Assenagon Asset Management S.A. Sells 212,866 Shares of 4D Molecular Therapeutics, Inc. $FDMT

Key Points

• Assenagon Asset Management sharply reduced its stake in 4D Molecular Therapeutics, selling 212,866 shares in the first quarter and cutting its holdings by 71.9% to 83,333 shares worth about $776,000.
• The stock has been active with mixed institutional and insider trading: several hedge funds opened or increased positions, while insiders Scott Bizily and David Kirn sold shares, with insiders selling 126,478 shares total over the last 90 days.
• 4D Molecular Therapeutics reported a wider-than-expected loss in its latest quarter, though revenue topped estimates; analysts still broadly rate the stock a Moderate Buy with an average price target of $29.88.

Assenagon Asset Management S.A. cut its holdings in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Free Report) by 71.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,333 shares of the company's stock after selling 212,866 shares during the quarter. Assenagon Asset Management S.A. owned about 0.16% of 4D Molecular Therapeutics worth $776,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FDMT. Dynamic Technology Lab Private Ltd bought a new position in 4D Molecular Therapeutics during the first quarter worth $39,000. Wexford Capital LP bought a new position in shares of 4D Molecular Therapeutics during the 3rd quarter worth about $41,000. AQR Capital Management LLC acquired a new position in shares of 4D Molecular Therapeutics during the first quarter valued at about $46,000. Daiwa Securities Group Inc. raised its position in shares of 4D Molecular Therapeutics by 3,362.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 6,370 shares of the company's stock valued at $48,000 after buying an additional 6,186 shares during the last quarter. Finally, Rangeley Capital LLC bought a new stake in shares of 4D Molecular Therapeutics in the second quarter valued at about $48,000. 99.27% of the stock is owned by institutional investors.

4D Molecular Therapeutics Price Performance

4D Molecular Therapeutics stock opened at $13.00 on Friday. The business has a 50 day simple moving average of $9.81 and a 200 day simple moving average of $9.21. The company has a market capitalization of $679.59 million, a PE ratio of -5.06 and a beta of 2.70. 4D Molecular Therapeutics, Inc. has a one year low of $3.86 and a one year high of $14.00.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($1.01) earnings per share for the quarter, missing analysts' consensus estimates of ($0.97) by ($0.04). 4D Molecular Therapeutics had a negative net margin of 182.34% and a negative return on equity of 36.83%. The company had revenue of $3.05 million during the quarter, compared to the consensus estimate of $2.59 million. Equities analysts anticipate that 4D Molecular Therapeutics, Inc. will post -4.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on FDMT. Jefferies Financial Group reaffirmed a "buy" rating and issued a $21.00 price target (down from $40.00) on shares of 4D Molecular Therapeutics in a report on Monday, March 30th. The Goldman Sachs Group set a $33.00 price objective on 4D Molecular Therapeutics in a report on Friday, May 8th. Weiss Ratings restated a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a research report on Monday, April 20th. HC Wainwright restated a "buy" rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research note on Friday, March 20th. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $26.00 target price on shares of 4D Molecular Therapeutics in a research report on Thursday, March 19th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $29.88.

Insider Buying and Selling at 4D Molecular Therapeutics

In other news, insider Scott Bizily sold 9,810 shares of the company's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $12.00, for a total value of $117,720.00. Following the sale, the insider owned 8,617 shares of the company's stock, valued at approximately $103,404. This represents a 53.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Kirn sold 114,746 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $10.47, for a total transaction of $1,201,390.62. Following the sale, the insider owned 942,485 shares of the company's stock, valued at $9,867,817.95. This trade represents a 10.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 126,478 shares of company stock worth $1,338,369 in the last 90 days. 7.90% of the stock is owned by corporate insiders.

4D Molecular Therapeutics Company Profile

4D Molecular Therapeutics, founded in 2015 and headquartered in Emeryville, California, is a clinical-stage biotechnology company focused on the development of targeted gene therapies for rare diseases. The company employs its proprietary Gene Expression AAV (GEA) platform to engineer novel adeno-associated virus (AAV) capsids with enhanced tissue selectivity and transduction efficiency. This platform aims to improve the precision and durability of gene delivery compared to traditional AAV approaches.

4D's pipeline includes both preclinical and clinical-stage programs across multiple therapeutic areas.

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