4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price Down 2.3%

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Get Free Report) fell 2.3% during mid-day trading on Wednesday . The stock traded as low as $26.13 and last traded at $26.13. 43,923 shares changed hands during trading, a decline of 96% from the average session volume of 1,080,685 shares. The stock had previously closed at $26.75.

Analyst Upgrades and Downgrades

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

4D Molecular Therapeutics Stock Performance

The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -9.51 and a beta of 2.87. The company has a 50 day moving average of $29.07 and a 200 day moving average of $20.06.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last released its earnings results on Thursday, February 29th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $4.67 million. As a group, research analysts expect that 4D Molecular Therapeutics, Inc. will post -3.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Scott Bizily sold 5,833 shares of the business's stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $35.04, for a total transaction of $204,388.32. Following the completion of the transaction, the insider now directly owns 1,737 shares of the company's stock, valued at approximately $60,864.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other 4D Molecular Therapeutics news, CEO David Kirn sold 5,696 shares of 4D Molecular Therapeutics stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $18.41, for a total transaction of $104,863.36. Following the completion of the sale, the chief executive officer now directly owns 1,151,154 shares of the company's stock, valued at approximately $21,192,745.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott Bizily sold 5,833 shares of 4D Molecular Therapeutics stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $35.04, for a total value of $204,388.32. Following the sale, the insider now directly owns 1,737 shares of the company's stock, valued at $60,864.48. The disclosure for this sale can be found here. Insiders sold 147,888 shares of company stock valued at $4,134,254 in the last three months. 10.70% of the stock is owned by corporate insiders.

Institutional Trading of 4D Molecular Therapeutics

Institutional investors have recently bought and sold shares of the business. Bfsg LLC purchased a new stake in 4D Molecular Therapeutics during the 4th quarter worth about $30,000. International Assets Investment Management LLC purchased a new stake in 4D Molecular Therapeutics during the 3rd quarter worth about $36,000. US Bancorp DE lifted its holdings in 4D Molecular Therapeutics by 580.7% during the 4th quarter. US Bancorp DE now owns 1,797 shares of the company's stock worth $36,000 after buying an additional 1,533 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of 4D Molecular Therapeutics by 44.2% in the 2nd quarter. Lazard Asset Management LLC now owns 2,190 shares of the company's stock valued at $38,000 after purchasing an additional 671 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its holdings in shares of 4D Molecular Therapeutics by 167.9% in the 3rd quarter. Ensign Peak Advisors Inc now owns 7,180 shares of the company's stock valued at $58,000 after purchasing an additional 4,500 shares during the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

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.