Persistent Asset Partners Ltd Makes New $1.94 Million Investment in 4D Molecular Therapeutics, Inc. $FDMT

Key Points

• Persistent Asset Partners acquired 145,585 shares of 4D Molecular Therapeutics worth approximately $1.94 million, while institutional investors and hedge funds collectively owned 99.27% of the company.
• 4D Molecular Therapeutics reported a quarterly loss of $1.04 per share, slightly missing estimates, although revenue of $3.78 million exceeded expectations. The company remains unprofitable, with a negative net margin of 194.74%.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $29.62 versus the stock’s reported price of $12.19; however, insiders sold roughly 197,226 shares over the past 90 days.

Persistent Asset Partners Ltd acquired a new stake in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 145,585 shares of the company's stock, valued at approximately $1,936,000. Persistent Asset Partners Ltd owned about 0.28% of 4D Molecular Therapeutics at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in FDMT. AQR Capital Management LLC acquired a new position in 4D Molecular Therapeutics during the 1st quarter worth about $46,000. Millennium Management LLC increased its stake in shares of 4D Molecular Therapeutics by 15.0% in the first quarter. Millennium Management LLC now owns 1,633,987 shares of the company's stock valued at $5,278,000 after buying an additional 213,264 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of 4D Molecular Therapeutics during the first quarter worth about $39,000. American Century Companies Inc. lifted its stake in shares of 4D Molecular Therapeutics by 11.5% in the second quarter. American Century Companies Inc. now owns 48,810 shares of the company's stock worth $181,000 after acquiring an additional 5,026 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of 4D Molecular Therapeutics by 11.7% in the second quarter. Russell Investments Group Ltd. now owns 21,816 shares of the company's stock worth $81,000 after acquiring an additional 2,284 shares during the period. 99.27% of the stock is currently owned by institutional investors and hedge funds.

4D Molecular Therapeutics Stock Performance

Shares of FDMT stock opened at $12.19 on Monday. The business has a 50-day moving average of $10.94 and a 200 day moving average of $9.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 8.03 and a quick ratio of 8.03. 4D Molecular Therapeutics, Inc. has a 1-year low of $5.97 and a 1-year high of $14.00. The stock has a market capitalization of $637.29 million, a PE ratio of -4.63 and a beta of 2.73.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($1.04) EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $3.78 million during the quarter, compared to analysts' expectations of $3.62 million. As a group, sell-side analysts anticipate that 4D Molecular Therapeutics, Inc. will post -3.88 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Scott Bizily sold 9,810 shares of the company's stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $12.00, for a total transaction of $117,720.00. Following the completion of the transaction, the insider owned 8,617 shares in the company, valued at $103,404. This represents a 53.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David Kirn sold 114,746 shares of the firm's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $10.47, for a total value of $1,201,390.62. Following the completion of the sale, the insider directly owned 942,485 shares of the company's stock, valued at $9,867,817.95. The trade was a 10.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 197,226 shares of company stock valued at $2,200,677. 7.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. B. Riley Financial assumed coverage on 4D Molecular Therapeutics in a report on Friday, July 31st. They set a "buy" rating and a $37.00 price objective for the company. Wall Street Zen cut shares of 4D Molecular Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. The Goldman Sachs Group reissued a "buy" rating and set a $32.00 target price on shares of 4D Molecular Therapeutics in a research report on Thursday. Chardan Capital upgraded shares of 4D Molecular Therapeutics to a "strong-buy" rating in a report on Tuesday, July 28th. Finally, HC Wainwright reiterated a "buy" rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Monday, July 20th. One 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 issued a Sell rating to the stock. According to MarketBeat.com, 4D Molecular Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $29.62.

4D Molecular Therapeutics 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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