4D Molecular Therapeutics (NASDAQ:FDMT) Shares Gap Down After Insider Selling

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Get Free Report) gapped down prior to trading on Tuesday following insider selling activity. The stock had previously closed at $26.00, but opened at $25.06. 4D Molecular Therapeutics shares last traded at $25.60, with a volume of 56,538 shares trading hands.

Specifically, insider Scott Bizily sold 1,750 shares of the company's stock in a transaction on Monday, March 18th. The shares were sold at an average price of $31.27, for a total transaction of $54,722.50. Following the sale, the insider now directly owns 1,737 shares of the company's stock, valued at $54,315.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 21,145 shares of company stock worth $665,066. Insiders own 7.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FDMT. Barclays began coverage on 4D Molecular Therapeutics in a research note on Monday, April 15th. They issued an "overweight" rating for the company. Jefferies Financial Group increased their target price on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the stock a "buy" rating in a research note on Monday, April 1st. Royal Bank of Canada raised their price objective on shares of 4D Molecular Therapeutics from $35.00 to $40.00 and gave the company an "outperform" rating in a research note on Monday, April 15th. The Goldman Sachs Group restated a "buy" rating and set a $81.00 price objective on shares of 4D Molecular Therapeutics in a research note on Wednesday, February 7th. Finally, HC Wainwright reissued a "buy" rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a report on Monday, May 13th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $44.22.

4D Molecular Therapeutics Stock Performance

The stock's fifty day moving average is $27.75 and its 200 day moving average is $22.60. The stock has a market cap of $1.30 billion, a P/E ratio of -10.31 and a beta of 2.94.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.73) by $0.07. 4D Molecular Therapeutics had a negative return on equity of 26.75% and a negative net margin of 436.30%. The company had revenue of $0.03 million during the quarter, compared to analysts' expectations of $1.44 million. Equities research analysts predict that 4D Molecular Therapeutics, Inc. will post -3 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FDMT. RA Capital Management L.P. raised its holdings in shares of 4D Molecular Therapeutics by 21.3% in the first quarter. RA Capital Management L.P. now owns 5,051,511 shares of the company's stock valued at $160,941,000 after acquiring an additional 888,300 shares in the last quarter. Zimmer Partners LP acquired a new position in shares of 4D Molecular Therapeutics during the first quarter worth $4,422,000. California State Teachers Retirement System increased its position in 4D Molecular Therapeutics by 12.6% during the 1st quarter. California State Teachers Retirement System now owns 28,490 shares of the company's stock valued at $908,000 after buying an additional 3,197 shares in the last quarter. Janus Henderson Group PLC raised its stake in 4D Molecular Therapeutics by 3.4% in the first quarter. Janus Henderson Group PLC now owns 3,197,444 shares of the company's stock valued at $101,844,000 after buying an additional 104,148 shares during the last quarter. Finally, Kennedy Capital Management LLC acquired a new stake in 4D Molecular Therapeutics in the first quarter worth about $4,358,000. Hedge funds and other institutional investors own 99.27% of the company's stock.

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.