4D Molecular Therapeutics' (FDMT) Buy Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright reaffirmed its “buy” rating on 4D Molecular Therapeutics and set a $36 price target, implying 185.26% upside from the prior close.
• Analyst sentiment is broadly positive: 10 analysts rate FDMT a Buy, one rates it Hold, and one rates it Sell, for a consensus “Moderate Buy” rating and average target of $28.90.
• FDMT opened at $12.62 after a 3.7% decline; the company remains unprofitable, reporting a quarterly loss of $1.04 per share and negative net margins, while institutional investors own 99.27% of shares.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report)'s stock had its "buy" rating reiterated by HC Wainwright in a note issued to investors on Thursday, Benzinga reports. They currently have a $36.00 price objective on the stock. HC Wainwright's price target indicates a potential upside of 185.26% from the stock's previous close.

FDMT has been the topic of a number of other research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a research note on Thursday, October 15th. Chardan Capital dropped their price objective on shares of 4D Molecular Therapeutics from $26.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, October 6th. B. Riley Financial reiterated a "buy" rating on shares of 4D Molecular Therapeutics in a research note on Monday, August 17th. The Goldman Sachs Group reiterated a "buy" rating and set a $32.00 target price on shares of 4D Molecular Therapeutics in a research report on Thursday, August 13th. Finally, Cantor Fitzgerald upgraded 4D Molecular Therapeutics from a "neutral" rating to an "overweight" rating and set a $20.00 target price for the company in a research report on Monday, September 14th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, 4D Molecular Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $28.90.

4D Molecular Therapeutics Trading Down 3.7%

NASDAQ FDMT opened at $12.62 on Thursday. 4D Molecular Therapeutics has a 12 month low of $6.96 and a 12 month high of $16.93. The company has a current ratio of 8.03, a quick ratio of 8.03 and a debt-to-equity ratio of 0.05. The company has a market cap of $697.13 million, a PE ratio of -4.80 and a beta of 2.75. The stock has a 50 day moving average of $14.07 and a 200-day moving average of $11.60.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($1.04) EPS for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.02). 4D Molecular Therapeutics had a negative return on equity of 41.33% and a negative net margin of 194.74%. The business had revenue of $3.78 million for the quarter, compared to the consensus estimate of $3.62 million. On average, equities research analysts anticipate that 4D Molecular Therapeutics will post -4.14 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 dated Monday, October 5th. The stock was sold at an average price of $12.92, for a total value of $753,662.36. Following the transaction, the insider owned 709,153 shares in the company, valued at $9,162,256.76. The trade was a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 136,205 shares of company stock valued at $1,780,316 in the last quarter. Insiders own 7.90% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Persistent Asset Partners Ltd bought a new position in 4D Molecular Therapeutics in the 2nd quarter valued at approximately $1,936,000. Bank of America Corp DE bought a new position in 4D Molecular Therapeutics in the 2nd quarter valued at approximately $14,905,000. Deutsche Bank AG bought a new position in 4D Molecular Therapeutics in the 2nd quarter valued at approximately $9,456,000. Dimensional Fund Advisors LP raised its holdings in 4D Molecular Therapeutics by 77.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 522,823 shares of the company's stock valued at $4,863,000 after buying an additional 227,982 shares during the last quarter. Finally, Man Group plc bought a new position in 4D Molecular Therapeutics in the 2nd quarter valued at approximately $909,000. Institutional investors own 99.27% of the company's stock.

4D Molecular Therapeutics Company Profile

4D Molecular Therapeutics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for serious diseases with significant unmet medical needs. The company uses its Therapeutic Vector Evolution platform to design adeno-associated virus (AAV) vectors intended to deliver genetic medicines to specific tissues and organs.

Its pipeline has focused primarily on ophthalmology and pulmonology. Key investigational programs have included 4D-150, an intravitreal gene therapy being developed for retinal diseases such as wet age-related macular degeneration and diabetic macular edema, and 4D-710, an inhaled gene therapy designed to address the underlying cause of cystic fibrosis in patients who cannot benefit from existing CFTR modulator treatments.