Acadian Asset Management LLC Grows Stock Holdings in 4D Molecular Therapeutics, Inc. $FDMT

Key Points

• Acadian Asset Management LLC significantly increased its stake in 4D Molecular Therapeutics by 1,103.4% during the first quarter, now holding approximately 0.86% of the company worth $1.29 million.
• 4D Molecular Therapeutics' stock recently rose by 6.6% to $7.10, with a trading volume of 597,009 shares, surpassing its average volume of 505,828.
• Despite its stock performance, the company reported earnings per share of ($0.98), missing expectations, while sell-side analysts have a consensus price target of $30.40, indicating potential for future growth.

Acadian Asset Management LLC increased its holdings in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Free Report) by 1,103.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 400,606 shares of the company's stock after acquiring an additional 367,317 shares during the period. Acadian Asset Management LLC owned about 0.86% of 4D Molecular Therapeutics worth $1,290,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in FDMT. BVF Inc. IL raised its holdings in shares of 4D Molecular Therapeutics by 70.8% in the 1st quarter. BVF Inc. IL now owns 4,561,289 shares of the company's stock worth $14,733,000 after acquiring an additional 1,890,647 shares during the last quarter. Millennium Management LLC increased its stake in 4D Molecular Therapeutics by 1,607.1% in the 4th quarter. Millennium Management LLC now owns 1,420,723 shares of the company's stock valued at $7,913,000 after buying an additional 1,337,497 shares during the last quarter. Federated Hermes Inc. increased 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 buying an additional 1,246,419 shares during the last quarter. Two Sigma Investments LP increased its stake in 4D Molecular Therapeutics by 196.3% in the 4th quarter. Two Sigma Investments LP now owns 313,993 shares of the company's stock valued at $1,749,000 after buying an additional 208,021 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in 4D Molecular Therapeutics in the 1st quarter valued at about $486,000. Institutional investors and hedge funds own 99.27% of the company's stock.

4D Molecular Therapeutics Price Performance

NASDAQ:FDMT traded down $0.50 during trading hours on Friday, hitting $6.60. The stock had a trading volume of 1,185,517 shares, compared to its average volume of 516,653. The company has a 50 day simple moving average of $5.95 and a two-hundred day simple moving average of $4.44. The firm has a market capitalization of $308.22 million, a price-to-earnings ratio of -1.87 and a beta of 2.86. 4D Molecular Therapeutics, Inc. has a one year low of $2.23 and a one year high of $13.59.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $0.01 million for the quarter, compared to analysts' expectations of $0.52 million. 4D Molecular Therapeutics had a negative net margin of 594,375.81% and a negative return on equity of 40.15%. Equities research analysts anticipate that 4D Molecular Therapeutics, Inc. will post -2.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on FDMT. Weiss Ratings reiterated a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a research note on Saturday, September 13th. Roth Capital decreased their price objective on shares of 4D Molecular Therapeutics from $44.00 to $38.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Finally, Chardan Capital reiterated a "buy" rating and issued a $25.00 price objective on shares of 4D Molecular Therapeutics in a research note on Tuesday, August 12th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.40.

4D Molecular Therapeutics 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.