4D Molecular Therapeutics (NASDAQ:FDMT) Given New $25.00 Price Target at Chardan Capital

Key Points

• Chardan Capital lowered its price target for 4D Molecular Therapeutics from $26 to $25 while maintaining a “buy” rating, implying 93.5% upside from the prior close. Analysts overall rate the stock “Moderate Buy,” with an average target of $28.90.
• FDMT opened at $12.92 after falling 5.5%; the company has a market capitalization of approximately $713.7 million and trades near the middle of its $6.96–$16.93 52-week range.
• The clinical-stage biotech reported a quarterly loss of $1.04 per share, slightly worse than estimates, despite revenue of $3.78 million exceeding expectations. Insiders sold shares recently, while institutional investors and hedge funds own 99.27% of the stock.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) had its target price lowered by equities research analysts at Chardan Capital from $26.00 to $25.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Chardan Capital's price target suggests a potential upside of 93.50% from the stock's previous close.

A number of other equities analysts have also issued reports on the company. HC Wainwright reissued a "buy" rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a report on Monday, July 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a research report on Friday, July 17th. Bank of America lifted their target price on shares of 4D Molecular Therapeutics from $29.00 to $33.00 and gave the stock a "buy" rating in a research report on Tuesday, September 29th. Cantor Fitzgerald raised shares of 4D Molecular Therapeutics from a "neutral" rating to an "overweight" rating and set a $20.00 target price on the stock in a research note on Monday, September 14th. Finally, B. Riley Financial reiterated a "buy" rating on shares of 4D Molecular Therapeutics in a report on Monday, August 17th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $28.90.

4D Molecular Therapeutics Trading Down 5.5%

FDMT opened at $12.92 on Tuesday. 4D Molecular Therapeutics has a 52-week low of $6.96 and a 52-week high of $16.93. The firm has a market capitalization of $713.70 million, a P/E ratio of -4.91 and a beta of 2.75. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.05. The firm's 50 day moving average is $13.56 and its 200-day moving average is $11.31.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.02). 4D Molecular Therapeutics had a negative net margin of 194.74% and a negative return on equity of 41.33%. The business had revenue of $3.78 million for the quarter, compared to analyst estimates of $3.62 million. Analysts expect that 4D Molecular Therapeutics will post -4.07 EPS for the current fiscal year.

Insider Transactions at 4D Molecular Therapeutics

In other 4D Molecular Therapeutics news, insider David Kirn sold 58,333 shares of 4D Molecular Therapeutics stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $13.90, for a total value of $810,828.70. Following the transaction, the insider directly owned 767,486 shares of the company's stock, valued at $10,668,055.40. The trade was a 7.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 134,570 shares of company stock valued at $1,743,197. Company insiders own 7.90% of the company's stock.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Large investors have recently bought and sold shares of the stock. Legal & General Group Plc acquired a new position in shares of 4D Molecular Therapeutics during the second quarter valued at about $59,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of 4D Molecular Therapeutics in the second quarter valued at $148,000. The Manufacturers Life Insurance Company acquired a new stake in 4D Molecular Therapeutics during the second quarter worth $166,000. Sei Investments Co. raised its stake in shares of 4D Molecular Therapeutics by 8.9% in the 1st quarter. Sei Investments Co. now owns 12,862 shares of the company's stock valued at $120,000 after buying an additional 1,050 shares in the last quarter. Finally, AXQ Capital LP bought a new position in shares of 4D Molecular Therapeutics during the 2nd quarter worth about $186,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

4D Molecular Therapeutics Company Profile

4D Molecular Therapeutics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for serious diseases. The company uses its Therapeutic Vector Evolution platform to engineer adeno-associated virus (AAV) vectors designed to deliver genetic medicines to specific tissues, including the eye and lungs.

Its investigational pipeline includes 4D-150, an intravitreal gene therapy being developed for retinal diseases such as wet age-related macular degeneration and diabetic macular edema.

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