4D Molecular Therapeutics (NASDAQ:FDMT) Price Target Lowered to $38.00 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 - Free Report) had its price objective trimmed by Roth Capital from $44.00 to $38.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently commented on FDMT. Weiss Ratings reiterated a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a research note on Tuesday, July 29th. The Goldman Sachs Group decreased their price target on 4D Molecular Therapeutics from $51.00 to $44.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Barclays decreased their price target 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. Finally, Chardan Capital restated a "buy" rating and issued a $25.00 price objective on shares of 4D Molecular Therapeutics in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, 4D Molecular Therapeutics has an average rating of "Moderate Buy" and an average price target of $30.40.

4D Molecular Therapeutics Stock Up 2.3%

Shares of NASDAQ FDMT traded up $0.16 during mid-day trading on Tuesday, reaching $7.26. 1,110,187 shares of the company were exchanged, compared to its average volume of 2,423,758. The stock has a market cap of $339.04 million, a price-to-earnings ratio of -2.06 and a beta of 2.83. 4D Molecular Therapeutics has a 1 year low of $2.23 and a 1 year high of $17.41. The firm has a 50-day moving average of $4.68 and a 200 day moving average of $4.14.

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

Institutional Trading of 4D Molecular Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in FDMT. BVF Inc. IL increased its position in shares of 4D Molecular Therapeutics by 70.8% in the first quarter. BVF Inc. IL now owns 4,561,289 shares of the company's stock valued at $14,733,000 after buying an additional 1,890,647 shares in the last quarter. Millennium Management LLC boosted its stake in shares of 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 acquiring an additional 1,337,497 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of 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 acquiring an additional 1,246,419 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of 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 acquiring an additional 504,086 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of 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 acquiring an additional 428,285 shares during the last quarter. 99.27% of the stock is currently owned by hedge funds and other 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.