4D Molecular Therapeutics (NASDAQ:FDMT) Price Target Cut to $38.00 by Analysts at Roth Capital

Key Points

• 4D Molecular Therapeutics' price target has been reduced from $44.00 to $38.00 by Roth Capital, though the stock retains a "buy" rating from the firm.
• The company's stock has seen an 11.2% increase recently, reaching a trading price of $6.15, with a market capitalization of approximately $284.93 million.
• 4D Molecular Therapeutics reported a significant earnings miss, with EPS of ($0.98), falling below consensus estimates of ($0.69), along with minimal revenue of $0.01 million for the quarter.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) had its target price dropped by research analysts at Roth Capital from $44.00 to $38.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock.

A number of other research analysts also recently issued reports on the company. Barclays cut their price objective on 4D Molecular Therapeutics from $45.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Weiss Ratings restated a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a research note on Tuesday, July 29th. Chardan Capital reaffirmed a "buy" rating and set a $25.00 price objective on shares of 4D Molecular Therapeutics in a report on Tuesday. Finally, The Goldman Sachs Group cut their price objective on shares of 4D Molecular Therapeutics from $51.00 to $44.00 and set a "buy" rating for the company in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $30.40.

4D Molecular Therapeutics Stock Up 11.2%

Shares of 4D Molecular Therapeutics stock traded up $0.62 during trading hours on Tuesday, reaching $6.15. 917,713 shares of the stock traded hands, compared to its average volume of 875,249. The company has a 50 day moving average price of $4.46 and a 200 day moving average price of $4.08. The firm has a market capitalization of $284.93 million, a price-to-earnings ratio of -1.93 and a beta of 2.83. 4D Molecular Therapeutics has a one year low of $2.23 and a one year high of $17.41.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.29). The company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.52 million. 4D Molecular Therapeutics had a negative net margin of 767,126.06% and a negative return on equity of 33.26%. Sell-side analysts anticipate that 4D Molecular Therapeutics will post -2.84 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FDMT. BVF Inc. IL boosted 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 valued at $14,733,000 after acquiring an additional 1,890,647 shares during the last quarter. Millennium Management LLC lifted its position in 4D Molecular Therapeutics by 1,607.1% in the fourth quarter. Millennium Management LLC now owns 1,420,723 shares of the company's stock worth $7,913,000 after buying an additional 1,337,497 shares during the last quarter. Federated Hermes Inc. lifted its position in 4D Molecular Therapeutics by 33,131.8% in the first quarter. Federated Hermes Inc. now owns 1,250,181 shares of the company's stock worth $4,038,000 after buying an additional 1,246,419 shares during the last quarter. JPMorgan Chase & Co. lifted its position in 4D Molecular Therapeutics by 159.5% in the fourth quarter. JPMorgan Chase & Co. now owns 820,069 shares of the company's stock worth $4,568,000 after buying an additional 504,086 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in 4D Molecular Therapeutics by 2,084.5% in the fourth quarter. Cubist Systematic Strategies LLC now owns 448,831 shares of the company's stock worth $2,500,000 after buying an additional 428,285 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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