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 lowered its position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Free Report) by 81.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 84,172 shares of the company's stock after selling 364,659 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.18% of 4D Molecular Therapeutics worth $272,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new position in 4D Molecular Therapeutics in the 1st quarter worth about $41,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of 4D Molecular Therapeutics in the fourth quarter worth approximately $50,000. Velan Capital Investment Management LP bought a new position in shares of 4D Molecular Therapeutics in the fourth quarter worth approximately $56,000. Russell Investments Group Ltd. bought a new position in shares of 4D Molecular Therapeutics in the first quarter worth approximately $63,000. Finally, Proficio Capital Partners LLC increased its holdings in shares of 4D Molecular Therapeutics by 26.0% in the 1st quarter. Proficio Capital Partners LLC now owns 25,195 shares of the company's stock worth $75,000 after buying an additional 5,195 shares during the last quarter. Institutional investors own 99.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FDMT shares. Chardan Capital reissued a "buy" rating and issued a $25.00 price target on shares of 4D Molecular Therapeutics in a report on Tuesday, August 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a research note on Saturday. Finally, Roth Capital reduced their target price on 4D Molecular Therapeutics from $44.00 to $38.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Eight equities research 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.40.

4D Molecular Therapeutics Price Performance

4D Molecular Therapeutics stock traded down $0.03 during trading hours on Wednesday, reaching $6.66. The stock had a trading volume of 420,297 shares, compared to its average volume of 516,663. The stock has a market cap of $311.02 million, a PE ratio of -1.89 and a beta of 2.86. 4D Molecular Therapeutics, Inc. has a 52 week low of $2.23 and a 52 week high of $17.41. The company has a fifty day simple moving average of $5.85 and a 200-day simple moving average of $4.40.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.10). The business 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%. Research analysts predict that 4D Molecular Therapeutics, Inc. will post -2.84 earnings per share for the current fiscal year.

About 4D Molecular Therapeutics

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.