4D Molecular Therapeutics (NASDAQ:FDMT) Rating Increased to Strong-Buy at Chardan Capital

Key Points

• Chardan Capital upgraded 4D Molecular Therapeutics to “strong buy,” though analyst opinions remain mixed. The stock has a consensus “moderate buy” rating and an average price target of $29.88.
• FDMT shares opened at $10.07 and were reported up 4.8%, with a market capitalization of approximately $526 million. The company reported a quarterly loss of $1.01 per share, missing estimates, despite revenue of $3.05 million exceeding expectations.
• Insiders sold approximately $2.08 million of stock over the past 90 days, while institutional investors own a substantial 99.27% of outstanding shares.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) was upgraded by equities research analysts at Chardan Capital to a "strong-buy" rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages also recently issued reports on FDMT. Weiss Ratings restated a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a research report on Friday, July 17th. Wall Street Zen downgraded 4D Molecular Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. The Goldman Sachs Group set a $33.00 target price on shares of 4D Molecular Therapeutics in a report on Friday, May 8th. HC Wainwright reissued a "buy" rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research report on Monday, July 20th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $21.00 target price (down from $40.00) on shares of 4D Molecular Therapeutics in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell 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 $29.88.

4D Molecular Therapeutics Trading Up 4.8%

FDMT opened at $10.07 on Tuesday. 4D Molecular Therapeutics has a 1-year low of $4.30 and a 1-year high of $14.00. The company has a market cap of $526.46 million, a P/E ratio of -3.92 and a beta of 2.70. The company's 50 day moving average is $10.55 and its 200-day moving average is $9.64.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.97) by ($0.04). 4D Molecular Therapeutics had a negative net margin of 182.34% and a negative return on equity of 36.83%. The firm had revenue of $3.05 million during the quarter, compared to the consensus estimate of $2.59 million. On average, equities analysts forecast that 4D Molecular Therapeutics will post -3.8 EPS for the current year.

Insiders Place Their Bets

In related news, insider Scott Bizily sold 9,810 shares of the business's stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $12.00, for a total transaction of $117,720.00. Following the completion of the transaction, the insider owned 8,617 shares of the company's stock, valued at approximately $103,404. The trade was a 53.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Kirn sold 114,746 shares of the business's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $10.47, for a total transaction of $1,201,390.62. Following the transaction, the insider owned 942,485 shares of the company's stock, valued at $9,867,817.95. This trade represents a 10.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 184,811 shares of company stock valued at $2,075,906 over the last ninety days. Corporate insiders own 7.90% of the company's stock.

Institutional Trading of 4D Molecular Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of FDMT. Exome Asset Management LLC purchased a new position in shares of 4D Molecular Therapeutics during the first quarter worth about $1,216,000. Simplify Asset Management Inc. bought a new position in shares of 4D Molecular Therapeutics in the first quarter worth approximately $656,000. Evergreen Quality Fund GP Ltd. purchased a new stake in 4D Molecular Therapeutics in the fourth quarter valued at approximately $7,136,000. Baker BROS. Advisors LP purchased a new stake in 4D Molecular Therapeutics in the fourth quarter valued at approximately $3,568,000. Finally, Armistice Capital LLC lifted its position in 4D Molecular Therapeutics by 76.6% during the fourth quarter. Armistice Capital LLC now owns 1,936,000 shares of the company's stock valued at $14,520,000 after purchasing an additional 840,000 shares during the last quarter. Hedge funds and other institutional investors own 99.27% of the company's stock.

About 4D Molecular Therapeutics

4D Molecular Therapeutics, founded in 2015 and headquartered in Emeryville, California, is a clinical-stage biotechnology company focused on the development of targeted gene therapies for rare diseases. The company employs its proprietary Gene Expression AAV (GEA) platform to engineer novel adeno-associated virus (AAV) capsids with enhanced tissue selectivity and transduction efficiency. This platform aims to improve the precision and durability of gene delivery compared to traditional AAV approaches.

4D's pipeline includes both preclinical and clinical-stage programs across multiple therapeutic areas.

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