4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Sees Large Growth in Short Interest

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Get Free Report) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 9,320,000 shares, a growth of 9.6% from the March 15th total of 8,500,000 shares. Based on an average daily trading volume, of 1,170,000 shares, the days-to-cover ratio is currently 8.0 days.

Insider Transactions at 4D Molecular Therapeutics

In related news, insider Scott Bizily sold 8,153 shares of the firm's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $31.78, for a total value of $259,102.34. Following the transaction, the insider now owns 1,737 shares in the company, valued at $55,201.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Scott Bizily sold 8,153 shares of the firm's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $31.78, for a total value of $259,102.34. Following the transaction, the insider now owns 1,737 shares in the company, valued at $55,201.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Kirn sold 92,001 shares of the firm's stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $27.13, for a total value of $2,495,987.13. Following the completion of the transaction, the chief executive officer now owns 1,059,153 shares in the company, valued at approximately $28,734,820.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,888 shares of company stock valued at $4,134,254. 10.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. RA Capital Management L.P. lifted its stake in 4D Molecular Therapeutics by 35.6% in the third quarter. RA Capital Management L.P. now owns 4,163,211 shares of the company's stock valued at $52,998,000 after buying an additional 1,093,680 shares during the period. BlackRock Inc. increased its holdings in shares of 4D Molecular Therapeutics by 14.3% during the second quarter. BlackRock Inc. now owns 2,914,430 shares of the company's stock valued at $52,664,000 after acquiring an additional 363,695 shares in the last quarter. State Street Corp increased its holdings in shares of 4D Molecular Therapeutics by 0.4% during the second quarter. State Street Corp now owns 2,050,430 shares of the company's stock valued at $37,051,000 after acquiring an additional 8,241 shares in the last quarter. Novo Holdings A S increased its holdings in shares of 4D Molecular Therapeutics by 25.0% during the fourth quarter. Novo Holdings A S now owns 1,500,000 shares of the company's stock valued at $30,390,000 after acquiring an additional 300,000 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of 4D Molecular Therapeutics by 0.6% during the first quarter. Vanguard Group Inc. now owns 1,290,941 shares of the company's stock valued at $19,519,000 after acquiring an additional 7,858 shares in the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on FDMT shares. Jefferies Financial Group lifted their target price on 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a "buy" rating in a research report on Monday, April 1st. Barclays initiated coverage on 4D Molecular Therapeutics in a research report on Monday. They issued an "overweight" rating on the stock. The Goldman Sachs Group reissued a "buy" rating and set a $81.00 price target on shares of 4D Molecular Therapeutics in a research note on Wednesday, February 7th. HC Wainwright reissued a "buy" rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Friday, March 1st. Finally, BMO Capital Markets cut their price target on 4D Molecular Therapeutics from $70.00 to $63.00 and set an "outperform" rating on the stock in a research note on Monday, April 1st. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, 4D Molecular Therapeutics currently has an average rating of "Buy" and an average price target of $44.22.

4D Molecular Therapeutics Price Performance

Shares of 4D Molecular Therapeutics stock traded down $0.10 during midday trading on Monday, reaching $26.25. The company had a trading volume of 610,526 shares, compared to its average volume of 1,103,500. The stock has a fifty day moving average price of $29.20 and a 200 day moving average price of $19.96. The firm has a market cap of $1.34 billion, a PE ratio of -9.87 and a beta of 2.87. 4D Molecular Therapeutics has a fifty-two week low of $9.44 and a fifty-two week high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.77) EPS for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.09). 4D Molecular Therapeutics had a negative return on equity of 34.14% and a negative net margin of 436.30%. The company had revenue of ($0.02) million during the quarter, compared to analyst estimates of $4.67 million. As a group, sell-side analysts forecast that 4D Molecular Therapeutics will post -3.03 EPS for the current year.

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.