.00 to $38.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a research note on Tuesday, July 29th. Finally, Chardan Capital reaffirmed a "buy" rating and set a $25.00 price objective on shares of 4D Molecular Therapeutics in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, 4D Molecular Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $30.40.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. grew its position in 4D Molecular Therapeutics by 11.5% in the second quarter. American Century Companies Inc. now owns 48,810 shares of the company's stock valued at $181,000 after purchasing an additional 5,026 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in 4D Molecular Therapeutics in the first quarter valued at $39,000. AQR Capital Management LLC bought a new position in shares of 4D Molecular Therapeutics in the 1st quarter valued at about $46,000. Finally, Millennium Management LLC grew its position 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 valued at $5,278,000 after acquiring an additional 213,264 shares during the period. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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.