Cubist Systematic Strategies LLC Sells 364,659 Shares of 4D Molecular Therapeutics, Inc. $FDMT

Key Points

• Cubist Systematic Strategies LLC significantly reduced its stake in 4D Molecular Therapeutics by 81.2%, selling 364,659 shares and retaining 84,172 shares worth approximately $272,000.
• Multiple institutional investors have recently made moves concerning 4D Molecular Therapeutics, with institutional ownership now at 99.27%.
• 4D Molecular Therapeutics reported a quarterly loss, with earnings per share of ($0.98), missing the consensus estimate of ($0.88).

Cubist Systematic Strategies LLC reduced its holdings in shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Free Report) by 81.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,172 shares of the company's stock after selling 364,659 shares during the period. Cubist Systematic Strategies LLC owned about 0.18% of 4D Molecular Therapeutics worth $272,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new position in 4D Molecular Therapeutics during the first quarter valued at approximately $41,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of 4D Molecular Therapeutics during the fourth quarter valued at approximately $50,000. Velan Capital Investment Management LP purchased a new stake in shares of 4D Molecular Therapeutics during the fourth quarter valued at approximately $56,000. Russell Investments Group Ltd. purchased a new stake in shares of 4D Molecular Therapeutics during the first quarter valued at approximately $63,000. Finally, Proficio Capital Partners LLC boosted its stake in shares of 4D Molecular Therapeutics by 26.0% during the first quarter. Proficio Capital Partners LLC now owns 25,195 shares of the company's stock valued at $75,000 after purchasing an additional 5,195 shares during the period. 99.27% of the stock is currently owned by institutional investors.

4D Molecular Therapeutics Trading Down 0.1%

FDMT traded down $0.01 during trading on Monday, reaching $6.80. The stock had a trading volume of 465,170 shares, compared to its average volume of 852,332. The stock's 50 day moving average is $5.70 and its two-hundred day moving average is $4.35. The company has a market capitalization of $317.56 million, a price-to-earnings ratio of -1.93 and a beta of 2.85. 4D Molecular Therapeutics, Inc. has a one year low of $2.23 and a one year high of $17.41.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.88) by ($0.10). The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate 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%. On average, equities research analysts predict that 4D Molecular Therapeutics, Inc. will post -2.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FDMT. Roth Capital dropped their price objective on 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. Weiss Ratings reissued a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a research note on Saturday, August 30th. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $25.00 price target 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 given a Sell rating to the company's stock. Based on data from MarketBeat, 4D Molecular Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target 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.