4D Molecular Therapeutics, Inc. $FDMT Shares Newly Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 1.12 million shares of 4D Molecular Therapeutics during the second quarter, valued at approximately $14.9 million and representing a 2.14% stake. Institutional investors collectively own 99.27% of the company.
• Analysts remain broadly bullish, with a consensus rating of “Moderate Buy” and an average price target of $28.56. Recent targets range from $20 to $36, while several firms upgraded the stock or reaffirmed buy ratings.
• FDMT opened at $14.47 and has gained from its 52-week low of $6.96, but the company remains unprofitable: quarterly EPS missed estimates at $(1.04), net margin was negative 194.74%, and analysts expect a full-year loss of approximately $4.07 per share.

Bank of America Corp DE acquired a new position in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,120,674 shares of the company's stock, valued at approximately $14,905,000. Bank of America Corp DE owned 2.14% of 4D Molecular Therapeutics at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Jupiter Topco LLC acquired a new stake in 4D Molecular Therapeutics during the 2nd quarter worth approximately $76,466,000. BlackRock Inc. purchased a new stake in 4D Molecular Therapeutics in the 2nd quarter valued at $60,463,000. Janus Henderson Group PLC increased its position in shares of 4D Molecular Therapeutics by 13.2% during the 1st quarter. Janus Henderson Group PLC now owns 5,247,151 shares of the company's stock valued at $48,868,000 after purchasing an additional 611,276 shares during the last quarter. Trails Edge Capital Partners LP purchased a new stake in 4D Molecular Therapeutics in the 2nd quarter worth about $29,631,296. Finally, Armistice Capital LLC boosted its stake in 4D Molecular Therapeutics by 76.6% in the 4th quarter. Armistice Capital LLC now owns 1,936,000 shares of the company's stock worth $14,520,000 after purchasing an additional 840,000 shares during the period. Institutional investors and hedge funds own 99.27% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. B. Riley Financial restated a "buy" rating on shares of 4D Molecular Therapeutics in a research report on Monday, August 17th. HC Wainwright reissued a "buy" rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a research report on Monday, July 20th. Cantor Fitzgerald upgraded shares of 4D Molecular Therapeutics from a "neutral" rating to an "overweight" rating and set a $20.00 price objective for the company in a report on Monday, September 14th. The Goldman Sachs Group restated a "buy" rating and issued a $32.00 price target on shares of 4D Molecular Therapeutics in a research note on Thursday, August 13th. Finally, Chardan Capital upgraded 4D Molecular Therapeutics to a "strong-buy" rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, 4D Molecular Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.56.

4D Molecular Therapeutics Trading Down 1.6%

Shares of NASDAQ:FDMT opened at $14.47 on Friday. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.05. 4D Molecular Therapeutics, Inc. has a 52-week low of $6.96 and a 52-week high of $16.93. The stock has a market cap of $799.32 million, a price-to-earnings ratio of -5.50 and a beta of 2.74. The business has a 50-day moving average price of $13.17 and a 200-day moving average price of $11.07.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($1.04) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $3.78 million for the quarter, compared to analysts' expectations of $3.62 million. Equities analysts predict that 4D Molecular Therapeutics, Inc. will post -4.07 EPS for the current year.

Insider Buying and Selling

In other news, insider David Kirn sold 58,333 shares of the firm's stock in a transaction dated Monday, September 14th. The shares were 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 approximately $10,668,055.40. This trade represents a 7.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders sold 134,570 shares of company stock valued at $1,743,197. 7.90% of the stock is currently owned by corporate insiders.

4D Molecular Therapeutics Company Profile

4D Molecular Therapeutics, Inc is a clinical-stage biotechnology company developing genetic medicines for serious diseases with significant unmet medical needs. The company uses its Therapeutic Vector Evolution platform to engineer and select adeno-associated virus (AAV) vectors designed to deliver genetic payloads to specific tissues and support the development of potentially durable, one-time treatments.

Its research and development programs have focused primarily on ophthalmic and pulmonary diseases.

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