Insider Selling: 4D Molecular Therapeutics (NASDAQ:FDMT) Insider Sells $810,828.70 in Stock

Key Points

• Insider David Kirn sold 58,333 FDMT shares at an average price of $13.90, generating $810,828.70 and reducing his ownership by 7.06% to 767,486 shares. The sale follows several earlier transactions totaling more than $2 million.
• 4D Molecular Therapeutics shares recently traded at $13.76, near the middle of their 52-week range, while the company reported a quarterly loss of $1.04 per share and $3.78 million in revenue.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $28.56; institutional investors own 99.27% of the company.

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Get Free Report) insider David Kirn sold 58,333 shares of the firm's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $13.90, for a total transaction of $810,828.70. Following the transaction, the insider directly owned 767,486 shares in the company, valued at approximately $10,668,055.40. This represents a 7.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

David Kirn also recently made the following trade(s):

• On Monday, August 3rd, David Kirn sold 12,415 shares of 4D Molecular Therapeutics stock. The stock was sold at an average price of $10.05, for a total transaction of $124,770.75.
• On Friday, July 10th, David Kirn sold 15,725 shares of 4D Molecular Therapeutics stock. The shares were sold at an average price of $12.03, for a total transaction of $189,171.75.
• On Thursday, July 9th, David Kirn sold 42,608 shares of 4D Molecular Therapeutics stock. The stock was sold at an average price of $12.87, for a total transaction of $548,364.96.
• On Monday, June 22nd, David Kirn sold 114,746 shares of 4D Molecular Therapeutics stock. The stock was sold at an average price of $10.47, for a total transaction of $1,201,390.62.

4D Molecular Therapeutics Stock Performance

Shares of FDMT traded up $0.13 during mid-day trading on Wednesday, hitting $13.76. 819,575 shares of the company's stock were exchanged, compared to its average volume of 825,918. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.05. 4D Molecular Therapeutics, Inc. has a 52 week low of $6.47 and a 52 week high of $16.93. The stock's 50-day simple moving average is $12.68 and its 200-day simple moving average is $10.75. The firm has a market cap of $760.10 million, a price-to-earnings ratio of -5.23 and a beta of 2.74.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last issued 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). The company had revenue of $3.78 million during the quarter, compared to the consensus estimate of $3.62 million. 4D Molecular Therapeutics had a negative net margin of 194.74% and a negative return on equity of 41.33%. On average, equities research analysts expect that 4D Molecular Therapeutics, Inc. will post -4.09 EPS for the current year.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Opaleye Management Inc. boosted its stake in shares of 4D Molecular Therapeutics by 197.8% in the 2nd quarter. Opaleye Management Inc. now owns 334,437 shares of the company's stock valued at $4,448,000 after purchasing an additional 222,146 shares in the last quarter. Engineers Gate Manager LP increased its position in 4D Molecular Therapeutics by 132.0% during the 2nd quarter. Engineers Gate Manager LP now owns 68,206 shares of the company's stock worth $907,000 after purchasing an additional 38,806 shares in the last quarter. AXQ Capital LP acquired a new position in 4D Molecular Therapeutics during the 2nd quarter worth approximately $186,000. Headlands Technologies LLC lifted its stake in 4D Molecular Therapeutics by 20.6% in the 2nd quarter. Headlands Technologies LLC now owns 19,238 shares of the company's stock valued at $256,000 after purchasing an additional 3,282 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in 4D Molecular Therapeutics in the 2nd quarter valued at approximately $148,000. Institutional investors own 99.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FDMT. The Goldman Sachs Group reissued a "buy" rating and set a $32.00 target price on shares of 4D Molecular Therapeutics in a report on Thursday, August 13th. HC Wainwright reaffirmed a "buy" rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Monday, July 20th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a research report on Friday, July 17th. Chardan Capital upgraded shares of 4D Molecular Therapeutics to a "strong-buy" rating in a research note on Tuesday, July 28th. Finally, Cantor Fitzgerald raised shares of 4D Molecular Therapeutics from a "neutral" rating to an "overweight" rating and set a $20.00 target price on the stock in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $28.56.

4D Molecular Therapeutics Company Profile

4D Molecular Therapeutics, Inc is a clinical-stage biotechnology company developing genetic medicines for serious diseases with significant unmet medical needs. The company uses its Therapeutic Vector Evolution platform to engineer and select adeno-associated virus (AAV) vectors designed to deliver genetic payloads to specific tissues and support the development of potentially durable, one-time treatments.

Its research and development programs have focused primarily on ophthalmic and pulmonary diseases.

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