Bank of New York Mellon Corp Purchases Shares of 152,337 4D Molecular Therapeutics, Inc. $FDMT

Key Points

• Bank of New York Mellon acquired 152,337 shares of 4D Molecular Therapeutics worth approximately $2.03 million, joining other institutional investors that collectively own 99.27% of FDMT.
• Analyst sentiment is broadly positive: FDMT has a consensus rating of “Moderate Buy” and a consensus price target of $29.62, despite one sell rating.
• The stock opened at $14.63, while the company reported a quarterly EPS loss of $1.04—slightly worse than estimates—alongside $3.78 million in revenue. Insiders have sold 199,158 shares worth about $2.23 million over the past 90 days.

Bank of New York Mellon Corp acquired a new stake in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 152,337 shares of the company's stock, valued at approximately $2,026,000. Bank of New York Mellon Corp owned about 0.29% of 4D Molecular Therapeutics at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wexford Capital LP acquired a new position in shares of 4D Molecular Therapeutics in the 3rd quarter valued at about $41,000. Daiwa Securities Group Inc. raised its holdings in 4D Molecular Therapeutics by 3,362.0% in 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 period. Susquehanna Portfolio Strategies LLC purchased a new position in 4D Molecular Therapeutics in the fourth quarter valued at approximately $77,000. Martingale Asset Management L P lifted its position in 4D Molecular Therapeutics by 12.4% during the fourth quarter. Martingale Asset Management L P now owns 11,775 shares of the company's stock valued at $88,000 after buying an additional 1,303 shares in the last quarter. Finally, Gabelli Funds LLC acquired a new position in 4D Molecular Therapeutics during the fourth quarter valued at approximately $90,000. 99.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FDMT. The Goldman Sachs Group reissued a "buy" rating and issued a $32.00 price objective on shares of 4D Molecular Therapeutics in a research report on Thursday, August 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a research report on Friday, July 17th. B. Riley Financial reiterated a "buy" rating on shares of 4D Molecular Therapeutics in a report on Monday, August 17th. HC Wainwright reissued a "buy" rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research report on Monday, July 20th. 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, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, 4D Molecular Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $29.62.

4D Molecular Therapeutics Price Performance

Shares of FDMT stock opened at $14.63 on Wednesday. The firm has a fifty day simple moving average of $12.60 and a 200-day simple moving average of $10.61. The company has a market capitalization of $808.22 million, a PE ratio of -5.56 and a beta of 2.74. 4D Molecular Therapeutics, Inc. has a twelve month low of $6.47 and a twelve 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.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $3.78 million for the quarter, compared to analysts' expectations of $3.62 million. Equities research analysts anticipate that 4D Molecular Therapeutics, Inc. will post -4.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 4D Molecular Therapeutics news, insider David Kirn sold 12,415 shares of 4D Molecular Therapeutics stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $10.05, for a total transaction of $124,770.75. Following the sale, the insider directly owned 871,737 shares in the company, valued at $8,760,956.85. The trade was a 1.40% 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 Scott Bizily sold 9,810 shares of the company's stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $12.00, for a total value of $117,720.00. Following the completion of the transaction, the insider directly owned 8,617 shares in the company, valued at approximately $103,404. The trade was a 53.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 199,158 shares of company stock valued at $2,229,161. 7.90% of the stock is owned by 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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