4D Molecular Therapeutics, Inc. $FDMT Shares Sold by Redmile Group LLC

Key Points

• Redmile Group LLC has reduced its stake in 4D Molecular Therapeutics, selling 199,675 shares and holding 997,235 shares, equating to a 16.7% decrease in ownership.
• 4D Molecular Therapeutics reported a quarterly earnings miss, with an earnings per share of ($0.98), falling short of analysts' estimates of ($0.88).
• Analyst ratings for 4D Molecular Therapeutics show eight buy ratings, two hold ratings, and one sell rating, with a consensus price target of $30.40.

Redmile Group LLC decreased its position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Free Report) by 16.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 997,235 shares of the company's stock after selling 199,675 shares during the period. Redmile Group LLC owned about 2.15% of 4D Molecular Therapeutics worth $3,221,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Wells Fargo & Company MN boosted its holdings in 4D Molecular Therapeutics by 40.6% in the 4th quarter. Wells Fargo & Company MN now owns 25,852 shares of the company's stock valued at $144,000 after purchasing an additional 7,463 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in 4D Molecular Therapeutics during the 4th quarter worth approximately $629,000. MetLife Investment Management LLC increased its position in shares of 4D Molecular Therapeutics by 21.7% in the 4th quarter. MetLife Investment Management LLC now owns 35,395 shares of the company's stock valued at $197,000 after purchasing an additional 6,312 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of 4D Molecular Therapeutics by 88.3% in the 4th quarter. Hsbc Holdings PLC now owns 34,413 shares of the company's stock valued at $190,000 after purchasing an additional 16,142 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of 4D Molecular Therapeutics by 2.3% in the 4th quarter. Northern Trust Corp now owns 440,665 shares of the company's stock valued at $2,455,000 after purchasing an additional 9,982 shares during the last quarter. Hedge funds and other institutional investors own 99.27% of the company's stock.

4D Molecular Therapeutics Price Performance

Shares of FDMT stock traded up $0.66 during mid-day trading on Friday, hitting $7.27. The stock had a trading volume of 764,947 shares, compared to its average volume of 712,914. 4D Molecular Therapeutics, Inc. has a fifty-two week low of $2.23 and a fifty-two week high of $17.41. The firm has a market cap of $339.51 million, a PE ratio of -2.06 and a beta of 2.86. The company's 50-day simple moving average is $5.41 and its 200-day simple moving average is $4.27.

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 for the quarter, missing the consensus estimate of ($0.88) by ($0.10). 4D Molecular Therapeutics had a negative net margin of 594,375.81% and a negative return on equity of 40.15%. The business had revenue of $0.01 million for the quarter, compared to analysts' expectations of $0.52 million. On average, analysts expect that 4D Molecular Therapeutics, Inc. will post -2.84 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FDMT shares. Weiss Ratings reissued a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a research report on Saturday, August 30th. Roth Capital dropped their price objective on shares of 4D Molecular Therapeutics from $44.00 to $38.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Barclays lowered their target price on shares of 4D Molecular Therapeutics from $45.00 to $38.00 and set an "overweight" rating for the company in a report on Friday, May 9th. The Goldman Sachs Group lowered their target price on shares of 4D Molecular Therapeutics from $51.00 to $44.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Chardan Capital restated a "buy" rating and issued a $25.00 target price on shares of 4D Molecular Therapeutics in a report on Tuesday, August 12th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, 4D Molecular Therapeutics 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.