4D Molecular Therapeutics (NASDAQ:FDMT) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported ($0.66) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.73) by $0.07, Zacks reports. The firm had revenue of $0.03 million during the quarter, compared to analysts' expectations of $1.44 million. 4D Molecular Therapeutics had a negative net margin of 436.30% and a negative return on equity of 26.75%.

4D Molecular Therapeutics Price Performance

FDMT stock traded down $0.17 during midday trading on Wednesday, reaching $25.58. The company had a trading volume of 429,967 shares, compared to its average volume of 946,594. 4D Molecular Therapeutics has a 1 year low of $9.44 and a 1 year high of $36.25. The company has a market capitalization of $1.32 billion, a P/E ratio of -10.48 and a beta of 2.94. The firm has a 50-day moving average price of $28.03 and a 200-day moving average price of $22.11.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Barclays assumed coverage on shares of 4D Molecular Therapeutics in a report on Monday, April 15th. They set an "overweight" rating for the company. Jefferies Financial Group lifted their price objective on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a "buy" rating in a report on Monday, April 1st. Royal Bank of Canada lifted their price objective on shares of 4D Molecular Therapeutics from $35.00 to $40.00 and gave the company an "outperform" rating in a report on Monday, April 15th. The Goldman Sachs Group restated a "buy" rating and set a $81.00 price target on shares of 4D Molecular Therapeutics in a report on Wednesday, February 7th. Finally, BMO Capital Markets cut their price target on shares of 4D Molecular Therapeutics from $70.00 to $63.00 and set an "outperform" rating on the stock in a report on Monday, April 1st. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $44.22.

Insiders Place Their Bets

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 1,750 shares of the business's stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $25.74, for a total value of $45,045.00. Following the completion of the transaction, the insider now owns 1,737 shares of the company's stock, valued at approximately $44,710.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 21,145 shares of company stock valued at $668,951 in the last quarter. Corporate insiders own 7.30% of the company's stock.

4D Molecular Therapeutics Company 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.