4D Molecular Therapeutics, Inc. $FDMT Shares Bought by Invesco Ltd.

Key Points

• Invesco Ltd. significantly increased its stake in 4D Molecular Therapeutics by 318.3%, owning 117,768 shares valued at approximately $380,000 as of the latest reporting period.
• 4D Molecular Therapeutics reported a larger-than-expected earnings loss of ($0.98) per share, failing to meet the consensus estimate, which projected a loss of ($0.88) per share.
• Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average price target of $30.40, despite a recent target price reduction from Roth Capital.

Invesco Ltd. lifted its stake in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Free Report) by 318.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 117,768 shares of the company's stock after purchasing an additional 89,611 shares during the quarter. Invesco Ltd. owned about 0.25% of 4D Molecular Therapeutics worth $380,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC grew its holdings 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 valued at $7,913,000 after purchasing an additional 1,337,497 shares during the last quarter. Federated Hermes Inc. grew its stake in 4D Molecular Therapeutics by 33,131.8% in the 1st quarter. Federated Hermes Inc. now owns 1,250,181 shares of the company's stock valued at $4,038,000 after acquiring an additional 1,246,419 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in 4D Molecular Therapeutics by 2,084.5% during the 4th quarter. Cubist Systematic Strategies LLC now owns 448,831 shares of the company's stock valued at $2,500,000 after acquiring an additional 428,285 shares in the last quarter. Northern Trust Corp raised its position in 4D Molecular Therapeutics by 2.3% during the fourth quarter. Northern Trust Corp now owns 440,665 shares of the company's stock worth $2,455,000 after acquiring an additional 9,982 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of 4D Molecular Therapeutics by 49.8% in the fourth quarter. Bank of America Corp DE now owns 384,880 shares of the company's stock valued at $2,144,000 after purchasing an additional 127,885 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on FDMT shares. Chardan Capital reissued a "buy" rating and set a $25.00 price objective on shares of 4D Molecular Therapeutics in a research note on Tuesday, August 12th. Roth Capital dropped their price target on 4D Molecular Therapeutics from $44.00 to $38.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a report on Saturday, August 30th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $30.40.

4D Molecular Therapeutics Stock Up 1.9%

Shares of NASDAQ:FDMT traded up $0.13 during midday trading on Thursday, reaching $7.07. The company's stock had a trading volume of 626,348 shares, compared to its average volume of 639,636. The firm has a market cap of $330.17 million, a price-to-earnings ratio of -2.00 and a beta of 2.86. The business has a 50 day moving average price of $5.64 and a 200 day moving average price of $4.34. 4D Molecular Therapeutics, Inc. has a 1 year low of $2.23 and a 1 year high of $17.41.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.10). The business had revenue of $0.01 million for the quarter, compared to analysts' expectations of $0.52 million. 4D Molecular Therapeutics had a negative return on equity of 40.15% and a negative net margin of 594,375.81%. Sell-side analysts anticipate that 4D Molecular Therapeutics, Inc. will post -2.84 earnings per share for the current fiscal year.

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.